1. Pennsylvania
  2. Allentown City
  3. 111 North 5th Street
$423,000/mo

111 North 5th Street, Allentown City, PA 18102

  • 6 beds |
  • 3 baths |
  • 3,380 sqft
  • Property Icon Rental
  • Property Year Built Icon Built in 1918
  • Property Lot Size Icon1,437sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $125/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

MULTIPLE OFFERS RECEIVED- HIGHEST AND BEST SUNDAY OCTOBER 12th BY NOON. Attention Investors — This fully renovated 3-unit, end-unit building in the heart of Allentown is a true diamond in the rough. Offering over a 12% CAP rate with potential to climb even higher, this property delivers strong immediate cash flow with exceptional long-term upside. Each apartment occupies an entire floor, giving tenants oversized layouts, privacy, and abundant natural light. Key Investment Highlights: • Three full-floor apartments – 2 beds/1 bath each, with flexible layouts often adapted into 3-bedroom units. • Bright, spacious interiors with high ceilings and extra-large windows. • 6 total bedrooms, 3 full bathrooms. • Individual electric hot water heaters for each unit. • New washer/dryer hookups in Units 1 and 3. • Lower-level front entrance with potential to monetize a large storage room. • Tenant-paid utility surcharge ($90/month) covering water, sewer, trash, and heat—keeping operating expenses controlled. • Parking advantage – city on-street permits just $20/year, plus off-street parking at the rear of the building generating $25/month per space. This property is already a cash flow powerhouse, with further upside available through rent increases, parking income, and storage rental. Sold with a clear CO and easy to show. Opportunities like this are rare to find—don’t miss securing this diamond in the rough in one of Allentown’s most desirable locations.

Listing Status:
Active
Listing Office:
NZO Realty : (484) 541-1740
MLS ID:
763915
  • Laundry: Washer Hookup
  • A/C: Ceiling Fan(s)None
  • Heating: Baseboard
  • Parking: On StreetParking spaces: 0
  • General: Stone3
  • Originating MLS: HIGH_LHI
  • School District: Allentown
  • County: Lehigh
  • Zoning: R-H640711941954 1
  • Utilities: Cable Available
  • Water: Public
  • Sewer: Public Sewer
  • Source: HIGH_LHI

This listing courtesy of NZO Realty

Location

Schools Nearby

L

Lincoln Early Childhood Center

, Allentown, PA, 18102

Grades PK-5

0.22 miles away

H

Harrison-Morton Middle School

137 N 2nd St, Allentown, PA, 18101

Grades 6-8

0.47 miles away

B

Building 21 Allentown

265 Lehigh St, Allentown, PA, 18102

Grades 9-12

0.41 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.