NOT LISTED FOR SALE

335 Ridge Ave Allentown, PA 18102

1st Ward Neighborhood

Estimated Value: $704,919

5 Beds
4 Baths
2,940 Sq Ft
$240/Sq Ft Est. Value

Last Sold October 05, 2018

Last sale price $315,000 $107 Per Sq Ft

Est. 124% increase in value since last sale

Current estimated payment $4,429/month

19 Days on Market

Highlights

  • 0.1 Acre Lot
  • Heating System Uses Gas
  • 5-minute walk to Bucky Boyle Park
  • Commercial or Retail Space

About This Home

As of October 2018

5 Residential Units with Ground Floor Retail for Sale! This cash flowing multi-unit investment property features brick façade, four (4) one bedroom apartments, one studio apartment, and a ground level commercial space which has a 5 year lease in with a retail tenant. Building is 100% occupied and well maintained by owner. Building also has additional parking which is currently rented for $3,000 per year. Landlord responsible only for insurance, pest control, repairs, property taxes, common area electric, and water. Building is separately metered with heat and electric that is paid by tenants. Located within heavily populated residential area on Ridge Avenue, just 3 blocks from the newly proposed Jaindl Enterprises Waterfront mixed-used project. For additional information about this listing or to request a financial package, please contact listing agent. Group showings will be schedule to respect the privacy of the current tenants.

Last Agent to Sell the Property

James Balliet

Keller Williams Allentown Listed on: 08/08/2018

Keller Williams Allentown

Last Buyer's Agent

Toshya Gonzalez

Weichert Realtors

Weichert Realtors

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,435

Year Built

  • Built in 1870

Lot Details

  • 4,487 Sq Ft Lot
  • Lot Dimensions are 30 x 150

Home Design

  • 2,940 Sq Ft Home
  • Commercial or Retail Space
  • Brick Exterior Construction

Parking

  • 6 Parking Spaces
  • Paved Parking

Utilities

  • Window Unit Cooling System
  • Heating System Uses Gas

Listing and Financial Details

  • Assessor Parcel Number 640743280119 001

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $360
  • Insurance Expense $1,250
  • Maintenance Expense $6,000
  • Other Expense $150
  • Water Sewer Expense $600
  • Operating Expense $13,795
  • Gross Income $46,740
  • Net Operating Income $32,945

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,435

Year Built

Built in 1870

Lot Details

0

Listing Details

  • Property Type: Investment Property
  • Property Sub Type: Investment Property
  • Property Sub Type Category: Commercial
  • County Assessment: 197100.00
  • V O W Automated Valuation Dis: Yes
  • V O W Consumer Comment: Yes
  • Year Built: 1870
  • Special Features: None

Interior Features

  • Square Footage: 2940

Exterior Features

  • Construction: Brick

Garage/Parking

  • Parking: Paved Lot
  • Parking Spaces: 6

Utilities

  • Cooling: Window AC
  • Heat Type: Electric, Gas
  • Sewer: Public
  • Water: Public
  • Electric: 360
  • Insurance: 1250
  • Water Sewer: 600

Condo/Co-op/Association

  • Maintenance Repair: 6000

Fee Information

  • Operating Expense: 13795

Schools

  • School District: Allentown

Lot Info

  • Acres: 0.103
  • Lot Dimensions: 30 x 150
  • Lot Sq Ft: 4487
  • Zoning Code: B1/R

Rental Info

  • Other Expenses: 150

Tax Info

  • Assessor Parcel Number: 640743280119 001
  • County Taxes: 717.44
  • Municipal Taxes: 968.12
  • Total Taxes: 5435.43

Multi Family

  • School Taxes: 3749.87
  • Total Units: 6
  • Total Unit Count: 6

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 8, 2018
Closed on
Oct 5, 2018
Sold by
Rivera Jose A
Bought by
Zizirage Llc
Seller's Agent
James Balliet
Keller Williams Allentown
Buyer's Agent
Toshya Gonzalez
Weichert Realtors
List Price
$350,000
Sold Price
$315,000
Premium/Discount to List
-$35,000
-10%
Current Estimated Value
$704,919

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$389,919
Avg. Annual Appreciation
12.65%
Original Mortgage
$243,750
Outstanding Balance
$214,730
Interest Rate
4.5%
Mortgage Type
New Conventional
Estimated Equity
$490,189

Purchase Details

Closed on
Jun 14, 2006
Sold by
Tsarouhis Demetrios
Bought by
Rivera Jose A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
6.58%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 8, 2004
Sold by
Markowitz Terrence L and Markowitz Lauren J
Bought by
Tsarouhis Demetrios H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$67,200
Interest Rate
5.6%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 22, 1993
Bought by
Merkel Sylvia J

Purchase Details

Closed on
Jan 30, 1990
Bought by
Merkel Sylvia J
Source: Public Records

Range of Values:

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Average Value
Not Available
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

Purchase History

Date Buyer Sale Price Title Company
Zizirage Llc $315,000 Stewart Title Guaranty Compa
Rivera Jose A $200,000 First Option Title Agency Ll
Tsarouhis Demetrios H $84,000 Lawyers Title Ins
Merkel Sylvia J -- --
Merkel Sylvia J -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Zizirage Llc $243,750
Previous Owner Rivera Jose A $160,000
Previous Owner Tsarouhis Demetrios H $67,200
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/05/2018 10/05/18 Sold $315,000 -10.0% $107 / Sq Ft
08/27/2018 08/27/18 Pending -- -- --
08/08/2018 08/08/18 For Sale $350,000 -- $119 / Sq Ft
Source: Greater Lehigh Valley REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $6,429 $197,100 $18,000 $179,100
2024 $6,429 $197,100 $18,000 $179,100
2023 $6,429 $197,100 $18,000 $179,100
2022 $6,205 $197,100 $179,100 $18,000
2021 $6,081 $197,100 $18,000 $179,100
2020 $5,923 $197,100 $18,000 $179,100
2019 $5,827 $197,100 $18,000 $179,100
2018 $5,435 $197,100 $18,000 $179,100
2017 $5,298 $197,100 $18,000 $179,100
2016 -- $197,100 $18,000 $179,100
2015 -- $197,100 $18,000 $179,100
2014 -- $197,100 $18,000 $179,100
Source: Public Records

Agents Affiliated with this Home

  • James Balliet

    Seller's Agent in 2018

    James Balliet

    Keller Williams Allentown

    (610) 972-6808

    84 Total Sales

    James Balliet
    Section Image
  • Toshya Gonzalez

    Buyer's Agent in 2018

    Toshya Gonzalez

    Weichert Realtors

    (610) 865-5555

    77 Total Sales

    Toshya Gonzalez
    Section Image
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Map

Source: Greater Lehigh Valley REALTORS®

MLS Number: 587748

Greater Lehigh Valley REALTORS®

APN: 640743280119-1

Pennsylvania Lehigh County Allentown 18102 1st Ward

335 Ridge Ave, Allentown, PA

This home is located at 335 Ridge Ave, Allentown, PA 18102 since 08 August 2018 and is currently estimated at $704,919, approximately $239 per square foot. This property was built in 1870. 335 Ridge Ave is a home located in Lehigh County with nearby schools including Sheridan 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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