521 North 6th Street,Allentown City, PA 18102
Allentown City, PA 18102
Description
NEW PRICE: $349,000 w/ Owner Down Payment Financing possible up to $50K as a second lien!!! Property will now be sold with a clear CO. 521 N. 6th Street presents an exceptional opportunity to acquire a fully licensed Single Room Occupancy (SRO) investment delivering immediate cash flow, strong operating performance, and meaningful upside in one of the Lehigh Valley's most resilient rental markets. Priced at just $349,000, this stabilized asset generates a Current Net Operating Income of $31,140, producing an impressive 8.92% capitalization rate. Through modest rent optimization and continued professional management, the property offers a projected Pro Forma NOI of $34,140, increasing returns to an outstanding 9.78% pro forma cap rate. These performance metrics position the property among the stronger cash-flow opportunities currently available in the region. Unlike traditional multifamily properties that rely on a small number of apartment leases, this licensed SRO benefits from multiple independent income streams, helping to reduce vacancy exposure while creating consistent monthly cash flow. The property is currently operating at 100% occupancy, with several rooms still offering measurable rental upside, allowing investors to increase revenue without significant capital improvements. Based on conventional financing assumptions of 25% down, 6.85% interest and 30-year amortization, the property demonstrates strong debt coverage while the potential for up to $50,000 in owner-financed down payment assistance as a second lien may provide additional flexibility for qualified buyers. With strong in-place income, efficient operating expenses, a clear value-add strategy and the potential for creative financing, 521 N. 6th Street represents an excellent opportunity for investors seeking dependable cash flow, long-term appreciation, or a high-performing addition to an existing portfolio.
Details
| MLS # | 783022 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1890 |
| Days On Site | 47 |
| Listing Provided By | The Real Estate Firm&PropMngmt | Frank J. Renaldi, Jr. |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 2,208 |
| Story(s) | 3 |
| Units | 5 |
| Zoning | R-MH |
| Acreage | 0.04 |
Parking
| Garage Yes / No | Yes |
|---|---|
| Parking Features | Detached, Garage, On Street |
Taxes
| Tax Annual Amount | 2537 |
|---|
Area Information
| State | PA |
|---|---|
| County | Lehigh |
| City | Allentown City |
| Zip Code | 18102 |
| Area | Allentown Central |
| Community Name | Not in Development |
| Listing VS Median (in Not in Development) | |
Price: $349,000 low | high Med: $289,900 sqft: 2,208 low | high Med: 928 $ / sqft: $158 low | high Med: $312 On site: 47 low | high Med: 48 | |
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Learn More About This Property
| State | PA |
|---|---|
| County | Lehigh |
| City | Allentown City |
| Zip Code | 18102 |
| Area | Allentown Central |
| Community Name | Not in Development |
| Listing VS Median (in Not in Development) | |
Price: $349,000 low | high Med: $289,900 sqft: 2,208 low | high Med: 928 $ / sqft: $158 low | high Med: $312 On site: 47 low | high Med: 48 | |
