Turnkey Multifamily
For Sale
Contact for pricing
105 2nd St, Slatington, PA 18080
Fully occupied seven-unit building with off-street parking, leased garages, and an on-site coin-operated laundry.
Property Size5,893 SF
Price / SF$182.42
Days on Market83
Property Features for 105 2nd St
General Information
Standard status
Active
Size
5,893 SF
Class
B
Property subtype
Multifamily
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$78,938
Building Details
Year Built
1900
Buildings
2
Units
7
Tenancy
Multi
Listing Agency:
EXP Realty
Listed By:
Akinlana Popoola · License #RS379206
(412) 925-5551
Source:
Crexi
Added: Jun 15
Changed: Aug 26
Last Checked: Sep 1 at 9:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty
Investment Insights
Based on property information with market context.
This fully occupied seven-unit multifamily property is arranged with four 3-bedroom units and three 2-bedroom units. The building includes six off-street parking spaces and two leased garages, along with a coin-operated laundry facility that provides additional income. Tenants pay for electric and heat, and the property is fully converted to all-electric systems. Landlord expenses are limited to taxes, insurance, and water/sewer/trash.
Recent capital improvements include full sewer line replacement (cast iron to PVC), extensive PEX water line upgrades, installation of seven new electric hot water heaters, and roof and siding improvements. A laundry room installation and multiple apartment renovations are also noted as part of over $200,000 in completed upgrades, supporting the property’s turnkey appeal.
Recent capital improvements include full sewer line replacement (cast iron to PVC), extensive PEX water line upgrades, installation of seven new electric hot water heaters, and roof and siding improvements. A laundry room installation and multiple apartment renovations are also noted as part of over $200,000 in completed upgrades, supporting the property’s turnkey appeal.
Key Highlights
- Fully occupied 7‑unit multifamily generating $120,117 gross income and $78,938 net income.
- Unit mix includes four 3‑bedroom units and three 2‑bedroom units.
- Capital improvements exceed $200,000, including full sewer line replacement (cast iron to PVC).
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
$34,426
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
3.20%
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%
$688,520
$688.5K
Cap Rate 7%
$491,800
$491.8K
Cap Rate 9%
$382,511
$382.5K
Market Conditions
NOI Build-Up for 5,893 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
$67.9K $11.52/SF
− Vacancy
−$5.3K −$0.90/SF
EGI
$62.6K $10.62/SF
− OpEx
−$28.2K −$4.78/SF
NOI
$34.4K $5.84/SF
Area
Lehigh County, PA
Vacancy
7.80%
Lease Rate
$11.52 /SF/Yr
Expense Ratio
45.00%
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%
$688,520
Cap Rate 7%
$491,800
Cap Rate 9%
$382,511
Alternative Uses
Best Use
Apartment 5plus
$491.8K
$430.3K – $573.8K
NOI $34,426 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$866.6K
$758.3K – $1.01M
NOI $60,661 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
Explore this area
Business Placement
Demographics for 18080, PA
11,454
Population
4,947
Households
2.3
Avg Household Size
45
Median Age
20%
College-Educated
91%
High-School Grad
30.2 sq mi
ZIP Area
379
Density / Sq Mi
$73,947
Median Household Income
$47,723
Median Earnings
$808
Median Rent
$254,200
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 - Fully occupied seven-unit building with off-street parking, leased garages, and an on-site coin-operated laundry.
Where is this apartment building located?
The property is located at 105 2nd St Slatington, PA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Fully occupied 7‑unit multifamily generating $120,117 gross income and $78,938 net income.; Unit mix includes four 3‑bedroom units and three 2‑bedroom units.; Capital improvements exceed $200,000, including full sewer line replacement (cast iron to PVC).
