5 Beds
3 Baths
2,208 SqFt
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 Old Frgrnds Historic
MLS Listing ID 779204
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
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 $369,500, this stabilized asset generates a Current Net Operating Income of $31,140, producing an impressive 8.43% 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 9.24% 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.
With strong in-place income, efficient operating expenses, and a clear value-add strategy, 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
Nearby Locations
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
heather.m@morganelliproperties.com
1124 Linden Street, Bethlehem, Pennsylvania 18018, USA