318 320 N 7th Street, Allentown, PA 18102

Property Description

3 unit investment property. Here is stabilized multifamily investment generating a potential of $4060 in gross weekly income and potential of $48780 gross $42,675 in net operating income. The potential becomes reality when you rent the 3rd apartment, or live in one and have the rentals pay for you to live rent free! 2 apartments rented at $1155 and $1360 and the third recently renovated apartment should go for $1550. The asset consists of two separate structures—a standalone single-family residence at 318 and a detached two-unit building at 320—offering clear operational separation and long-term flexibility. The unit mix includes two 2-bedroom/1-bath units and one 1-bedroom/1-bath unit. The property is fully occupied, with staggered lease expirations, providing immediate and predictable cash flow. Tenants are responsible for all utilities, including gas heat, electric, and water, with water submetered and billed directly to tenants—keeping landlord expenses minimal and limited to taxes and insurance. One of the larger units has recently undergone renovation and is positioned to achieve a higher market rent, presenting a clear value-add opportunity. Current in-place rents provide stable income, with additional upside through continued rent optimization in line with market conditions. Add to your portfolio or start a new one! Allentown is continuing to grow and have great tenancy for investors. This is an ideal opportunity for investors seeking a low-maintenance, income-producing asset with strong fundamentals, operational clarity, and built-in rent growth potential.

Property Features

Local Schools