NOT LISTED FOR SALE

1624 W Walnut St Allentown, PA 18102

West End Allentown Neighborhood
6 Beds
3.5 Baths
3,470 Sq Ft
4,182 Sq Ft Lot

Last Sold March 08, 2024

Last sale price $400,000 $115 Per Sq Ft

14 Days on Market

Highlights

  • Wood Flooring
  • Balcony
  • Baseboard Heating

About This Home

As of March 2024

Property Type: 4 Units (1 Commercial + 3 Residential)
Unit Breakdown: 1 Commercial Space | 1, 3-bedroom | 1, 2-bedroom | 1, 1-bedroom
Renovated Units: 2 Updated with New Paint and Flooring | 1 Unit with Hardwood Floors and Updated Kitchen Countertops
Gross Income: $44,640
Net Income: $31,805
Cap Rate: 7.95% (Excellent for the Area)
Strong Investment Potential

Diverse Income Streams: This property offers a mix of commercial and residential units, ensuring a steady flow of rental income to diversify your portfolio.

Updated Units: Two of the units have been thoughtfully renovated, featuring new paint and flooring, while another boasts hardwood floors and updated kitchen countertops. These upgrades attract high-quality tenants.

Favorable Cap Rate: With a cap rate of 7.95%, this investment outperforms many others in the area, promising an excellent return on your investment.

Prime Location: Allentown's growing economy and strong rental demand make it a strategic location for real estate investment, ensuring long-term appreciation and steady cash flow.

Investment Potential: Unlock the potential for increased income by continuing the renovation of remaining units or optimizing the commercial space to maximize returns.

Last Agent to Sell the Property

Jennifer de Jesus

Steel City Realty Listed on: 12/30/2023

Last Buyer's Agent

Kevin Azar

RE/MAX Real Estate

RE/MAX Real Estate

Townhouse Details

Home Type

  • Townhome

Est. Annual Taxes

  • $6,292

Year Built

  • Built in 1924

Lot Details

  • 4,182

Home Design

  • Semi-Detached or Twin Home
  • Stucco Exterior

Interior Spaces

  • 3,470 Sq Ft Home
  • 2.5-Story Property
  • Wood Flooring

Bedrooms and Bathrooms

  • 6 Bedrooms

Home Security

Parking

  • 2 Parking Spaces
  • Carport

Utilities

  • No Cooling
  • Radiator
  • Heating System Uses Gas
  • Baseboard Heating

Additional Features

  • Balcony
  • 4,182 Sq Ft Lot

Listing and Financial Details

  • Assessor Parcel Number 549657977218001

Community Details

Building Details

  • Electric Expense $422
  • Insurance Expense $3,000
  • Water Sewer Expense $597
  • Operating Expense $12,835
  • Gross Income $44,640
  • Net Operating Income $31,805

Additional Features

  • 4 Units
  • Fire and Smoke Detector

Townhouse Details

Home Type

Townhome

Est. Annual Taxes

$6,292

Year Built

Built in 1924

Lot Details

0

Listing Details

  • Property Type: Investment Property
  • Property Sub Type: Investment Property
  • Property Sub Type Category: Apartment Style, Semi Detached/Twin
  • Technology: Smk Detector Battery
  • County Assessment: 190800.00
  • Stories: 2.5
  • V O W Automated Valuation Dis: Yes
  • V O W Consumer Comment: Yes
  • Year Built: 1924
  • Adult Comm55 Over Y N: No
  • Special Features: None

Interior Features

  • Features: Balcony, Hardwood
  • Bathrooms: Modern
  • Bathrooms: 4
  • Full Bathrooms: 3
  • Half Bathrooms: 1
  • Bedrooms: 6
  • Square Footage: 3470

Exterior Features

  • Construction: Stucco

Garage/Parking

  • Parking: Carport
  • Parking Spaces: 2

Utilities

  • Cooling: No Air
  • Heat Type: Baseboard, Electric, Gas, Radiator
  • Sewer: Public
  • Water: Public
  • Electric: 422
  • Gas: 2525
  • Insurance: 3000
  • Water Sewer: 597

Fee Information

  • Operating Expense: 12835

Schools

  • School District: Allentown

Lot Info

  • Acres: 0.096
  • Lot Sq Ft: 4182
  • Zoning Code: R-MH-MEDIUM HIGH DENSITY RESIDENTIAL

Tax Info

  • Assessor Parcel Number: 549657977218001
  • County Taxes: 721.22
  • Municipal Taxes: 1250.38
  • Total Taxes: 6291.92

Multi Family

  • School Taxes: 4320.32
  • Total Units: 4
  • Total Unit Count: 4

MLS Schools

  • School District: Allentown

Range of Values:

Collateral Analytics

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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
03/08/2024 03/08/24 Sold $400,000 0.0% $115 / Sq Ft
01/13/2024 01/13/24 Pending -- -- --
12/30/2023 12/30/23 For Sale $400,000 -- $115 / Sq Ft
Source: Greater Lehigh Valley REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jennifer de Jesus

    Seller's Agent in 2024

    Jennifer de Jesus

    Steel City Realty

    (610) 333-4250

    12 in this area

    434 Total Sales

    Jennifer de Jesus
    Section Image

  • K

    Buyer's Agent in 2024

    Kevin Azar

    RE/MAX

    (610) 751-7046

    5 in this area

    27 Total Sales

    Kevin Azar
    Section Image
  • Robert Susko

    Buyer Co-Listing Agent in 2024

    Robert Susko

    RE/MAX

    (610) 751-1896

    17 in this area

    209 Total Sales

    Robert Susko
    Section Image
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Map

Source: Greater Lehigh Valley REALTORS®

MLS Number: 729706

Greater Lehigh Valley REALTORS®
Pennsylvania Lehigh County Allentown 18102 West End Allentown

1624 W Walnut St, Allentown, PA

This home is located at 1624 W Walnut St, Allentown, PA 18102 since 30 December 2023. This property was built in 1924. 1624 W Walnut St is a home located in Lehigh County with nearby schools including Union Terrace Elementary School, Francis D Raub Middle School, and William Allen 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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