702 Saint John Street, Allentown, PA 18103
$640,000
Property Type:
Residential Income
Square Footage:
7,524
Lot Size (sq. ft.):
3,485
Status:
Closed
Current Price:
$640,000
List Date:
4/30/2021
Last Modified:
3/03/2025
Description
Great Cash Flow on this 7-unit in South Allentown - plenty of value add! Fully occupied with decent paying tenants. Landlord pays water, sewer, trash, heat and common electric. Tenants pay electric for their unit. Coin operated laundry and storage rooms for tenants provide the opportunity for additional income. All leases are yearly leases with 5% increases built in. All units have full deposits. 5- 2 bedrooms & 2- 1 Bedrooms. Don't wait too long to add this one to your portfolio! Seller will provide CLEAR CO.
More Information MLS# PM-85054
Contract Information
Listing Service: Full Service
Property Sub Type: Multi Family
Sold Price: $640,000
Current Price: $640,000
Status: Closed
Listing Contract Date: 2021-02-20
Location, Tax, and Legal
Parcel Number: 640626569864001
Municipality: Allentown City
High School District: Allentown City
Cnty&Muni Taxes (Legacy): 2751.88
School Tax Amount: 6208.91
Tax Annual Amount: 8960.79
Tax Assessed Value: 297400
Tax Book Number: 2018030880
Zoning Description: Residential
General Property Information
Building Area Source: Public Records
Stories: 3
Number Of Buildings: 1
Basement YN: Yes
Parking Total: 0
Lot Size Acres: 0.08
List Price/SqFt: 87.72
Sold Price/SqFt: 85.06
Building Area Total: 7524
Year Built: 1928
Currently Not Used
Number Of Units Total: 7
Remarks and Miscellaneous
Public Historical Remarks: Type: Built as Apartment, Kitchens: Modern, Bathrooms: Modern, Miscellaneous: Zoning Code R-Mh, Miscellaneous: Cert of Occ Req'd Yes
Public Remarks: Great Cash Flow on this 7-unit in South Allentown - plenty of value add! Fully occupied with decent paying tenants. Landlord pays water, sewer, trash, heat and common electric. Tenants pay electric for their unit. Coin operated laundry and storage rooms for tenants provide the opportunity for additional income. All leases are yearly leases with 5% increases built in. All units have full deposits. 5- 2 bedrooms & 2- 1 Bedrooms. Don't wait too long to add this one to your portfolio! Seller will provide CLEAR CO.
Income and Expenses
Gross Income: 78900
Net Operating Income: 22824
Insurance Expense: 1955
New Taxes Expense: 8960.79
Electric Expense: 907
Heat Expense: 3561
Trash Expense: 2625
Maintenance Expense: 1121
Listing Terms
Cash: 1
Conventional: 1
Possession
Close Of Escrow: 1
Unit 1
Unit #: 702 - 1
Occupied YN: Y
Actual Rent: 992
SqFt Total: 0
Beds Total: 2
Baths Total: 1
Unit Remarks: Appliances: yes
Unit 2
Unit #: 702 - 2
Occupied YN: Y
Actual Rent: 971
SqFt Total: 0
Beds Total: 2
Baths Total: 1
Unit Remarks: Appliances: yes
Unit 3
Unit #: 702 - 3
Occupied YN: Y
Actual Rent: 995
SqFt Total: 0
Beds Total: 2
Baths Total: 1
Unit Remarks: Appliances: yes
Unit 4
Unit #: 910
Occupied YN: Y
Actual Rent: 795
SqFt Total: 0
Beds Total: 1
Baths Total: 1
Unit Remarks: Appliances: yes
Unit 5
Unit #: 912 - 1
Occupied YN: Y
Actual Rent: 875
SqFt Total: 0
Beds Total: 1
Baths Total: 1
Unit Remarks: Appliances: yes
Unit 6
Unit #: 912 - 2
Occupied YN: Y
Actual Rent: 952
SqFt Total: 0
Beds Total: 2
Baths Total: 1
Unit Remarks: Appliances: yes
Unit 7
Unit #: 912 - 3
Occupied YN: Y
Actual Rent: 995
SqFt Total: 0
Beds Total: 2
Baths Total: 1
Unit Remarks: Appliances: yes
Construction Materials
Brick: 1
Roof
Flat: 1
Cooling
None: 1
Heating
Natural Gas: 1
Water Heater
Electric: 1
Appliances
Water Heater: 1
Security Features
Smoke Detector(s): 1
Water Source
Public: 1
Sewer
Public Sewer: 1
Road Surface Type
Paved: 1
Road Responsibility
Public Maintained Road: 1
Location Tax and Legal
County: Lehigh
Street Number: 702
Street Name: Saint John
Street Suffix: Street
City (Post Office): Allentown
State: PA
Postal Code: 18103
Subdivision Name: None
Status Change Information
Price Change Timestamp: 2021-04-30T21:32:07Z
Purchase Contract Date: 2021-05-20
Close Date: 2021-08-12
Close Price: 640000
Property Features
Listing Terms: Cash; Conventional
Possession: Close Of Escrow
Construction Materials: Brick
Roof: Flat
Cooling: None
Heating: Natural Gas
Water Heater: Electric
Appliances: Water Heater
Security Features: Smoke Detector(s)
Water Source: Public
Sewer: Public Sewer
Road Surface Type: Paved
Road Responsibility: Public Maintained Road
Listing Office:
Steel City Realty LLC
Last Updated: March - 03 - 2025
Information deemed reliable but not guaranteed.
