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Value-Add Mixed-Use Opportunity 438 N 7th St 6 Unit Apartment Building $502,000 ($83,667/Unit) 8.83% Cap Rate Allentown, PA 18102



EXECUTIVE SUMMARY
Value-Add Mixed-Use Opportunity – Three (3) Units For Sale An excellent investment or owner-user opportunity is now available with this fully renovated mixed-use property. The building includes two (2) residential units and one (1) ground-level retail/commercial space, offering strong value-add potential. • Unit 1: Approx. 800 SF commercial/retail space featuring a private restroom, kitchenette, and generous storage—ideal for an owner-occupant or to maximize rental income. • Unit 2: One-bedroom studio apartment, perfect for consistent rental income. • Unit 3: Two-bedroom apartment with separate living and dining rooms. Currently tenant-occupied with approximately four months remaining on the lease. Renovated in 2020, the property features updated electrical and plumbing systems throughout, ensuring modern infrastructure and long-term durability. Additional highlights include rear parking and approved plans for an ADA ramp to the commercial space, adding both accessibility and value. Disclosure: The retail unit and select portions of the property still require finishing touches. The seller is open to completing the remaining work or offering the property as-is at a more favorable price. This flexibility allows you to customize or add value to the property according to your vision.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$60,420
|
$19.92
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$60,420
|
$19.92
|
| Taxes |
-
|
-
|
| Operating Expenses |
$16,100
|
$5.31
|
| Total Expenses |
$16,100
|
$5.31
|
| Net Operating Income |
$44,320
|
$14.61
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $60,420 |
| Annual Per SF | $19.92 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $60,420 |
| Annual Per SF | $19.92 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $16,100 |
| Annual Per SF | $5.31 |
| Total Expenses | |
|---|---|
| Annual | $16,100 |
| Annual Per SF | $5.31 |
| Net Operating Income | |
|---|---|
| Annual | $44,320 |
| Annual Per SF | $14.61 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $1,300 | - |
| 2+1 | 3 | $1,500 | - |
1 1
Walk Score®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 549792978241-1 | Total Assessment | $89,500 (2025) |
| Land Assessment | $11,900 (2025) | Annual Taxes | $0 ($0.00/SF) |
| Improvements Assessment | $77,600 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
549792978241-1
Land Assessment
$11,900 (2025)
Improvements Assessment
$77,600 (2025)
Total Assessment
$89,500 (2025)
Annual Taxes
$0 ($0.00/SF)
Tax Year
2024
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Value-Add Mixed-Use Opportunity | 438 N 7th St
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