NOT LISTED FOR SALE

223 N Fountain St Allentown, PA 18102

Center City Neighborhood
12 Beds
5 Baths
5,114 Sq Ft
2,945 Sq Ft Lot

Last Sold September 24, 2024

Last sale price $630,000 $123 Per Sq Ft

10 Days on Market

About This Home

As of September 2024

*Prime Investment Opportunity!* Discover an exceptional investment opportunity with this well-maintained 5-unit property boasting an impressive cap rate of 11% generating $84,000 in gross income & $69,000 in net income. This property offers both immediate returns & long-term value! All units have been updated, featuring renovated kitchens, bathrooms, new flooring & new paint throughout. Each apartment offers ample space with generously sized bedrooms, efficient galley kitchens & comfortable living areas. Every unit is equipped with its own separate new hot water heaters & separate electic, ensuring convenience & efficiency. The property includes parking for up to 4 vehicles in the rear with additional paid parking available at the neighboring property behind the building. Situated close to the vibrant Hamilton District area, residents will enjoy easy access to retail shopping, a variety of restaurants, the PPL Arena, parks & public transportation. The current owner personally manages & maintains the property, ensuring it remains in excellent condition. This hands-on approach guarantees the building's upkeep & enhances tenant satisfaction. This property is a turnkey investment with solid returns & growth potential in a thriving area. Don’t miss your chance to own a well-cared-for, high-yield investment property in a prime location. Property has a clear certificate of occupancy from the City of Allentown.

Last Agent to Sell the Property

Henrique Matos

IronValley RE of Lehigh Valley Listed on: 07/30/2024

IronValley RE of Lehigh Valley

Last Buyer's Agent

John Wargo

Realty One Group Supreme License #RS363018

Realty One Group Supreme

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1900

Lot Details

  • 2,945 Sq Ft Lot
  • Property is zoned R-MH-MEDIUM HIGH DENSITY RESIDENTIAL

Parking

  • 4 Parking Spaces

Home Design

  • Stucco Exterior

Interior Spaces

  • 5,114 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 5 Full Bathrooms

Utilities

  • Window Unit Cooling System
  • Heating Available

Listing and Financial Details

  • Assessor Parcel Number 549791312992001

Community Details

Overview

  • Old Allentn Historic Subdivision

Building Details

Home Details

Home Type

Single Family

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Investment Property
  • Property Sub Type: Investment Property
  • Property Sub Type Category: Apartment Style, Detached, Duplex/Both Halves
  • County Assessment: 176900.00
  • Stories: 2.0
  • V O W Automated Valuation Dis: Yes
  • V O W Consumer Comment: Yes
  • Year Built: 1900
  • Adult Comm55 Over Y N: No
  • Special Features: None

Interior Features

  • Bathrooms: 5
  • Full Bathrooms: 5
  • Bedrooms: 12
  • Square Footage: 5114

Exterior Features

  • Construction: Stucco

Garage/Parking

  • Parking Spaces: 4

Utilities

  • Cooling: No Air, Window ACs
  • Heat Type: Electric
  • Sewer: Public
  • Water: Public
  • Electric: 400
  • Insurance: 2200
  • Water Sewer: 1800

Condo/Co-op/Association

  • Lawn Snow Removal: 500
  • Maintenance Repair: 2000

Lot Info

  • Acres: 0.068
  • Lot Sq Ft: 2945
  • Zoning Code: R-MH-MEDIUM HIGH DENSITY RESIDENTIAL

Tax Info

  • Assessor Parcel Number: 549791312992001
  • County Taxes: 668.68
  • Municipal Taxes: 961.37

Multi Family

  • School Taxes: 4005.58
  • Total Units: 5
  • Total Unit Count: 6

MLS Schools

  • School District: Allentown

Range of Values:

Collateral Analytics

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ICE

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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 List to Sale Price per Sq Ft
09/24/2024 09/24/24 Sold $630,000 -1.4% $123 / Sq Ft
08/09/2024 08/09/24 Pending -- -- --
07/30/2024 07/30/24 For Sale $639,000 -- $125 / Sq Ft
Source: Greater Lehigh Valley REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Henrique Matos

    Seller's Agent in 2024

    Henrique Matos

    IronValley RE of Lehigh Valley

    (484) 515-8705

    29 in this area

    80 Total Sales

    Henrique Matos
    Section Image

  • J

    Buyer's Agent in 2024

    John Wargo

    Realty One Group Supreme

    (610) 321-3730

    2 in this area

    38 Total Sales

    John Wargo
    Section Image
See All Agents

Map

Source: Greater Lehigh Valley REALTORS®

MLS Number: 742637

Greater Lehigh Valley REALTORS®
Pennsylvania Lehigh County Allentown 18102 Center City

223 N Fountain St, Allentown, PA

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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