101 8Th St, Allentown, PA 18101

7 Unit Apartment Building | $1,990,000 ($284,286/Unit) | 6.51% Cap Rate | Allentown, PA 18101

Asking Price $1,990,000

Property Type: Multifamily
Square Feet: 7,335 SF

Listing Contacts

Andrew Ginsburg

Verified Profile

Property Info

Property Overview

Seller Financing Options Available! This investment opportunity consists of 11 Units - (6) Studio Apartments (1) 1 Bedroom 1 Bath Apartments and (4) Commercial Storefronts. The entire building has been renovated including all the common areas. All residential units have electric mini-splits for heating and air conditioning and hot water and electric ranges. 2 commercial units have mini-splits and 2 have individual heat pumps with exposed spiral ductwork in unit - all units have separate utilities. The property has frontage facing both Linden Street and 8th Street which are main thoroughfares into and out of downtown Allentown. Located on same block of the epicenter of new downtown development . This property is located in both an Opportunity Zone and NIZ (Neighborhood Improvement Zone) which includes over 1 Billion Dollars of development - the PPL Event Center, Restaurants, Hotel, Retail, Nightlife, and so much more. 101 N. 8th Street is an excellent long term yield play in the most up and coming area in Allentown.

Property Details

Class: C
Year Built/Renovated: 1900/2019
Stories: 3
Lot Size (sq. ft): 4,792 SF
Units: 7

Highlights

100% Renovated down to the stud including Utilities All Separate Electric Utilities
New Sewer Line 2020
Security Camera System and Wifi Included for all tenants
New Roof
Brand New Common Laundry 2 Sets Washer/Dryer
Located in the Heart of Allentown’s Redevelopment Efforts NIZ Improvement Zone

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