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Property Information Sheet
Allentown 10-Unit For Sale — $795,000
Confidential Sale No Sign on the Building
Address Provided on Request
Carrie C. Ward, Your Agent for Investment Properties and International Properties
The Frederick Group
3500 Winchester Rd Allentown, PA 18104
610.398.0411 Office 484.347.2359 Cell 610.398.7294 Fax
A rare opportunity to
purchase a clean, well
maintained, multi-unit
building in center city
Allentown next to the
Neighborhood
Improvement Zone’s (NIZ)
more than $1 billion of
commercial investments
and within the area
targeted by PPL’s Live and
Work In Allentown grant
incentive program for
renters.
1 - National Association of Realtors; Commercial Forum May 2015 2 - Situs, RERC LLC, Deloitte Development LLC, National Association of Realtors; Expectations and Market
Realities in Real Estate in 2015
Rental units in continuous demand
Four cameras and video
surveillance system included in sale
Solid construction, built in 1920’s
Extra-high ceilings and unique
architectural details — potential for
luxury apartment development
Electric heat paid by tenants
In-unit hot water heaters and
electric panels
All plumbing re-done 2005
Available space for on-premises
laundry and storage for tenant use
Roof-top deck possible
Financials Property Highlights:
Variety of unit types and income sources — 1 studio
apartment, 3 one-bedroom units, 2 two-bedroom
units, 4 three-bedroom units, 3 garages and 3 park-
ing spaces.
Gross Income: $93,300; Net Income: $59,500
Property Taxes: $11,800; Other Expenses: $22,000
Strong rental history
Re-development occurring across the street and in nearby
blocks
Close to new shops, restaurants and public transportation
Priced to sell — 7.6% CAP
Why a Multi-Unit in Allentown? A Fortunate Convergence of Two Trends
#1—Allentown’s Urban Renaissance— 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 and The Atlantic’s series of articles Sept 2014
#2—Apartments are top performing commercial sector —
Outstanding ROI’s (driven by vacancy rates below 4%1,
2014 actual and 2015 projected rent growth around 4%1
) +
Short Supply (few properties available for sale and low
apartment starts1) = premium pricing demonstrated by
Mid/High-Rise Apartments 2014 average CAP rates at 5%2
Listing agent will conduct all
showings with 24-48 hours notice
required.
First showing will be one three
bedroom unit.
Subsequent showings require
executed Agreement of Sale and
proof of financial qualification.
Interested?
Property Details