Listing Courtesy of: LEHIGH VALLEY ASSOCIATION OF REALTORS / Century 21 Pinnacle / Frank Renaldi
266 E Walnut Street Allentown City, PA 18109
Active (17 Days)
$795,000
Description
MLS #:
759320
759320
Taxes
$8,681
$8,681
Lot Size
6,011 SQFT
6,011 SQFT
Type
Multifamily
Multifamily
Year Built
1910
1910
School District
Allentown
Allentown
County
Lehigh County
Lehigh County
Community
Not In Development
Not In Development
Listed By
Frank Renaldi, Century 21 Pinnacle
Source
LEHIGH VALLEY ASSOCIATION OF REALTORS
Last checked Jun 29 2025 at 6:14 AM GMT+0000
LEHIGH VALLEY ASSOCIATION OF REALTORS
Last checked Jun 29 2025 at 6:14 AM GMT+0000
Bathroom Details
- Full Bathrooms: 6
Subdivision
- Not In Development
Heating and Cooling
- Gas
- Hot Water
- Ceiling Fan(s)
- Wall/Window Unit(s)
Utility Information
- Utilities: Water Source: Public
- Sewer: Public Sewer
Parking
- Off Street
- On Street
- Parking Lot
Stories
- 3
Living Area
- 5,280 sqft
Location
Estimated Monthly Mortgage Payment
*Based on Fixed Interest Rate withe a 30 year term, principal and interest only
Listing price
Down payment
%
Interest rate
%Mortgage calculator estimates are provided by C21 Pinnacle and are intended for information use only. Your payments may be higher or lower and all loans are subject to credit approval.
Disclaimer: Copyright © 2025 Greater Lehigh Valley REALTORS® All Rights Reserved.
Turnkey 6-unit multifamily asset in East Allentown offering over 5,200 square feet of income-producing real estate. Built in 1910 and situated on a 0.138-acre lot, this fully leased brick property features 13 total bedrooms across six spacious units — a mix of 2- and 3-bedroom layouts — with leases in place and some units on month-to-month for added flexibility.
Tenants cover gas heat via RUBS (Ratio Utility Billing System), and five of six units also pay water/sewer, keeping operating expenses lean. Property generates a gross annual income of $85,448 with net income of $60,552 and low owner-paid utilities (only one unit not on RUBS). Recent annual expenses total approx. $22,372, including taxes, management, and maintenance.
Investment Highlights:
• Gross Scheduled Income: $85,448
• Net Operating Income (NOI): $60,552
• 6 Units / 13 Bedrooms
• Off-Street Parking for 8+ Vehicles
• Fully Occupied with Reliable Rental History
• RUBS Utility Billing | Brick Construction | Stable Cash Flow
Perfect for investors seeking immediate returns and long-term equity growth in the heart of Allentown. Showings by appointment only due to tenant occupancy.
Current property management company is offering a discount if new buyer stays in management.