542 W Walnut St Allentown, PA 18101
Center City NeighborhoodEstimated payment $4,131/month
Highlights
- 0.1 Acre Lot
- Heating Available
- 5-minute walk to Allentown Arts Park
- Brick or Stone Mason
About This Home
Welcome to this completely updated, solid brick, 5 unit investment property, with hardwood floors everywhere. Tenants pay gas for heat & cooking, & electric with ceiling fans for cooling. Located across from City Center's new Walnut Street Commons (with an attached parking garage*). These easy to rent apartments have upgraded kitchens, new SS fridges and stoves, counter tops, tile bathrooms, ceiling fans & window blinds. Pride of ownership shows in the clean & well maintained common spaces and quality tenants. Durable carpeting & rubber tread-protectors on the stairs help preserve the original hardwood. Security cameras both inside and outside, plus good exterior lighting add to the attractiveness of this building for tenants. Three new roofs, plus side and rear yards are fenced & locked, and the large fire escape provide a safe exit for all units. Large clean basement runs the length of the building & has access through a rear door under the 1st floor rear unit. Priced at a 7.2% CAP rate using current rents, there is upside in the rents to bring them to market rate. Proof of funds required prior to scheduling a tour. Tour offering times are limited due to schedules. Please call listing agent to discuss. Please do not try to gain access to the building, the yard, or bother the tenants. *The parking deck allows public parking. Check with the Allentown Parking Authority for monthly pass availability.
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $6,641
Year Built
- Built in 1895
Parking
- On-Street Parking
Home Design
- Brick or Stone Mason
Interior Spaces
- 4,541 Sq Ft Home
- 3-Story Property
Utilities
- Heating Available
Community Details
Overview
- 5 Units
Building Details
- Electric Expense $752
- Fuel Expense $889
- Gardener Expense $600
- Insurance Expense $2,647
- Water Sewer Expense $1,632
- Operating Expense $15,807
- Gross Income $64,620
- Net Operating Income $48,813
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/12/2025 09/12/25 | Pending | -- | -- | -- |
| 08/15/2025 08/15/25 | For Sale | $675,000 | 0.0% | $149 / Sq Ft |
| 08/10/2025 08/10/25 | Off Market | $675,000 | -- | -- |
| 05/10/2025 05/10/25 | For Sale | $675,000 | -- | $149 / Sq Ft |
Source: Greater Lehigh Valley REALTORS®
MLS Number: 757173
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