1042 Lehigh Street
Description
Two-unit income property in South Allentown offering multiple revenue streams and strong return potential. Projected gross annual income of $31,800 from two residential units and two rented garage bays. First-floor one-bedroom, one-bath unit with in-unit laundry is currently vacant, giving flexibility for an owner-occupant or immediate tenant placement at market rent. Second-floor one-bedroom, one-bath unit is tenant-occupied. Based on projected market rents, investors could see cap rates in the 7%-9% range and cash-on-cash returns approaching 7% with standard financing. Located minutes from Route 78, major roadways, shopping, and dining.
$310,000
| Type: | Investment Property |
| Built: | 1890 |
| County: | Lehigh |
| Area: | Allentown City |
| Listing Office: | Real Estate of America |
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Exterior Features
| Approximate Lot Size | 0.080 |
| Exterior Description | |
| Garage Description | |
| Parking Driveway Description | |
| Style |
Interior Features
| Appliances | |
| Basement | |
| Cooling | Window ACs |
| Heating | Gas |
| Dining Area(s) | |
| Fireplace | |
| Number of Rooms | 0 |
Property Features
| Sewer | Public |
| Sub Property Type | |
| Taxes | $0.00 |
| Municipal Tax ID | 0 |
| Utilities | |
| Water | Public |
| Year Built Description | |
| Square Footage | 1264 |
| Cost per Square Foot | $245.25 |
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