11-Unit Renovated Apartment
For Sale
$1,895,000
101 N 8Th Street, Allentown, PA 18101
MULTI_FAMILY - Allentown City, PA
Property Size7,335 SF
Lot Size0.11 Acres
Price / SF$258.35
Days on Market209
Property Features for 101 N 8Th Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
B-2-CENTRAL BUSINESS
Bedrooms
7
Bathrooms
11
Full bathrooms
7
Half bathrooms
4
Rooms
Bathroom 4, Bedroom 2, Bathroom 7, Bathroom 1, Bedroom 3, Bedroom 7, Bathroom 9, Bathroom 5, Bathroom 3, Bathroom 11, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 6, Bathroom 8, Bathroom 10, Bedroom 5, Bedroom 6
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
From 7th Street - Right on Linden - Left on 8th. Property on corner of 8th and Linden.
Standard status
Active
APN
640700471867001
Size
7,335 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
31980
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall Unit(s)
Water source
Public
Amenities
laundry room
security cameras
internet included
Building Details
Year built
1900
Floors in Building
4
Number of units
11
Building materials
Brick
Listing Agency:
BHHS Regency Real Estate · Prudential Real Estate
(610) 432-5252
Listed By:
Andrew A. Ginsburg
(610) 393-0892
Added: Jan 12
Changed: Aug 1
Last Checked: Aug 9 at 9:06PM
MLS# 770406
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 apartment building includes 11 fully renovated units, comprised of 7 residential units and 4 commercial units. Renovations include fully renovated common areas and exterior. The building has electric heat and air conditioning, with electric hot water, and each unit has separate utilities.
Heating and cooling are supported by electric mini-splits in the 7 residential units, while 4 commercial units include mini-splits and heat pumps. Exterior and common areas are monitored by security cameras, and internet is included with tenants’ rent. A newly installed basement laundry room features coin-operated washer/dryers.
The property is located in the NIZ Improvement Zone and Opportunity Zone, and is directly in the heart of ongoing development across from the PPL Event Center, Da Vinci Science Center, and nearby restaurants, retail, and nightlife.
Heating and cooling are supported by electric mini-splits in the 7 residential units, while 4 commercial units include mini-splits and heat pumps. Exterior and common areas are monitored by security cameras, and internet is included with tenants’ rent. A newly installed basement laundry room features coin-operated washer/dryers.
The property is located in the NIZ Improvement Zone and Opportunity Zone, and is directly in the heart of ongoing development across from the PPL Event Center, Da Vinci Science Center, and nearby restaurants, retail, and nightlife.
Key Highlights
- 11 fully renovated units: 7 residential and 4 commercial
- Brick construction built in 1900
- Electric heat and air conditioning with electric hot water; separate utilities by unit
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
$90,345
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
4.77%
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%
$1,806,900
$1.8M
Cap Rate 7%
$1,290,643
$1.3M
Cap Rate 9%
$1,003,833
$1.0M
Market Conditions
NOI Build-Up for 7,335 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
$136.4K $18.60/SF
− Vacancy
−$7.4K −$1.00/SF
EGI
$129.1K $17.60/SF
− OpEx
−$38.7K −$5.28/SF
NOI
$90.3K $12.32/SF
Area
Allentown, PA
Vacancy
5.40%
Lease Rate
$18.60 /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%
$1,806,900
Cap Rate 7%
$1,290,643
Cap Rate 9%
$1,003,833
Alternative Uses
Best Use
Retail
$1.29M
$1.13M – $1.51M
NOI $90,345 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$966.8K
$846.0K – $1.13M
NOI $67,679 @ 7.0% cap · market cap 3.57%
Theoretical Best
Specialty Retail
$1.44M
$1.26M – $1.68M
NOI $100,871 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
3,558
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick building with 11 fully renovated units, split between 7 residential and 4 commercial space.
Where is this apartment building located?
The property is located at 101 N 8Th Street Allentown, PA.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: 11 fully renovated units: 7 residential and 4 commercial; Brick construction built in 1900; Electric heat and air conditioning with electric hot water; separate utilities by unit
