266 E Walnut St Allentown City, PA 18109
Property details
About 266 E Walnut St
6-Unit Investment Property | 13 Bedrooms | $85K+ Gross Annual Income Turnkey 6-unit multifamily asset in East Allentown offering over 5,200 square feet of income-producing real estate. Built in 1910 and situated on a 0.138-acre lot, this fully leased brick property features 13 total bedrooms across six spacious units — a mix of 2- and 3-bedroom layouts — with leases in place and some units on month-to-month for added flexibility. Tenants cover gas heat via RUBS (Ratio Utility Billing System), and five of six units also pay water/sewer, keeping operating expenses lean. Property generates a gross annual income of $85,448 with net income of $60,552 and low owner-paid utilities (only one unit not on RUBS). Recent annual expenses total approx. $22,372, including taxes, management, and maintenance. Investment Highlights: • Gross Scheduled Income: $85,448 • Net Operating Income (NOI): $60,552 • 6 Units / 13 Bedrooms • Off-Street Parking for 8+ Vehicles • Fully Occupied with Reliable Rental History • RUBS Utility Billing | Brick Construction | Stable Cash Flow Perfect for investors seeking immediate returns and long-term equity growth in the heart of Allentown. Showings by appointment only due to tenant occupancy. Current property management company is offering a discount if new buyer stays in management.
Highlights
Summary
- Full Bathrooms: 6
- Total Bedroom Count: 13
- Parking: Off Street, Parking Lot, On Street
- Heating: Natural Gas, Hot Water
- Cooling: Ceiling Fan(s), Wall/Window Unit(s)
- List Price: $795,000
- Price/SqFt: $150
- Directions: From Tilghman St, Take Front St South towards Hamilton Blvd. Get on E Hamilton St/Hamilton St Bridge from Riverside Dr. Follow Hamilton St Bridge to S. Bradford St and make a right. Left onto E. Walnut St.
- Year Built: 1910
- Stories: 3
- Living Area: 5,280 SqFt
- Lot Size: 0.138 Acres
- MLS Number: 759320
- MLS Name: HIGH
- Office Name: CENTURY 21 Pinnacle
- Office Phone: (610) 691-0535
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Lehigh Valley REALTORS®. The MLS Listing Information has not been verified and is not guaranteed by MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.
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Last updated on: 6/18/2025, 12:45:29 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$795,000
266 E Walnut St
$9,441
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Price information
Property sales
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Tax history
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Nearby schools
5
Mosser Elementary School
Public District PK-5
0.2 mi
•129 S Dauphin St
4
Sheridan Elementary School
Public District 1-5
0.9 mi
•521 N 2nd St
3
Arts Academy Elementary Charter School
Public Charter KG-5
1.2 mi
•601 W Union St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $48,853. Most Allentown City, PA residents have annual incomes between $35k-100k. The majority of families are single, no kids. The majority of residents in this area have high school diploma education.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Mexican League Soccer
NHRA Drag Racing
Basketball
Where do the neighbors shop?
Burlington
Big Lots
Ross Dress For Less
Where do the neighbors go to eat?
Church's Chicken
Golden Corral
Jasons Deli
What do the neighbors drive?
Chevrolet
Kia
Acura
What do the neighbors listen to?
Urban Adult Contemporary
Adult Standards- Rhythmic Contemporary Hits
Frequently asked questions
About 266 E Walnut St
The listing price of 266 E Walnut St property is $795,000.
The property 266 E Walnut St is a condo located in Allentown City, Pennsylvania, 18109.
Coming Soon: 266 E Walnut St is Coming Soon. This listing has not previously been on the market, but will be on the market soon (no showings are allowed yet). A listing contract has been executed.
The nearby schools for 266 E Walnut St are: Mosser Elementary School (GreatSchools Rating 5/10), Sheridan Elementary School (GreatSchools Rating 4/10), Arts Academy Elementary Charter School (GreatSchools Rating 3/10), Harrison-Morton Middle School (GreatSchools Rating 3/10), Arts Academy Charter School (GreatSchools Rating 4/10), South Mountain Middle School (GreatSchools Rating 3/10), Roberto Clemente Charter School (GreatSchools Rating 4/10), Executive Education Academy Charter School (GreatSchools Rating 6/10), Louis E. Dieruff High School (GreatSchools Rating 2/10).
The property at 266 E Walnut St has 13 bedrooms and 6 bathrooms.
The property 266 E Walnut St is 5,280 SqFt (source: MLS/tax record).
The year of construction for 266 E Walnut St is 1910.
This home is located at 266 E Walnut St in Allentown City, PA and zip code 18109 in the East Side neighborhood. This 5,280 square foot home, which was built in 1910, sits on a 0.14 acre lot. Features: 13 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since June 16, 2025 and is currently priced at $795,000.
In May 2025, from all listings sold in Allentown City, PA there were more than 61 sold above asking price, over 35 sold below and more than 17 were sold right at the asked price. The number of listings in Allentown City, PA increased by 1.4% between April and May 2025. Listings spent 23 days on the market in May 2025, and had a median list price of $293,933 during the same period.