Julian Court Apartments

1521 W. Union Street; Allentown, PA 18102

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Property Details

  • Price$ 1,650,000
  • Property TypeMulti Unit Housing
  • NeighborhoodLehigh County
  • Number of Units20
  • Lot Size0.3 acres
  • Price/Unit$ 82,500
  • Price/Bedroom-
  • Year Built1940

Investment Highlights

  • Value-Add Opportunity: Ability to Renovate Units and Increase Rents 15% to 20%
  • Improve Unit Mix: Convert Dining Rooms into Additional Bedrooms to Increase Rents
  • Development Aspect: Opportunity to Develop on Fulton Street Parcel (5,145± SF)
  • Transit-Friendly: One Block to Public Transportation for Numerous Bus Routes
  • Walkability: Hamilton District, Allentown’s Center City, within Walking Distance
  • Sizable Units: Spacious Units with Formal Dining Room, Open Feel and Natural Light

Investment Overview
On behalf of ownership, Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in Julian Court Apartments, a 20-unit apartment property situated on the border of the highly sought-after West End District of Allentown. Built in 1940, Julian Court Apartments is a luxurious, vintage, four-story apartment building that boasts a classic style and a historic feel. The property consists of (2) studios, (15) one-bedroom, and (3) two-bedroom units. Every apartment offers spacious floor plans with great natural light. Heat and hot water are included in the rent, while electric and cooking gas are separately metered and paid for by the tenant. The building features a brick exterior and a flat roof. Also included is a coin-operated laundry facility, (4) garages and (8) off-street parking spaces which are rented out by the landlord.

Julian Court is well served by its proximity to Hamilton District – the “new” downtown commercial district and cultural heart of the Lehigh Valley – which boasts unique ethnic restaurants, a historic arts district, and store-front businesses that make this a vibrant center of urban life. Residents and visitors alike discover a wide array of culture, entertainment, and history. The Hamilton District Main Street Program consists of the geographic borders of 5th Street to 12th Street, and from Walnut to Linden Streets, and is supported by adjoining city neighborhoods and the riverfront.  Popular restaurants such as The Dime, The Hamilton Kitchen, ROAR Social House, Queen City BBQ, Centro, Grain and Allentown Brew Works add to local favorites.  Other attractions include Allentown Symphony Hall, the Allentown Art Museum and Arts Park. The Hamilton District is also home to many treasures including the PPL Center, Tucker’s Yarn, Studio 606 and Youth Education in the Arts.

Residents of Julian Court enjoy convenient access to Routes 22 and 309 that feed into Interstate-78, PA Route 222 and Interstate-476. In addition, its location is in close proximity to many of Lehigh County’s top colleges and universities including Muhlenberg College (1.5 miles); Cedar Crest College (2 miles); Penn State Lehigh Valley (7 miles); Lehigh University (6.5 miles); and DeSales University (8.5 Miles). Further, many of the area’s top employers are nearby including Lehigh Valley Hospital (4 miles); Lehigh International Airport (6.5 miles); Sacred Heart Healthcare System (1.8 miles); and Sands Casino Resort (8 miles).

Due to the revitalization efforts in the City of Allentown, over $1 billion has been spent over the past five years. Much of the focus has been on building new office space and attracting companies to move their headquarters to Allentown. This has created a growing market for luxury apartment living within the city limits. Julian Court Apartments provides a unique value-add opportunity to tap into that market by renovating kitchens and bathrooms and increase rents by as much as 20%.

Offering Memorandum


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NOTE: Outside Brokers must complete this Cooperating Broker Agreement and return via email to info@rittenhouserealty.com or fax to 267-324-3394.

Brokers

Corey Lonberger
Tel: (215) 454-2852 EXT 1001
Cell: (267) 760-3726
License: PA RS279134 / DE RS0016407
corey@rittenhouserealty.com

Ken Wellar
Tel: (215) 454-2852 EXT 1002
Cell: (610) 745-4800
License: PA RS289487 / NJ 1005492
ken@rittenhouserealty.com

Luke DeLuca
Tel: (215) 454-2852 EXT 1014
Cell: (646) 712-7360
License: PA RSR001990
luke@rittenhouserealty.com

Mark Duszak
Tel: (215) 454-2852 EXT 1003
Cell: (215) 805-5011
License: PA RS277420 / NJ 0047530
mark@rittenhouserealty.com



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