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About the Listing ACREST1 - 3314564
The residential component of this offering includes eight apartments: four 1-bedroom units and four 2-bedroom units. Tenants are responsible for their own electricity, which covers both cooking and hot water. Additionally, the two lower-level units also pay for their own heat, while the owner provides heat for the remaining six apartments, as well as water, sewer, and trash service for all eight units. Recent upgrades include the installation of a high-efficiency, gas-fired, direct-vent condensing boiler (Evergreen Series EVG-299, 95.5% AFUE) with outdoor reset control, along with baseboard electric heaters in the two lower-level units. Five of the eight apartments have been renovated, offering a value-add opportunity for a new owner to renovate the remaining three and increase rental income. The commercial portion of the property is currently leased to La Esquina de Jorge Restaurant. The lease includes 3% annual rent increases (the next scheduled increase begins August 1, 2025) and requires the tenant to cover all maintenance and utility expenses, except for water/sewer, which is billed back at $75 per month.
Listing Highlights for 624 N Maxwell St
Status
Active
Days on Site
78
Property Type
Commercial Sale
MLS ®
PALH2012416
Year Built
1914
Total Square Footage
0
Lot/Acreage
0.21
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond: Window Unit(s)
- Heating: Radiator
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Parking Spaces: 12
- Lot Dimensions: 72.00 x 125.00
- Zoning: B-3
- Roof:
- Others:
- Sewer: Public Septic
- Parking Features: Parking Lot,4+ Spaces,3+ Spaces,2+ Spaces,1+ Spaces
Financial Details
- Tax Amount: $12,846
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2024
Payment Calculator
Monthly Payment
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Listing Location
Questions About..
624 N Maxwell St Allentown, PA 18109
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