Over 190% value growth — same address, totally different story.
At LVPE Fund, we don’t chase hype, we build long-term value. And sometimes, that starts with properties most people overlook. When we came across 39 N 11th Street in Allentown, PA, it wasn’t flashy. But it had great bones, a strong location, and the kind of upside you only unlock through vision, capital, and execution.
When we acquired 39 N 11th Street in the heart of Allentown, PA, we saw more than an aging structure — we saw potential. This 7-unit multifamily asset was dated, underoptimized, and in need of serious work. But its location, size, and structural bones made it the perfect target for a full-scale value-add transformation. We closed at $340,000 — and set our sights on unlocking something far greater.
The Makeover That Made the Difference
Over the course of several months, we invested in deep, strategic renovations across the board.
New hardwood flooring
Brand-new kitchens with updated cabinets and modern appliances
Fresh paint, new windows in several units, and upgraded bathrooms
Efficient HVAC systems and split units for heating and cooling
A lovely courtyard for tenants and balconies with views in the top-floor units
But one of the most game-changing upgrades? Separated water utilities. Each tenant now pays their own usage — boosting NOI and reducing overhead.
The result: A tired property became a fully stabilized, fully rented, and fully cash-flowing asset, now listed at $1,000,000 — a value increase of over 190% from the original purchase price.
Performance Snapshot
Gross Income: $118,380/year
Net Operating Income (NOI): $101,327/year
Cap Rate (Listed Basis): 9.4%
Cap Rate (All-In Investment Basis): ~13.6%*
Occupancy: 100% with long-term leases
Tenant Appeal: Central AC, modern finishes, natural light, and private balconies
As the Allentown market continues to grow — fueled by retail and warehouse development — this property is positioned to generate passive returns for years to come.
This isn’t just a renovation. It’s a strategy — and one we repeat.
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*Cap rate calculated on total project cost of $740,000 (purchase + renovation) and NOI of $101,327.