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
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
- Apartment
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
Additional Features
- 6,011 Sq Ft Lot
- 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
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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
75 Total Sales
-
David Feinberg
Seller's Agent in 2020
David Feinberg
RE/MAX
(610) 509-4358
1 in this area
141 Total Sales
-
Jennifer de Jesus
Buyer's Agent in 2020
Jennifer de Jesus
Steel City Realty
(484) 895-9005
15 in this area
311 Total Sales
-
Ronald Bowser
Buyer Co-Listing Agent in 2020
Ronald Bowser
Steel City Realty
(484) 895-9005
1 in this area
78 Total Sales
Map
Source: Greater Lehigh Valley REALTORS®
MLS Number: 759320
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.
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Information is deemed reliable but not guaranteed.
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