28 N MADISON Street Allentown City, PA 18102

Investment Residence

7 Beds

4 Baths

2,240 Sq. Ft.

0.04 Acre Lot

Property Activity

Time on Site

days

Days on Market

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Last updated on 9/23/2024 11:15 AM

Listing Details

CASH FLOW IS KING! $75,850 Gross Income, $62,020 NET INCOME. This is a Legal, 7 unit Rooming House (aka SRO--Single Room Occupancy). TURNKEY, PROFITABLE OPERATION! This the most efficient and profitable segment of residential rental properties. VERY High Revenue per square foot means Maximum Profi...ts with fewer kitchens, fewer baths that generate most maintenance costs & hassles in typical residential rentals... not here. These rooms are in high demand, easy to rent, almost never vacant. Two units are traditional Studios with a BR, kitchen & private, full bath (the onsite manager resides in one of these units). One unit has a private half bath, Three units have a sink. Occupants pay weekly (that means 4.33 rent payments per month on average). LOW maintenance, easy operation with an onsite manager (cost included in expenses provided in the listing details). Most occupants pay via Cash App or equivalent to save effort. Rooms with no private facilities share a large, modern, ceramic tiled bathroom. Updated plumbing (PVC and PEX), Updated electric (new 200 AMP), newer roof, Trex porch stairs and new tongue and grove porch decking, fenced in private courtyard. Very Appealing, Great location for this type of property. Owner is part of an Operators Association that owns and runs over 300 rooms collectively in the Valley. Training and support available if needed. Once you discover this type of property, with no evictions required, you won't buy traditional rentals any more! Continue reading

MLS#

737995

Property Type

Investment

Bedrooms

Bathrooms

3 Full/1 Half

Year Built

1905

Square Feet

2,240 sq. ft

Lot Size