Five-Unit Brick Apartment
For Sale
Contact for pricing
Pending
106 N Eighth St, Allentown, PA 18101
Fully occupied multifamily asset with updated apartments, tenant-paid utilities, and B-2-Central Business zoning.
Property Size3,200 SF
Days on Market171
Property Features for 106 N Eighth St
General Information
Standard status
Pending
Size
3,200 SF
Class
B
Property subtype
Multifamily
Zoning
B-2-Central Business
Occupancy
100%
Net Operating Income
$73,280
Units
Unit Mix
2 x 2BR, 3 x 1BR
Multifamily Units
5
Additional Details
Gross Income
$82,800
Building Details
Year Built
1900
Buildings
1
Stories
3
Units
5
Construction
brick
Listing Agency:
Steel City Realty
Listed By:
James Reardon · License #PA RS337438
(484) 866-2495
Source:
Crexi
Added: May 1
Changed: Oct 4
Last Checked: Oct 16 at 8:10AM
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 Steel City Realty
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Investment Insights
Based on property information with market context.
This 3,200-square-foot apartment building contains five units: two two-bedroom apartments and three one-bedroom apartments. Built in 1900, the property has a classic brick exterior and updated interiors. Occupancy is reported at 100%, and the building will be delivered with a clear Certificate of Occupancy from the City of Allentown. Tenants pay all utilities other than water and sewer, while landlord responsibilities include taxes, insurance, and water/sewer service.
The property is located at 106 N Eighth St in Allentown’s Old Allentown Historic District, with access to local dining, entertainment, and nearby development activity. It is zoned B-2-Central Business. The seller is also offering 135 N 8th Street, located one block away, creating a potential opportunity to acquire both properties.
The property is located at 106 N Eighth St in Allentown’s Old Allentown Historic District, with access to local dining, entertainment, and nearby development activity. It is zoned B-2-Central Business. The seller is also offering 135 N 8th Street, located one block away, creating a potential opportunity to acquire both properties.
Key Highlights
- Five‑unit configuration with two 2‑bedroom and three 1‑bedroom apartments
- 3,200 square feet on a 0.00‑acre parcel
- 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,526
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,520
$590.5K
Cap Rate 7%
$421,800
$421.8K
Cap Rate 9%
$328,067
$328.1K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$57.6K $18.00/SF
− Vacancy
−$3.9K −$1.22/SF
EGI
$53.7K $16.78/SF
− OpEx
−$24.2K −$7.55/SF
NOI
$29.5K $9.23/SF
Area
Allentown, PA
Vacancy
6.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,520
Cap Rate 7%
$421,800
Cap Rate 9%
$328,067
Alternative Uses
Best Use
Apartment 5plus
$421.8K
$369.1K – $492.1K
NOI $29,526 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$628.7K
$550.1K – $733.4K
NOI $44,006 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
5
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily asset with updated apartments, tenant-paid utilities, and B-2-Central Business zoning.
Where is this apartment building located?
The property is located at 106 N Eighth St Allentown, PA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Five‑unit configuration with two 2‑bedroom and three 1‑bedroom apartments; 3,200 square feet on a 0.00‑acre parcel; 100% occupied
