142 N 12th St, Allentown, PA 18102

Property Description

Located in the historic Old Allentown Historic District, this THREE-UNIT INVESTMENT property presents a fantastic value-add opportunity for investors or owner-occupants looking to build equity while generating income. With solid fundamentals and potential room to increase rents and reduce expenses over time, this property offers strong opportunity for improved cash flow. The first unit is a studio apartment featuring an eat-in kitchen, full bathroom, and direct access to the backyard. This unit also has convenient access to the full basement, providing additional storage and utility space. The second and third units are both tenant-occupied, each offering two bedrooms and one full bathroom. These units provide comfortable layouts and stable rental income, making them appealing for long-term tenants. The property includes gas heat, three electric meters, and an electric panel in the basement with individual panels serving each unit. Tenants will also appreciate the two off-street parking spaces located at the rear of the property, a valuable feature in the downtown area. Selling with a CLEAR CO! Ideally situated just minutes from schools, restaurants, shops, and everything downtown Allentown has to offer, this property combines historic neighborhood charm with strong investment potential. Whether you’re expanding your portfolio or entering the multi-unit market, this Old Allentown property is full of possibilities. Property offers over 8% CAP Rate!