PA > Allentown
Allentown, PA 18109,624-626 N MAXWELL ST
Allentown, PA 18109,624-626 N MAXWELL ST
Allentown, PA 18109,624-626 N MAXWELL ST
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Joseph Asterino

Joseph Asterino

+1(484) 955-6711
Listed by Dan Russoli • Acre and Estate
$1,695,000
Est. payment /mo
9,017 Sqft Lot
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UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID PALH2012416

Year Built 1914

Annual Tax Amount $11,816

Tax Year 2024

Lot Size 9,017 Sqft

Acres 0.21

Lot Dimensions 72.00 x 125.00

Property Sub-Type Mixed Use

Source BRIGHT

Property Description

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.

Location

State PA

County Lehigh

Area Allentown City (12302)

Zoning B-3

Interior

Hot Water Electric

Heating Radiator

Cooling Window Unit(s)

Heat Source Natural Gas

Exterior

Garage Spaces 12.0

Water Access N

Accessibility None

Total Parking Spaces 12

Garage N

Building

Sewer Public Septic

Water Public

New Construction N

Schools

School District Allentown

Others

Tax ID 641706985690-00001

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

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Bright MLS (BMLS)

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agent

Joseph Asterino

+1(484) 955-6711

Broker Associate | License ID: AB066344

Broker Associate License ID: AB066344

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