Julian Court 1521 W Union St Immeuble residentiel 20 lots 3 562 440 € (178 122 €/Lot) Taux de capitalisation 6,79 % Allentown, PA 18102

Julian Court Apartments is a 20-unit multifamily asset located at the gateway to Allentown’s desirable West End District. Built in 1940, this stately four-story brick building combines timeless architectural character with large, light-filled floor plans, making it an attractive option for residents seeking charm, space, and convenience.
The Property features a well-balanced unit mix of (16) one-bedroom units, (3) two-bedroom units, and (1) three-bedroom apartment. Each unit offers expansive layouts and abundant natural light. Heat and hot water are included in the rent, while tenants are responsible for electricity and cooking gas, keeping operating expenses efficient. Income is further enhanced by on-site amenities including a coin-operated laundry, tenant storage units, (2) double garage bays, and (8) off-street parking spaces.
In addition to the long-term appreciation potential that comes with investing in one of the region’s fastest-growing cities, Julian Court offers multiple value-add strategies to drive net operating income and enhance overall property value.
- Interior Modernizations: With kitchens and bathrooms still largely original, the next owner can implement targeted renovations to increase rents by 10% to 15%, while remaining well below competing luxury units in the area.
-Unit Mix Optimization: The building’s unusually large floor plans offer a unique opportunity to add bedrooms or reconfigure layouts by simply adding partition walls, maximizing rentable square footage, and tenant appeal.
- Utility Bill-Back Expansion (RUBS): Current ownership has begun implementing flat utility fees on new leases and renewals, following a growing trend in the local market. Scaling this across the portfolio can materially lower expenses and increase cash flow.
- Parking & Garage Income Growth: Existing garage and off-street parking rents have not been touched in years and represent immediate low-effort upside potential.
- New Storage Income: The property includes underutilized basement space ideal for building tenant storage units, offering attractive ancillary revenue with minimal capital outlay.