508 North Silk Street

Allentown, PA 18102

$265,000
Price
6
Beds
2
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Welcome to your next lucrative investment opportunity in the heart of Center City Allentown! Introducing a fantastic 2-unit duplex strategically located near public transportation hubs, ensuring convenient access for tenants and maximizing rental potential. Key Features: Prime Location: Located in vibrant Center City Allentown, this property enjoys proximity to the amenities that city living has to offer. Investment Gem: With a remarkable 9.00% cap rate, this duplex promises an impressive return...Welcome to your next lucrative investment opportunity in the heart of Center City Allentown! Introducing a fantastic 2-unit duplex strategically located near public transportation hubs, ensuring convenient access for tenants and maximizing rental potential. Key Features: Prime Location: Located in vibrant Center City Allentown, this property enjoys proximity to the amenities that city living has to offer. Investment Gem: With a remarkable 9.00% cap rate, this duplex promises an impressive return on investment from day one. Dual Units: Highlighting two separate units, each with its distinct charm, this property offers flexibility and multiple income streams. Revenue Rental: Perfect for savvy investors seeking consistent cash flow, this duplex is primed to generate significant rental income. Whether you're a seasoned investor looking to expand your portfolio or a newcomer eager to dive into the world of real estate, this duplex presents an unparalleled opportunity. Don't miss out on the chance to secure your financial future with this revenue-generating gem in Center City Allentown. Contact us today to schedule a viewing and seize this exceptional investment opportunity! Garages are not part of this property.
  1. Listed by Adalgisa Peralta • Acre and Estate

Property Details for 508 North Silk Street

Area
Allentown-Central
Sub division
Not in Development

Location

Listing Courtesy of Acre and Estate
Add your commute
LISTING UPDATED: 04/14/2024 07:52 PM

Property Details for 508 North Silk Street

StatusUnder Agreement
MLS #734796
Days on Market19
Taxes$2,140 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Both Halves
Year Built1917
Lot Size-
CountyLehigh County

Location

Listing Courtesy of Acre and Estate
Add your commute

Building Information for 508 North Silk Street

Stories2Residences2Year Built1917Building Size-Lot Size-

Payment Calculator

$1,625 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,446

Property Taxes

$178

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 508 North Silk Street

Summary
Location and General Information
  • Directions: From 8th St/N Eighth St, Turn right onto Liberty St, Turn left onto N Silk St, Destination will be on the left. NO PARKING ON SILK ST. you can park on Liberty and walk to silk.
  • School District: Allentown
Parking
  • Garage: None, On Street
  • ParkingSpaces: 0
Taxes and HOA Information
  • Association: Lehigh Valley MLS
  • County Taxes: $251.00
  • Lawn Snow Removal: $0
  • Maintenance Repair: $3,284
  • Management: 1412
  • Municipal Taxes: $385.00
  • School Taxes: $1,504.00
  • Total Taxes: $2,140.00
Property
Lot Information
  • APN: 549792682429 001
  • Lot Dimensions: 30x50
  • Zoning Code: R-Mh-Medium High Density Residential
Property and Assessments
  • County Assessment: $6,640.00
  • Property SubType Category: Both Halves
  • Year Built Exception: Unknown
  • Adult Comm 55 Over: No
Utilities
  • Cooling: No Air
  • Electric: 0
  • Gas: $0
  • Sewer: Public
  • Water: Public
  • Water Sewer: 1200
Interior and Exterior Features
Exterior Features
  • Construction: Brick
Interior Features
  • Heat: $0
  • Heat Type: Gas
Multi Family
Multi-Family Information
  • Gross Income: $32,844.00
  • Insurance: $1,227
  • Net Income: $24,848.00
  • Operating Expense: $6,353
  • Other Expenses: $1,642
  • Trash Removal: 375
  • Total Unit Count: 2
  • Total Units: 2

Property History for 508 North Silk Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 508 North Silk Street

This home is within Allentown City School District.
Rating
School
Type
Grades
Distance
Public - 1 to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Cleveland El School
Public1 to 5

Francis D Raub 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.

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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 Acre and Estate

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.