$149k Allentown loft building
Located historic old allentown / 4 floors 2,500 sf each, 12' ceilings.
SWEET!
Check it out on Google Maps street view. That looks like a nice street. Trees in bloom, neighbors sitting out on their porches....
I think this is in a good allentown neighborhood. Part of the historic district. I agree, it is a stunner. Note 19th century factory building as prototype of Bauhaus design. If financeable, one floor could be for personal use and the other three rented out. If not financeable, 4 people w $37.5 k each gets each investor 1 floor, 2500 sf each. Each of which could be rented out for say $1000.00 per month paying the investment off in 38 months or just over 3 years. I'm not sure the 2 residential units are legit though. I love this property and am imagining what a great studio it would make. Brick back wall and a 100' bank of norther light pouring in. I dig the radiators too. Heating could be an issue.
I'd bet you can absolutely get financing for that. Can't hurt to enquire about zoning for live/work, or whatever.
I went by today. Nice neighborhood. Stickers in window indicate back taxes owed and mentions building violations that must be rectified. Still very nice building.
Recd call from agent that this is back on the market. Was in "agreement" which fell through based on buyers zoning hearing.
Just heard from agent that it's been reduced to $100k. I LOVE THIS PLACE!!!! Rent out 3 floors, use one floor for studio! New link. Now 4 people w $25k ea will do it.
The property taxes on my house are higher.
Right. $245 a month.
sold?
That listing (original post) disappeared and I assumed it had sold. The agent left a message yesterday that it had been reduced to 100k. I found a new fresh listing yesterday that I linked to in my comment Above and a new blog post.
i bet the reno would be 100K more....
It might take that. What an investor would want to do is get it rented up unit by unit to start an incoming cash flow. What would kill you is having to drop that kind of money on the infrastructure immediately. You would want to have that evaluated by a building inspector to know in advance. I've seen it from the outside only.
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Located historic old allentown / 4 floors 2,500 sf each, 12' ceilings.
- bill 3-05-2012 4:19 pm
SWEET!
- Justin (guest) 3-06-2012 4:59 am [add a comment]
Check it out on Google Maps street view. That looks like a nice street. Trees in bloom, neighbors sitting out on their porches....
- Justin (guest) 3-06-2012 5:03 am [add a comment]
I think this is in a good allentown neighborhood. Part of the historic district. I agree, it is a stunner. Note 19th century factory building as prototype of Bauhaus design. If financeable, one floor could be for personal use and the other three rented out. If not financeable, 4 people w $37.5 k each gets each investor 1 floor, 2500 sf each. Each of which could be rented out for say $1000.00 per month paying the investment off in 38 months or just over 3 years. I'm not sure the 2 residential units are legit though. I love this property and am imagining what a great studio it would make. Brick back wall and a 100' bank of norther light pouring in. I dig the radiators too. Heating could be an issue.
- bill 3-06-2012 1:29 pm [add a comment]
I'd bet you can absolutely get financing for that. Can't hurt to enquire about zoning for live/work, or whatever.
- Justin (guest) 3-06-2012 3:30 pm [add a comment]
I went by today. Nice neighborhood. Stickers in window indicate back taxes owed and mentions building violations that must be rectified. Still very nice building.
- bill 3-28-2012 1:33 am [add a comment]
Recd call from agent that this is back on the market. Was in "agreement" which fell through based on buyers zoning hearing.
- bill 5-08-2012 2:11 pm [add a comment]
Just heard from agent that it's been reduced to $100k. I LOVE THIS PLACE!!!! Rent out 3 floors, use one floor for studio! New link. Now 4 people w $25k ea will do it.
- bill 8-28-2012 4:58 pm [add a comment]
The property taxes on my house are higher.
- L.M. 8-29-2012 1:14 am [add a comment]
Right. $245 a month.
- bill 8-29-2012 4:07 am [add a comment]
sold?
- steve 8-29-2012 5:02 am [add a comment]
That listing (original post) disappeared and I assumed it had sold. The agent left a message yesterday that it had been reduced to 100k. I found a new fresh listing yesterday that I linked to in my comment Above and a new blog post.
- bill 8-29-2012 12:15 pm [add a comment]
i bet the reno would be 100K more....
- Skinny 8-29-2012 4:29 pm [add a comment]
It might take that. What an investor would want to do is get it rented up unit by unit to start an incoming cash flow. What would kill you is having to drop that kind of money on the infrastructure immediately. You would want to have that evaluated by a building inspector to know in advance. I've seen it from the outside only.
- bill 8-29-2012 4:47 pm [add a comment]