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$47K NET INCOME 1501 W Chew St 2,375 SF 100% Leased Retail Building Allentown, PA 18102 $588,900 ($247.96/SF) 8.11% Cap Rate
EXECUTIVE SUMMARY
Immediate income with upside: this cashflowing, fully rented 9-unit mixed-use brick property is offered with a clear Certificate of Occupancy from the City—no work required. Situated on a visible corner in the desirable West End, this turn-key investment features a balanced mix of residential, commercial, and garage income streams. The property includes (2) true two-bedroom apartments, (1) studio/one-bedroom apartment, a long-term updated nail salon tenant, and (5) single-bay garages. Current Gross Income is $57,660 with Operating Expenses of only $9,901, producing an Actual Net Operating Income of $47,759 @ full occ, self-managed. Projected Gross climbs to $67,560. Residential units feature hardwood floors and solid layouts, while the commercial space is updated, attractive, and leased to a reliable long-term tenant. Additional upside potential exists by converting the large basement workroom into tenant storage and coin-operated laundry, further increasing revenue. With durable brick construction, efficient expense structure, diversified income from apartments, commercial, and garages, and compliance already cleared with the city, this property offers investors immediate cash flow, minimal risk, and long-term appreciation. A rare opportunity to acquire a stabilized, high-performing West End Allentown investment with upside built in.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$57,660
|
$24.28
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$57,660
|
$24.28
|
| Taxes |
$4,235
|
$1.78
|
| Operating Expenses |
$5,666
|
$2.39
|
| Total Expenses |
$9,901
|
$4.17
|
| Net Operating Income |
$47,759
|
$20.11
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $57,660 |
| Annual Per SF | $24.28 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $57,660 |
| Annual Per SF | $24.28 |
| Taxes | |
|---|---|
| Annual | $4,235 |
| Annual Per SF | $1.78 |
| Operating Expenses | |
|---|---|
| Annual | $5,666 |
| Annual Per SF | $2.39 |
| Total Expenses | |
|---|---|
| Annual | $9,901 |
| Annual Per SF | $4.17 |
| Net Operating Income | |
|---|---|
| Annual | $47,759 |
| Annual Per SF | $20.11 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,375 SF
Building Class
C
Year Built
1910
Price
$588,900
Price Per SF
$247.96
Cap Rate
8.11%
NOI
$47,759
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.10
Lot Size
0.05 AC
Zoning
R-MH
Frontage
14’ on Chew St
AMENITIES
- Signalized Intersection
Walk Score®
Very Walkable (89)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 549750920336-1 | Total Assessment | $132,600 (2025) |
| Land Assessment | $7,400 (2025) | Annual Taxes | $4,235 ($1.78/SF) |
| Improvements Assessment | $125,200 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
549750920336-1
Land Assessment
$7,400 (2025)
Improvements Assessment
$125,200 (2025)
Total Assessment
$132,600 (2025)
Annual Taxes
$4,235 ($1.78/SF)
Tax Year
2024
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$47K NET INCOME | 1501 W Chew St
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