949 N 19th St, Allentown, PA 18104

Beautiful and solid brick 16 unit apartment property in the west end of Allentown on N 19th Street. The building consists of 3 studios, 11 one bedrooms, and 2 two bedroom apartments. Important to note that 10 of the 16 apartments have been renovated with new kitchens (with granite countertops and stainless appliances), as well as upgraded bathrooms. Solid wood floors exposed and refinished in renovated apartments where available. New electrical service, panels, and electric baseboard installed in all units in 2018. Sidewalks all redone. Current gross income is $207,880 with NOI at $144,129 (accounting for management and maintenance). Proforma gross income is closer to $238,000 with proforma NOI at $171,443. Building is fully occupied with tenants paying under market rent. 10 of the units are Month to Month, so it would be easy for a new owner to increase the rent roll quickly. Very little turnover in this building, as most tenants have been in place for years. Lot of potential!