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$82,800 gross income! Net income $70,500 giving investors a great return on investment. This prime 5-unit investment property is ideally located at 206 N 8th St, right in the heart of the Old Allentown Historic District. Situated just one minute from the vibrant center of Allentown, this property offers a rare combination of historical charm and steady cash flow in one of the city's most sought-after rental corridors.Property OverviewThis fully occupied multi-family building is a turnkey opportunity for seasoned investors or those looking to expand their portfolio in a high-demand area.Unit Mix: * 2 Spacious two-bedroom apartments 3 one-bedroom apartments Occupancy: 100% occupied, providing immediate rental income from day one. Historical Character: Built circa 1880, the building retains its classic appeal with brick exterior and high ceilings, while being updated for modern tenancy.Location Unbeatable Proximity: Located just steps (approx. 2 blocks) from the PPL Center and the core downtown business district. Walker's Paradise: Tenants enjoy easy access to local dining, entertainment, and the new developments reshaping the Allentown skyline.Growth Area: The neighborhood is benefiting from significant local investment, including nearby affordable housing projects and commercial revitalization at 8th and Walnut Streets.Market PotentialAllentown continues to show a strong rental market as of April 2026:Demand: Roughly 58% of households in Allentown are renter-occupied.Rent Trends: Average rents for 1-bedroom units in the area are approximately $1,462, with 2-bedroom units averaging $1,814, showing steady year-over-year growth.Investment Stability: With the property fully occupied and located in a high-traffic "Seller's Market," it represents a stable asset with significant long-term appreciation potential.Investor Note: Properties in this historic corridor, such as the neighboring units at 204 N 8th St, have recently demonstrated strong returns, often exceeding a 13% ROI due to the proximity to downtown amenities. Seller has a lot more properties to sell. 135 N 8th is also listed-1 block away.Looking to expand your portfolio? Like this property all of his properties are fully occupied and all are renovated--not a rug in any of them! Showings will be limited to accomadate tenants. Property will be sold with a cleared CO form the city of Allentown!
| DAYS ON MARKET | 0 | LAST UPDATED | 4/16/2026 |
|---|---|---|---|
| YEAR BUILT | 1900 | COMMUNITY | Allentown City (12302) |
| COUNTY | LEHIGH | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | ALLENTOWN |
|---|
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| APPLIANCES | Electric Water Heater |
| AREA | Allentown City (12302) |
| CONSTRUCTION | Brick |
| HEAT | Baseboard, Electric |
| LOT | 2614 sq ft |
| LOT DIMENSIONS | 23.00 x 120.00 |
| PARKING | On Street |
| SEWER | Public Sewer |
| STORIES | 4 |
| TAXES | 5181 |
| VIEW | Yes |
| VIEW DESCRIPTION | City |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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