Seller's Agent in 2025
Frank Renaldi
The Real Estate Firm&PropMngmt
(484) 788-8682
1 in this area
187 Total Sales
266 E Walnut St Allentown, PA 18109
East Allentown Neighborhood
13
Beds
6
Baths
5,280
Sq Ft
6,011
Sq Ft Lot Lot
About This Home
As of November 20256-Unit Investment Property | 13 Bedrooms | $85K+ Gross Annual Income Turnkey 6-unit multifamily asset in East Allentown offering over 5,200 square feet of income-producing real estate. Built in 1910 and situated on a 0.138-acre lot, this fully leased brick property features 13 total bedrooms across six spacious units — a mix of 2- and 3-bedroom layouts — with leases in place and some units on month-to-month for added flexibility. Tenants cover gas heat via RUBS (Ratio Utility Billing System), and five of six units also pay water/sewer, keeping operating expenses lean. Property generates a gross annual income of $85,448 with net income of $60,552 and low owner-paid utilities (only one unit not on RUBS). Recent annual expenses total approx. $22,372, including taxes, management, and maintenance. Investment Highlights: • Gross Scheduled Income: $85,448 • Net Operating Income (NOI): $60,552 • 6 Units / 13 Bedrooms • Off-Street Parking for 8+ Vehicles • Fully Occupied with Reliable Rental History • RUBS Utility Billing | Brick Construction | Stable Cash Flow Perfect for investors seeking immediate returns and long-term equity growth in the heart of Allentown. Showings by appointment only due to tenant occupancy. Current property management company is offering a discount if new buyer stays in management.
Last Agent to Sell the Property
The Real Estate Firm&PropMngmt License #RM426277 Listed on: 06/13/2025
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $8,681
Year Built
- Built in 1910
Lot Details
- 6,011
Home Design
- Brick or Stone Mason
Interior Spaces
- 5,280 Sq Ft Home
- 3-Story Property
Bedrooms and Bathrooms
- 13 Bedrooms
- 6 Full Bathrooms
Parking
- On-Street Parking
- Parking Lot
- Off-Street Parking
Utilities
- Heating Available
Community Details
Overview
- 6 Units
Building Details
- Electric Expense $500
- Gardener Expense $715
- Insurance Expense $2,650
- Maintenance Expense $2,488
- Professional Management Expense $6,839
- Water Sewer Expense $500
- Operating Expense $22,372
- Gross Income $85,448
- Net Operating Income $60,552
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 11/25/2025 11/25/25 | Sold | $675,000 | -15.1% | $128 / Sq Ft | |
| 07/23/2025 07/23/25 | Off Market | $795,000 | -- | -- | |
| 07/14/2025 07/14/25 | Pending | -- | -- | -- | |
| 06/21/2025 06/21/25 | For Sale | $795,000 | +63.9% | $151 / Sq Ft | |
| 12/15/2020 12/15/20 | Sold | $485,000 | -3.0% | $92 / Sq Ft | View Prior Sale |
| 10/24/2020 10/24/20 | Pending | -- | -- | -- | |
| 10/15/2020 10/15/20 | For Sale | $500,000 | -- | $95 / Sq Ft |
Source: Greater Lehigh Valley REALTORS®
Agents Affiliated with this Home
-
Frank Renaldi
-
Evelyn Martinez
E
Buyer's Agent in 2025
Evelyn Martinez
Bellman & Radcliff
(484) 951-5846
3 in this area
76 Total Sales
-
David Feinberg
Seller's Agent in 2020
David Feinberg
RE/MAX
(610) 509-4358
1 in this area
144 Total Sales
-
Jennifer de Jesus
Buyer's Agent in 2020
Jennifer de Jesus
Steel City Realty
(484) 895-9005
17 in this area
347 Total Sales
-
Ronald Bowser
Buyer Co-Listing Agent in 2020
Ronald Bowser
Steel City Realty
(484) 895-9005
1 in this area
88 Total Sales
Map
Source: Greater Lehigh Valley REALTORS®
MLS Number: 759320
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