28 North Madison, Allentown, PA 18102

$525,000
7
BD
4
BA
2,240
SqFt
List Price
$525,000
MLS#
737995
Status
AVAILABLE
Type
Multifamily
Total Units
7
City
Allentown
Area
Allentown-West
County
Lehigh
Bedrooms
7
Bathrooms
4
Living Area
2,240
Lot Size
1,559
Year Built
1905

Property Description

CASH FLOW IS KING! $74,290 Gross Income, $60,460 NET INCOME. This is a Legal, 7 unit Rooming House (aka SRO--Single Room Occupancy). TURNKEY, PROFITABLE OPERATION! This the most efficient and profitable segment of residential rental properties. OPEN SHOWING, 5/18, 11-1 p.m. VERY High Revenue per square foot means Maximum Profits with fewer kitchens, fewer baths that generate most maintenance costs & hassles in typical residential rentals... not here. These rooms are in high demand, easy to rent, almost never vacant. Two units are traditional Studios with a BR, kitchen & private, full bath (the onsite manager resides in one of these units). One unit has a private half bath, Three units have a sink. Occupants pay weekly (that means 4.33 rent payments per month on average). LOW maintenance, easy operation with an onsite manager (cost included in expenses provided in the listing details). Most occupants pay via Cash App or equivalent to save effort. Rooms with no private facilities share a large, modern, ceramic tiled bathroom. Updated plumbing (PVC and PEX), Updated electric (new 200 AMP), newer roof, Trex porch stairs and new tongue and grove porch decking, fenced in private courtyard. Very Appealing, Great location for this type of property. Owner is part of an Operators Association that owns and runs over 300 rooms collectively in the Valley. Training and support available if needed. Once you discover this type of property, you won't buy traditional rentals any more!

Additional Information

Acres
0.04
Construction
Brick
Cooling
Window ACs
Heat
2033
Living Area
2,240
Lot Size
1,559
Net Income
60460
Operating Expense
13830
Region
Allentown-West
School District
Allentown
Sewer
Public
Stories
3
Taxes
$2,930
Total Units
7
Water Sewer
1160
Zoning
R-H-HIGH DENSITY RESIDENTIAL

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Listing courtesy of Bellman & Radcliff.

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