Quadplex with Off-Street
For Sale
$695,000
139 8th Street, Allentown, PA 18101
ResidentialIncome, Allentown City, PA
Property Size2,640 SF
Lot Size0.06 Acres
Price / SF$263.26
Days on Market78
Property Features for 139 8th Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
R-H
Parking
5
Parking features
Off Street, Parking Lot
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
22 to MacArthur Road exit. Take MacArthur Road south into Allentown. Right on Union Street. Right on 8th Street. Building on right.
Standard status
Active
APN
640609939210-1
Size
2,640 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
4167
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1890
Floors in Building
3
Number of units
5
Building materials
Brick
Listing Agency:
Boutique One Properties LLC
(610) 628-1107
Listed By:
Ellen V. Benner
(610) 867-3900
Added: Jun 25
Changed: Sep 2
Last Checked: Sep 10 at 11:06AM
MLS# 779665
Copyright © 2026 Greater Lehigh Valley REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick quadplex contains 2,640 square feet arranged as one two-bedroom apartment and three one-bedroom apartments. The building was constructed in 1890 and has undergone extensive renovations in multiple units. Electric heating, window-unit cooling, public water, and public sewer serve the property, with a five-car off-street parking lot included.
All four units are occupied under long-term leases. The property is zoned R-H and sits near Allentown’s Hamilton Street shopping district and PPL Center, providing an urban setting close to established shopping and entertainment destinations.
All four units are occupied under long-term leases. The property is zoned R-H and sits near Allentown’s Hamilton Street shopping district and PPL Center, providing an urban setting close to established shopping and entertainment destinations.
Key Highlights
- Four‑unit building with one 2‑bedroom apartment and three 1‑bedroom apartments
- 2,640 square feet on 0.055 acres
- Fully occupied with long‑term leases
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,692
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$553,840
$553.8K
Cap Rate 7%
$395,600
$395.6K
Cap Rate 9%
$307,689
$307.7K
Market Conditions
NOI Build-Up for 2,640 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.8K $16.20/SF
− Vacancy
−$3.2K −$1.22/SF
EGI
$39.6K $14.99/SF
− OpEx
−$11.9K −$4.50/SF
NOI
$27.7K $10.49/SF
Area
Allentown, PA
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$553,840
Cap Rate 7%
$395,600
Cap Rate 9%
$307,689
Alternative Uses
Best Use
Multifamily LT 5
$395.6K
$346.2K – $461.5K
NOI $27,692 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$348.0K
$304.5K – $406.0K
NOI $24,359 @ 7.0% cap · market cap 3.50%
Theoretical Best
Specialty Retail
$518.6K
$453.8K – $605.1K
NOI $36,305 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,530
Businesses Nearby
Explore this area
Business Placement
Demographics for 18101, PA
5,108
Population
2,686
Households
1.9
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
0.3 sq mi
ZIP Area
17,027
Density / Sq Mi
$41,542
Median Household Income
$34,397
Median Earnings
$1,337
Median Rent
$153,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied four-unit residential income property with varied apartment layouts and recent renovations in multiple units.
Where is this quadplex located?
The property is located at 139 8th Street Allentown, PA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Four‑unit building with one 2‑bedroom apartment and three 1‑bedroom apartments; 2,640 square feet on 0.055 acres; Fully occupied with long‑term leases
