Buy & Hold: 16-Unit Apartments in Allentown, PA
Overview
The Lehigh Valley Private Equity Fund, LVPEFUND purchased the 16-Unit Susquehanna St. Apartment Building in Allentown, PA. The property features 16 units in 2 neighboring buildings, 8 units within each, 12-car paved parking spots, individual patios, balconies, and located on a corner lot.
Within the first 45 - 60 days of acquisition, the fund began executing a series of interior and exterior renovations to the property before re-renting to new tenants at an average of $1,300/month generating roughly $250,000 in rental income. Having almost reached 100% occupancy, this acquisition allows LVPEFUND to maintain its preferred return and continue to reach our target returns.
Units: 16
Breakdown: 2 BR, 1.5BA
Year Built: 1972
Year renovated: Updates throughout the years, latest units updated in 2012
Parking spaces: 16
Parcel number: 640625123871001
Zoning: R-M-MEDIUM DENSITY RESIDENTIAL
Bedrooms: 32
Full Bathrooms: 16
Half Bathrooms: 16
Size: 14,198 square feet
Note: All 16 units have 2 Bedrooms, 1.5 Baths and are very spacious.
Interested in co-owning this property with us? Schedule a 1:1 call with us to learn more.
