626 N Maxwell St - Apartments FOR SALE


Allentown, PA 18109- East Allentown
$1,350,000 USD
610-936-9953
626 N Maxwell St, Allentown, PA for Sale
$1,350,000 USD
Apartments - FOR SALE
1/26
null | 6.85% Cap Rate

626 N Maxwell St
Allentown, PA 18109
East Allentown


OVERVIEW

The residential component of this offering includes eight apartments: four 1-bedroom units and four 2-bedroom units. Tenants are responsible for their own electricity, which covers both cooking and hot water. Additionally, the two lower-level units also pay for their own heat, while the owner provides heat for the remaining six apartments, as well as water, sewer, and trash service for all eight units. Recent upgrades include the installation of a high-efficiency, gas-fired, direct-vent condensing boiler (Evergreen Series EVG-299, 95.5% AFUE) with outdoor reset control, along with baseboard electric heaters in the two lower-level units. Five of the eight apartments have been renovated, offering a value-add opportunity for a new owner to renovate the remaining three and increase rental income. The commercial portion of the property is currently leased to La Esquina de Jorge Restaurant. The lease includes 3% annual rent increases (the next scheduled increase begins August 1, 2025) and requires the tenant to cover all maintenance and utility expenses, except for water/sewer, which is billed back at $75 per month.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$226 USD /SF

# OF UNITS

9

PRICE/UNIT

$150,000

CAP RATE

6.85%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1914

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,046 SF

ZONING

B-3

APN/PARCEL ID

641706994485-1

ASK ABOUT THIS PROPERTY

Dan RussoliColdwell Banker HearthsideMore Info
610-936-9953

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Dan RussoliColdwell Banker HearthsideMore Info
610-936-9953

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.