521 Walnut Street
$379,000
5
4
2,564
2,564
$148
Description
3-unit recently renovated apartment building for rent in desirable downtown Allentown. This building sits in a prime location that is currently being under-utilized. The front building has two units - unit one is a studio/one bedroom apartment that is currently leased, ending mid-April 2025. Unit two is currently month to month. The rear two-story building holds a large garage with separate entrances that is not currently leased. The upstairs unit is set up as an apartment and currently zoned as...3-unit recently renovated apartment building for rent in desirable downtown Allentown. This building sits in a prime location that is currently being under-utilized. The front building has two units - unit one is a studio/one bedroom apartment that is currently leased, ending mid-April 2025. Unit two is currently month to month. The rear two-story building holds a large garage with separate entrances that is not currently leased. The upstairs unit is set up as an apartment and currently zoned as a commercial unit by the City. It has a tenant and a back-up tenant for the space. This property has great potential to substantially increase its value due to its location, current rents, utility charges and the explosive growth in downtown Allentown. There are a total of four income streams for this property. This is CURRENTLY a 9.5 CAP RATE with garage rented and room to grow!
- Listed by Lenore J. Mohr • Keller Williams Northampton
Property Details for 521 Walnut Street
Area
Allentown-Central
Sub divisionNot in Development
LISTING UPDATED: 01/02/2025 01:42 PM
Property Details for 521 Walnut Street
Status | Available |
---|---|
MLS # | 750467 |
Days on Market | 6 |
Taxes | $5,246 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-Family / Apartment Style |
Year Built | 1901 |
County | Lehigh County |
Building Information for 521 Walnut Street
Building/Complex521 Walnut StFloor-Stories3Residences3Pet Policy-Year Built1901Building Size-
Property Information for 521 Walnut Street
Property History for 521 Walnut Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 521 Walnut Street
Taxable ValueLand$15,400Additions$145,000Total$160,400
Tax Record2024$5,246 ($437 / month)
Home Facts
Baths4Total Finished SqFt1,970 SqFtAbove Grade Finished SqFt1,970 SqFtStories3Lot Size2,212 SqFtStyleOffice BuildingYear Built1901ZoningB-2CountyLEHIGHAPN640720024878-1
Schools near 521 Walnut Street
This home is within Allentown City School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Roosevelt Elementary School PublicK to 5 | ||
South Mountain Middle School Public6 to 8 | ||
William Allen High School Public9 to 12 | ||
Building 21 Allentown Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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