624 Maxwell Street
Description
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) an
$1,695,000
| Type: | Investment Property |
| Built: | 1914 |
| County: | Lehigh |
| Area: | Allentown City |
| Listing Office: | Coldwell Banker Hearthside |
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Exterior Features
| Approximate Lot Size | 0.207 |
| Exterior Description | |
| Garage Description | |
| Parking Driveway Description | |
| Style |
Interior Features
| Appliances | |
| Basement | |
| Cooling | Window ACs |
| Heating | Gas, Hot Water |
| Dining Area(s) | |
| Fireplace | |
| Number of Rooms | 0 |
Property Features
| Sewer | Public |
| Sub Property Type | |
| Taxes | $12,846.84 |
| Municipal Tax ID | 0 |
| Utilities | |
| Water | Public |
| Year Built Description | Unknown |
| Square Footage | 5985 |
| Cost per Square Foot | $283.21 |
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