243 North 7th Street

Allentown, PA 18102

$279,000
Last Sold Price
Beds
2,570 Sq. Ft.
$109 / Sq. Ft.
2,570
Sq. Ft.
$109
per Sq. Ft.

Description

Great Property in the OPPORTUNITY ZONE AND ONE BLOCK FROM THE NIZ. Will make a great addition for any Investor or for a home owner who wants to live upstairs and receive income towards total cost of property. Most recent Cap rate was a lucrative 9.44% The Property has the potential of 10.5% Cap rate with yearly rental increases after one year. Storefront on the 1st floor with two recently remodeled apartments on the 2nd and 3rd floor, respectively. Recent updated electric and plumbing to 1st and...Great Property in the OPPORTUNITY ZONE AND ONE BLOCK FROM THE NIZ. Will make a great addition for any Investor or for a home owner who wants to live upstairs and receive income towards total cost of property. Most recent Cap rate was a lucrative 9.44% The Property has the potential of 10.5% Cap rate with yearly rental increases after one year. Storefront on the 1st floor with two recently remodeled apartments on the 2nd and 3rd floor, respectively. Recent updated electric and plumbing to 1st and 2nd floor apt. Commercial Space rehab included new flooring, walls, and electric. The Lehigh Valley Market has a $43 Billion GDP and continues to expand. The QOZ program offers 3 tax incentives for investing in low-income communities through a Qualified Opportunity Fund. A Qualified Opportunity Fund is an investment vehicle that is set up as either a partnership or corporation for investing in eligible property located in a QOZ. Detailed Information available about the property /opportunity.
  1. Listed by Jesse A. Roldan • EXP Realty LLC
  2. Listed by Renae A. Roldan • EXP Realty LLC

Property Details for 243 North 7th Street

Area
Allentown-Central
Sub division
Not in Development

Location

Listing Courtesy of EXP Realty LLC

Sold By HowardHanna TheFrederickGroup

Add your commute
LISTING UPDATED: 03/28/2022 11:40 AM

Property Details for 243 North 7th Street

StatusSold & Settled
MLS #676378
Days on Market165
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Commercial
Year Built1900
Lot Size0.04 AC / 1,742 SF
CountyLehigh County

Location

Listing Courtesy of EXP Realty LLC

Sold By HowardHanna TheFrederickGroup

Add your commute

Building Information for 243 North 7th Street

Stories3Residences3Year Built1900Building Size-Lot Size0.04 AC / 1,742 SF

Payment Calculator

$1,856 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,523

Property Taxes

$333

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 243 North 7th Street

Summary
Location and General Information
  • Directions: From NYC/ NJ Take 22 W Towards Bethlehem / Easton and get off at Exit on PA 145 Towards 7th St. Turn Left on PA 145 South MacArthur Rd. The Property will be on the Left. Last St. will be Chew Street. If you hit Turner Street you have gone too far.
  • School District: Allentown
Parking
  • Parking: Off Site
  • ParkingSpaces: 0
Taxes and HOA Information
  • Association: Lehigh Valley MLS
  • Lawn Snow Removal: $0
  • Maintenance Repair: $1,800
  • Management: 0
Property
Lot Information
  • Acres: 0.04
  • APN: 640701587870001
  • Zoning Code: B1/R
Property and Assessments
  • County Assessment: $121,900.00
  • Property SubType Category: Commercial, Mixed Use
Utilities
  • Cooling: Wall AC
  • Electric: 0
  • Gas: $0
  • Sewer: Public
  • Water: Public
  • Water Sewer: 600
Interior and Exterior Features
Exterior Features
  • Construction: Brick
Interior Features
  • Heat: $0
  • Heat Type: Electric, Gas
Multi Family
Multi-Family Information
  • Gross Income: $38,800.00
  • Insurance: $1,500
  • Net Income: $30,442.00
  • Operating Expense: $5,058
  • Other Expenses: $0
  • Trash Removal: 0
  • Total Unit Count: 3
  • Total Units: 3

Property History for 243 North 7th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 243 North 7th Street

Taxable ValueLand$12,200Additions$109,700Total$121,900
Tax Record2024$3,997 ($333 / month)
Home Facts
Baths2.5Total Finished SqFt2,570 SqFtAbove Grade Finished SqFt2,570 SqFtStories3Lot Size1,800 SqFtStyleOffice BuildingYear Built1900ZoningB1/RCountyLEHIGHAPN640701587870-1

Schools near 243 North 7th Street

This home is within Allentown City School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Central El School
PublicK to 5

Harrison-Morton Middle School
Public6 to 8

William Allen High School
Public9 to 12

Building 21 Allentown
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of EXP Realty LLC

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.