323 N 8th St
Allentown, PA 18102
8 units - 13% CAP - BEST DEAL IN ALLENTOWN · Multifamily Property For Sale · 8 Units

Literally a 5-minute walk from the PPL Center with massive units. $59,244K Actual Gross ($68,844K Projected Gross), $45,190 Actual Net Income (54,790 Net Income), 13% Cap Rate @ REDUCED asking of $430,000. As of 05/29/2019, the owner received a clear CO (certificate of occupancy) and the documentation is attached to this listing. This is a CLEAN turnkey, cash flowing, 8-UNIT, 6100+SF multifamily asset in Allentown, PA. ALL units have Separate Gas and Electric, the owner paid UGI over 50K for gas and furnace installation. The building is having a roof inspection done 6/12/19. A full inspection of the property and all leases will be provided to interested parties. Tenants have been there for multiple years, some as long as 12 years, most over 5. RENTS ARE VERY LOW AND can easily re-rented for at least $150.00 per unit each. Please make sure you see the aerial video and the 360 tour which enables you to walk through the entire building and legitimately view the property as if you were actually there. 360 here - https://360mediapro.vr-360-tour.com/e/LDYBazO_fSA/e?hide_nadir=true&hidelive=true . And Drone here- https://youtu.be/6kH0C8dvNbs ALL FINANCIALS are ACTUAL and are based on 7 occupied residential units at the rents stated and one commercial unit as a proforma rent of $800.00. Unit 1 – 2 bedroom, rent $600. 1st FL (front) Can be $800.00 Unit 2 – 2 bedroom, rent $725. 2nd FL (front) Can be $900.00 Unit 3 – 3 bedroom, rent $900, 3rd FL (front) Can $1,000.00 Unit 4 – 1 bedroom, rent $887, 1st FL (rear) Unit 5 – 1 bedroom, rent $580, 2nd FL (rear) Can be $800.00 Unit 6 – 1 bedroom, rent $650, 3rd FL (rear) Can be $800.00 Unit 7 – 1 bedroom, rent $595, 4th FL (rear) Can be $800.00 Unit 8 – Commercial, rent conservatively estimated at $800, Ground floor (front, street facing), Needs to be Zoned and with the proper reno, can be $1200.00.