521 N 6th ST, Allentown City, PA 18102
521 N 6th ST, Allentown City, PA 18102
521 N 6th ST, Allentown City, PA 18102
521 N 6th ST, Allentown City, PA 18102
521 N 6th ST, Allentown City, PA 18102
521 N 6th ST, Allentown City, PA 18102
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Lucy Lennon

Lucy Lennon

+1(610) 533-1231
$ 349,000
Est. payment | /mo

5 Beds

3 Baths

2,208 SqFt

Save
$ 349,000
Est. payment | /mo
Save

5 Beds

3 Baths

2,208 SqFt

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 2,208 sqft

Price per Sqft $158

Subdivision Not In Development

MLS Listing ID 783022

Bedrooms 5

Full Baths 3

HOA Y/N No

Year Built 1890

Annual Tax Amount $2,537

Lot Size 1,916 Sqft

Acres 0.044

Property Sub-Type Apartment

Property Description

NEW PRICE: $349,000 w/ Owner Down Payment Financing possible up to $50K as a second lien!!! 521 N. 6th Street presents an exceptional opportunity to acquire a fully licensed Single Room Occupancy (SRO) investment delivering immediate cash flow, strong operating performance, and meaningful upside in one of the Lehigh Valley's most resilient rental markets. Priced at just $349,000, this stabilized asset generates a Current Net Operating Income of $31,140, producing an impressive 8.92% capitalization rate. Through modest rent optimization and continued professional management, the property offers a projected Pro Forma NOI of $34,140, increasing returns to an outstanding 9.78% pro forma cap rate. These performance metrics position the property among the stronger cash-flow opportunities currently available in the region. Unlike traditional multifamily properties that rely on a small number of apartment leases, this licensed SRO benefits from multiple independent income streams, helping to reduce vacancy exposure while creating consistent monthly cash flow. The property is currently operating at 100% occupancy, with several rooms still offering measurable rental upside, allowing investors to increase revenue without significant capital improvements. Based on conventional financing assumptions of 25% down, 6.85% interest and 30-year amortization, the property demonstrates strong debt coverage while the potential for up to $50,000 in owner-financed down payment assistance as a second lien may provide additional flexibility for qualified buyers. With strong in-place income, efficient operating expenses, a clear value-add strategy and the potential for creative financing, 521 N. 6th Street represents an excellent opportunity for investors seeking dependable cash flow, long-term appreciation, or a high-performing addition to an existing portfolio.

Location

State PA

County Lehigh

Area Allentown-Central

Direction From Route 22, take 145 South. Make a Left onto Linden and then a Left onto N. 6th St. Property will be on the right.

Interior

Heating Baseboard, Electric

Cooling None

Fireplace No

Exterior

Parking Features Detached, Garage, On Street

Water Access Desc Public

Garage Yes

Building

Story 3

Sewer Public Sewer

Water Public

Schools

School District Allentown

Others

Senior Community No

Tax ID 640703539721 1

Special Listing Condition None

Listed by The Real Estate Firm&PropMngmt

Nearby Locations

Main Street Real Estate Group

Contact Me For More Information!

+1(610) 365-1362

info@mainstbethlehem.com

446 Main St, Bethlehem, PA 18018, USA

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521 N 6th ST