NOT LISTED FOR SALE

1043 E Chew St Allentown, PA 18109

Rittersville Neighborhood
20 Beds
12 Baths
-- Sq Ft
1968 Built

Last Sold August 26, 2020

Last sale price $1,195,000

4 Days on Market

Highlights

  • Commercial or Retail Space
  • Heating Available
  • 1-Story Property

About This Home

As of August 2020

Multiple offers received, no more showings. FULLY OCCUPIED 12 unit garden-style apartment complex in desirable East Allentown location. Property consists of two identical 6-unit, 2-story brick buildings, each with two 1-bedroom apartments & four 2-bedroom apartments. Attractive, easy to rent apartments all with separate entrances, spacious layouts, exposed brick walls in the living space, and private covered porches/balconies. Each building also includes common areas, tenant storage, & separate owner storage in the lower level. Current gross rents are over 135k/year with approx. 95k/ year NOI. Plenty of "value add" potential could easily increase gross rents to 150k+/year and NOI above 110K/year with minimal investments. recent capital improvements include new façades, gutters, sidewalks, exterior doors, and a clear c/o from the City of Allentown. *Owners are PA licensed Realtors.

Last Listed By

Jesse Chupella

Home Team Real Estate Listed on: 06/22/2020

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $22,525

Year Built

  • Built in 1968

Home Design

  • Commercial or Retail Space
  • Brick Exterior Construction
  • Vinyl Construction Material

Interior Spaces

  • 1-Story Property

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 12 Full Bathrooms

Parking

  • 16 Parking Spaces
  • Paved Parking

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating Available

Listing and Financial Details

  • Assessor Parcel Number 641705962284001

Community Details

Overview

  • 12 Units

Building Details

  • Electric Expense $840
  • Insurance Expense $3,882
  • Maintenance Expense $3,396
  • Manager Expense $3,396
  • Trash Expense $2,940
  • Water Sewer Expense $2,750
  • Operating Expense $41,279
  • Gross Income $135,840
  • Net Operating Income $94,561

Property Details

Home Type

Apartment

Est. Annual Taxes

$22,525

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Property Type: Investment Property
  • Property Sub Type: Investment Property
  • Property Sub Type Category: Apartment Style, Commercial, Complex
  • County Assessment: 747200.00
  • Stories: 1.0
  • Street Number Modifier: - 1053
  • V O W Automated Valuation Dis: Yes
  • V O W Consumer Comment: Yes
  • Year Built: 1968
  • Special Features: None

Interior Features

  • Bathrooms: Semi Modern
  • Bathrooms: 12
  • Full Bathrooms: 12
  • Bedrooms: 20

Exterior Features

  • Construction: Aluminum, Brick, Vinyl

Garage/Parking

  • Parking: Paved Lot
  • Parking Spaces: 16

Utilities

  • Cooling: Wall AC
  • Heat Type: Electric
  • Sewer: Public
  • Water: Public
  • Electric: 840
  • Insurance: 3882
  • Trash Removal: 2940
  • Water Sewer: 2750

Condo/Co-op/Association

  • Lawn Snow Removal: 1250
  • Maintenance Repair: 3396
  • Management: 3396

Fee Information

  • Operating Expense: 41279

Schools

  • School District: Allentown

Lot Info

  • Zoning Code: R-M-MEDIUM DENSITY RESIDENTIAL

Tax Info

  • Assessor Parcel Number: 641705962284001
  • County Taxes: 2824.42
  • Municipal Taxes: 4701.24
  • Total Taxes: 22525.25

Multi Family

  • School Taxes: 14999.59
  • Total Units: 12
  • Total Unit Count: 14

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/26/2020 08/26/20 Sold $1,195,000 0.0% --
06/26/2020 06/26/20 Pending -- -- --
06/22/2020 06/22/20 For Sale $1,195,000 -- --
Source: Greater Lehigh Valley REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jesse Chupella

    Seller's Agent in 2020

    Jesse Chupella

    Home Team Real Estate

    (484) 550-2530

    3 in this area

    223 Total Sales

    Jesse Chupella
    Section Image
  • Tom Cramer

    Seller Co-Listing Agent in 2020

    Tom Cramer

    Home Team Real Estate

    (610) 442-9871

    1 in this area

    109 Total Sales

    Tom Cramer
    Section Image
  • Anna Ames

    Buyer's Agent in 2020

    Anna Ames

    Weichert Realtors

    (610) 762-9331

    2 in this area

    289 Total Sales

    Anna Ames
    Section Image
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Map

Source: Greater Lehigh Valley REALTORS®

MLS Number: 639684

Greater Lehigh Valley REALTORS®

APN: 641705962284-1

Pennsylvania Lehigh County Allentown 18109 Rittersville

1043 E Chew St, Allentown, PA

Homes for Sale in Allentown, PA

This home is located at 1043 E Chew St, Allentown, PA 18109 since 22 June 2020. This property was built in 1968. 1043 E Chew St is a home located in Lehigh County with nearby schools including Ritter Elementary School, Harrison-Morton Middle School, and Louis E. Dieruff High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Greater Lehigh Valley REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.

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