Three-Unit Residential Income
322 RIDGE Avenue Allentown, PA 18102
322 RIDGE Avenue, Allentown, PA, 18102
$414,000
For Sale
$414,000
MULTI_FAMILY - ALLENTOWN, PA
Property Size3,978 SF
Lot Size0.12 Acres
Price / SF$104.07
Days on Market17
Property Features for 322 RIDGE Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 2
- Parking features
- On Street, Garage - Detached
- Standard status
- Active
- Size
- 3,978 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6001
Utilities
- Heating system
- Forced Air
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1863
- Number of units
- 3
- Building materials
- Stucco
Listing agency
Keller Williams Real Estate - Allentown
(610) 435-1800
Listed by
AYON Abraham CODNER · License #RS324477
(610) 435-1800
Added: Jul 6 Updated: Jul 9 at 11:11AM Checked: Jul 22 at 7:06PM
MLS# PALH2016114
Copyright © 2026 Bright MLS. 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 three-unit residential income triplex includes occupied living space on the second and third floors by long-term tenants. The property also has approved plans to create an additional third three-bedroom apartment within the existing retail space, supporting a transition to a larger residential layout.
Located at 322 Ridge Avenue in Allentown, PA, the property sits in a residential area on Ridge Avenue. It is described as being about three blocks from the newly constructed Jaindl Enterprise Waterfront mixed-use Class A building. The area is also referenced alongside Allentown’s Vision 2030 Initiative, which includes plans for neighborhood revitalization.
For buyers or operators seeking a multi-unit asset, the current configuration provides established upper-floor occupancy, while the approved plans offer a clear path to expand the residential unit count within the structure. This makes the property most relevant for investors or owner-occupants evaluating both existing rental income and the feasibility of converting the retail space to an additional apartment under the approved scope.
Located at 322 Ridge Avenue in Allentown, PA, the property sits in a residential area on Ridge Avenue. It is described as being about three blocks from the newly constructed Jaindl Enterprise Waterfront mixed-use Class A building. The area is also referenced alongside Allentown’s Vision 2030 Initiative, which includes plans for neighborhood revitalization.
For buyers or operators seeking a multi-unit asset, the current configuration provides established upper-floor occupancy, while the approved plans offer a clear path to expand the residential unit count within the structure. This makes the property most relevant for investors or owner-occupants evaluating both existing rental income and the feasibility of converting the retail space to an additional apartment under the approved scope.
Key Highlights
- Three‑unit investment property in Allentown, PA
- Second and third floors are occupied by long‑term tenants
- Approved plans to create a third three‑bedroom apartment in the retail space
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.6k | $18.00 |
| − Vacancy | −$4.9k | −$1.22 |
| EGI | $66.7k | $16.78 |
| − OpEx | −$30.0k | −$7.55 |
| NOI | $36.7k | $9.23 |
3,978 SF · lease $18.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$596.1K
$521.6K – $695.5K
NOI $41,727 @ 7.0% cap · market cap 10.08%
Second Best
Apartment 5plus
$524.3K
$458.8K – $611.7K
NOI $36,704 @ 7.0% cap · market cap 8.87%
Theoretical Best
Specialty Retail
$781.5K
$683.8K – $911.8K
NOI $54,705 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Resort World Unisex ...
Hair Salon
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Triplex with long-term tenants on the upper floors and approved plans to add a third three-bedroom apartment.
Where is this triplex located?
The property is located at 322 RIDGE Avenue Allentown, PA.
What is the asking price?
The asking price for this property is $414,000.
What are key features of this property?
This property features: Three‑unit investment property in Allentown, PA; Second and third floors are occupied by long‑term tenants; Approved plans to create a third three‑bedroom apartment in the retail space
