1501 W Chew Street, ALLENTOWN, PA 18102 (MLS # PALH2012462)

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PRICE $589,000 SIZE 2,375 sqft LOT SIZE 2,178 sqft Request More Info Schedule a Showing

Investment property that is being sold with a clear CO for Sale from the City. No work to be done! Beautiful and fully rented 4-unit + 5 Garages mixed-use brick property located in the desirable West End of Allentown. This corner lot asset features three updated residential apartments, a long-term nail salon tenant, and five income-producing garage units. A turn-key investment opportunity with strong cash flow and upside potential. Net Income: $40,772 (Actual) | $50,672 (Projected) Cap Rate (Projected): 8.6%. Unit Mix: (2) Two-bedroom, one-bath apartments; (1) Studio/one-bedroom apartment; (1) Commercial Hair salon; (5) Single-bay garages. Financial Highlights: Gross Income: $57,660 (Actual) | $67,560 (Projected). Operating Expenses: $16,888/year (The actual numbers include Property Management and Vacancy factored in). Net Income: $40,772 (Actual) | $50,672 (Projected) Cap Rate (Projected): 8.6% Fully Occupied - All units currently leased with opportunity to increase rents Location Highlights: Situated on the west side of Allentown, this high-visibility corner property benefits from walkable amenities, public transportation, and excellent tenant demand. The commercial tenant benefits from foot traffic and exposure, while the garages offer flexible utility and extra income.