500 W Pennsylvania Ave Pen Argyl, PA 18072
Plainfield Township NeighborhoodEstimated payment $2,988/month
About This Home
4-Unit Investment Property | Fully Occupied | $56K+ Annual Income
Fantastic opportunity to own a fully leased 4-unit multifamily property in the heart of Pen Argyl Borough. This well-maintained asset offers a mix of 1- 2- and 3 bedroom units with long-term tenants in place, providing strong and stable cash flow from day one.
Built in 1900, this detached building offers 2,257 square feet of rentable space. All utilities are paid by tenants through RUBS (Ratio Utility Billing System), keeping operating costs low. The property produces a gross annual income of $56,535, with a net income of $42,221 and total expenses of just $14,314, including taxes, insurance, management, and minimal owner-paid utilities.
This property is currently under professional management and the management company is offering an incentive to the future buyer if management is continued. Offering Memorandum available upon request.
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $4,207
Year Built
- Built in 1900
Home Design
- Vinyl Siding
Interior Spaces
- 2,745 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 5 Bedrooms
- 4 Full Bathrooms
Parking
- No Garage
- On-Street Parking
Utilities
- Heating Available
Community Details
Overview
- 4 Units
Building Details
- Electric Expense $600
- Gardener Expense $1,339
- Insurance Expense $2,000
- Maintenance Expense $1,645
- Professional Management Expense $4,523
- Operating Expense $14,314
- Gross Income $56,535
- Net Operating Income $42,221
Map
Home Values in the Area
Average Home Value in this Area
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 | $564 | $52,200 | $15,300 | $36,900 |
| 2024 | $4,221 | $52,200 | $15,300 | $36,900 |
| 2023 | $4,221 | $52,200 | $15,300 | $36,900 |
| 2022 | $4,169 | $52,200 | $15,300 | $36,900 |
| 2021 | $4,221 | $52,200 | $15,300 | $36,900 |
| 2020 | $4,221 | $52,200 | $15,300 | $36,900 |
| 2019 | $4,113 | $52,200 | $15,300 | $36,900 |
| 2018 | $3,975 | $52,200 | $15,300 | $36,900 |
| 2017 | $3,899 | $52,200 | $15,300 | $36,900 |
| 2016 | -- | $52,200 | $15,300 | $36,900 |
| 2015 | -- | $52,200 | $15,300 | $36,900 |
| 2014 | -- | $52,200 | $15,300 | $36,900 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/21/2025 06/21/25 | For Sale | $495,000 | 0.0% | $180 / Sq Ft |
| 03/21/2024 03/21/24 | Rented | $925 | 0.0% | -- |
| 03/14/2024 03/14/24 | Under Contract | -- | -- | -- |
| 03/07/2024 03/07/24 | Price Changed | $925 | 0.0% | $0 / Sq Ft |
| 03/07/2024 03/07/24 | For Rent | $925 | -7.0% | -- |
| 02/05/2024 02/05/24 | Under Contract | -- | -- | -- |
| 12/22/2023 12/22/23 | For Rent | $995 | -28.7% | -- |
| 08/01/2023 08/01/23 | Rented | $1,395 | 0.0% | -- |
| 07/25/2023 07/25/23 | Under Contract | -- | -- | -- |
| 07/25/2023 07/25/23 | Price Changed | $1,395 | -17.7% | $2 / Sq Ft |
| 05/18/2023 05/18/23 | For Rent | $1,695 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | $255,000 | Steel Abstract | |
| Interfamily Deed Transfer | -- | Steel Abstract | |
| Deed | $123,500 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $191,250 | Commercial | |
| Previous Owner | $174,500 | Commercial | |
| Previous Owner | $22,000 | Commercial |
Source: Greater Lehigh Valley REALTORS®
MLS Number: 759214
APN: E8NE1C-4-12-0625
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