Seller's Agent in 2022
Christopher Raad
Harvey Z Raad Real Estate
(610) 390-2803
10 in this area
156 Total Sales
724 N 7th St Allentown, PA 18102
Center City NeighborhoodEstimated Value: $936,021
18
Beds
4
Baths
8,006
Sq Ft
$117/Sq Ft
Est. Value
Highlights
- 0.11 Acre Lot
- Commercial or Retail Space
- 3-minute walk to Stevens Park
About This Home
As of June 2022Amazing Opportunity Awaits to Own this 18 Room Boarding House with Additional Commercial Retail Space & Garage Storage Rental that provides a 10% Cap Rate! 1st Level has Barber Shop Leased Space along with Separate Office Space which Owner uses for his own office to manage the building. 18 Rooms which share bathrooms that spread across 3 floors are almost always fully leased for $140/week. About half are actually long term tenants which the owner inherited! Rear Detached Garage also leased for $250/month! Excellent Income, Solid Brick Building and nothing to do but continue management & collect rents! Close to Shopping, Downtown Allentown Arena & Restaurants, Route 22 & All Major Highways! Call Today to Schedule Your Showing!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,692
Year Built
- 1934
Lot Details
- 4,792 Sq Ft Lot
- Lot Dimensions are 40x120
Parking
- Off-Site Parking
Home Design
- Commercial or Retail Space
- Mixed Use
- Brick Exterior Construction
Interior Spaces
- 8,006 Sq Ft Home
- 3-Story Property
- Fire and Smoke Detector
Bedrooms and Bathrooms
- 18 Bedrooms
- 4 Full Bathrooms
Utilities
- No Cooling
- Heating System Uses Gas
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 549794500937001
Community Details
Overview
- 26 Units
Building Details
- Electric Expense $7,200
- Insurance Expense $6,000
- Maintenance Expense $10,210
- Manager Expense $10,400
- Other Expense $12,100
- Water Sewer Expense $3,200
- Operating Expense $64,951
- Gross Income $204,200
- Net Operating Income $129,039
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 22, 2021
Closed on
May 23, 2022
Sold by
7Th St Inn Llc
Bought by
B & L Properties Llc
Seller's Agent
Christopher Raad
Harvey Z Raad Real Estate
Buyer's Agent
Peter Cerruti
RE/MAX 440
List Price
$999,999
Sold Price
$770,000
Premium/Discount to List
-$229,999
-23%
Total Days on Market
160
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$166,021
Avg. Annual Appreciation
6.99%
Purchase Details
Closed on
Dec 31, 2014
Sold by
Schaffer Charles R
Bought by
7Th Street Inn Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$262,000
Interest Rate
3.99%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 4, 2002
Sold by
Martucci Leonard A
Bought by
Schaffer Charles R
Purchase Details
Closed on
Jul 29, 1985
Sold by
Martucci Leonard A and Martucci Elsie R
Bought by
Martucci Leonard A
Purchase Details
Closed on
Mar 7, 1977
Bought by
Martucci Leonard A and Martucci Elsie R
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| B & L Properties Llc | $770,000 | Camelot Abstract | |
| 7Th Street Inn Llc | $375,000 | None Available | |
| Schaffer Charles R | $220,000 | -- | |
| Martucci Leonard A | -- | -- | |
| Martucci Leonard A | $45,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | 7Th Street Inn Llc | $262,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/30/2022 06/30/22 | Sold | $770,000 | -23.0% | $96 / Sq Ft |
| 12/29/2021 12/29/21 | Pending | -- | -- | -- |
| 07/22/2021 07/22/21 | For Sale | $999,999 | -- | $125 / Sq Ft |
Source: Greater Lehigh Valley REALTORS®
Tax History Compared to Growth
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 | $10,241 | $310,900 | $33,600 | $277,300 |
| 2024 | $10,241 | $310,900 | $33,600 | $277,300 |
| 2023 | $10,241 | $310,900 | $33,600 | $277,300 |
| 2022 | $9,886 | $310,900 | $277,300 | $33,600 |
| 2021 | $9,692 | $310,900 | $33,600 | $277,300 |
| 2020 | $9,442 | $310,900 | $33,600 | $277,300 |
| 2019 | $9,291 | $310,900 | $33,600 | $277,300 |
| 2018 | $8,652 | $310,900 | $33,600 | $277,300 |
| 2017 | $8,436 | $310,900 | $33,600 | $277,300 |
| 2016 | -- | $310,900 | $33,600 | $277,300 |
| 2015 | -- | $310,900 | $33,600 | $277,300 |
| 2014 | -- | $310,900 | $33,600 | $277,300 |
Source: Public Records
Agents Affiliated with this Home
-
Christopher Raad
-
Peter Cerruti
Buyer's Agent in 2022
Peter Cerruti
RE/MAX
(215) 429-7273
8 in this area
111 Total Sales
Map
Source: Greater Lehigh Valley REALTORS®
MLS Number: 673756
APN: 549794500937-1
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