Exceptionally well-maintained portfolio of

six multi-unit properties is offered for sale

$2,499,999

PORTFOLIO DESCRIPTION

Pride of ownership is readily apparent in both the physical

appearance and the financial details for this six property

portfolio. All 37 units have been continuously rented at near 0%

vacancy for years. This is a turn-key opportunity for any investor

as there is no deferred maintenance on six properties located in

the high-demand area of downtown Allentown. Rents are still

slightly below market and all properties and units will have up-to-

date and clear Allentown Certificate of Occupancy Permits prior

to sale.

PORTFOLIO FEATURES

100% occupied at slightly below market rents

100% hard-wired smoke detectors reduce insurance expense

1 lower roof will be replaced this spring at owner’s expense —

all other rooves less than 10 year old, except 1 porch roof and

1 main roof, both of which are in good shape and do not leak

All hot water heaters less than 6 years old — half are less than

2 years old

2 properties have new water lines

All gas heat — 1 property has a brand new heating system, 1

property was converted to gas heating 4 years ago, 2 additional

properties had new heating systems 6 and 10 years ago

37 units consists of 9 apartments and 28 furnished rooms

4 apartments were fully renovated and 1 apartment was

partially renovated in September 2018

6 apartments and 1 room are rented by a local non-profit on a

1 year lease — rent is paid even if apartment/room is empty

Additional revenue from 6 parking spots and laundry in every

building

FINANCIAL OVERVIEW

INVESTING IN ALLENTOWN

All six properties are within 1 mile of each other in center

city Allentown surrounding the designated Neighborhood

Improvement Zone’s (NIZ) more than $1 billion of

commercial investments.

Allentown’s urban renaissance is well documented in the

national press — New York Times article March 2014,

Fortune Magazine’s Top 5 list of Up and Coming

Downtowns July 2014, The Atlantic’s series of articles Sept

2014 and an April 2016 report by the Urban Land Institute

recognizing Allentown as one of six transforming

communities across the nation. All of this culminated in

2017 when Allentown was named 1 of 13 winners

worldwide of the prestigious Urban Land Institute Global

Award for Excellence.

MULTI-UNIT TRENDS

The 2019 report on Emerging

Trends in Real Estate by the Urban

Land Institute survey results state

that next to Senior housing, both

Moderate-income and Affordable

apartments are the most

attractive investments and are still

available at a fair price (see

charts). The report also states that

“...demand for rental homes and

communities still flow at every

age and economic level, but what

has changed—in a very big way—

is that the expense of developing

properties and improving existing

stock has gone up fast, to a level

that now exceeds income gains

among would-be renters”1

Footnote: 1 Urban Land Institute, pwc; Emerging Trends in Real Estate 2019

This portfolio consists of a combination of Moderate-income and

Affordable units being sold at market price with rents slightly below

market allowing for immediate investor upside.

Hanna Frederick Commercial is built on knowledge and experience. Whether buying, selling or leasing, our goal is to meet the individual real estate needs of each landlord, tenant, seller, buyer, institution and government user.

We specialize in comprehensive brokerage services for the Lehigh Valley region and beyond of

eastern Pennsylvania encompassing the counties of Lehigh, Northampton, Berks, Bucks,

Carbon, Luzerne, Monroe and Schuylkill. Our services included sales and leasing of office,

industrial, retail, land, investment properties, restaurants and other businesses, site

selection, consulting and development, investment analysis, corporate relocation, 1031

exchanges and more.

Hanna Frederick Commercial

Comprehensive brokerage services for the

Lehigh Valley region and beyond

Call us or your broker today.

Offered by Bob Bury and Carrie Ward

610-248-4137 or 484-347-2359