Unfortunate pump and dump with shoddy rehab in Allentown

[Omar Hamza]

Hey folks, for all the good this community does I think we should also highlight bad and morally questionable practices that would harm this business. I have been searching for low COI cities with a focus on transit-oriented development and seeing what cities could be candidates for growth.  I was surveying Allentown and came across a property that had been purchased in early 2022. In that time, rents were increased on 2 units from about $900/M in rent to $1300/M in the span of a month all of who are low income. One unit has vacated and another is in the process. 

There is shoddy work all over the house, such as drywall covering areas where the roof leaked and obvious bubbling and mold smell in the top unit I got a picture of the roof but not the drywall in the tenants apartment. This is cleverly hidden in the listing.

Clearly, besides the fact that that property is overpriced on bogus numbers, it is a pretty deadbeat move that hurts this business. RE investors should bring value to their communities, not milk them.

This was at 510 N 9th St