4-Unit Multifamily
New
For Sale
$519,999
117 N Franklin Street, Allentown, PA 18102
Two buildings share one parcel, with a four-unit rental layout in Allentown.
Property Size2,666 SF
Price / SF$195.05
Days on Market3
Property Features for 117 N Franklin Street
General Information
Standard status
Active
Size
2,666 SF
Property subtype
Residential Income
Zoning
R-MH
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,906
Amenities
true
4
3
Public
2400
0.055
Building Details
Year Built
1905
Buildings
2
Stories
3
Construction
brick
Listing Agency:
(610) 890-9942
Listed By:
Andrew Dilg
Source:
Corbyrealty
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 3:03AM
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 Andrew Dilg
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Investment Insights
Based on property information with market context.
This multifamily property comprises two buildings on a single parcel, with four individual units. The main structure is brick, and a detached residence at 118 N Perry St. is also part of the property. Interior updates and cosmetic work have been completed, and the buildings are described as well maintained. The property was built in 1905 and is zoned R-MH.
The site is in Allentown, near Center City and the West Park area. Nearby services and destinations include hospitals, major employers, restaurants, schools, and public transportation.
The site is in Allentown, near Center City and the West Park area. Nearby services and destinations include hospitals, major employers, restaurants, schools, and public transportation.
Key Highlights
- Four residential units across two buildings on one parcel
- Detached residence at 118 N Perry St. accompanies the brick multifamily building
- R‑MH zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,599
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,980
$492.0K
Cap Rate 7%
$351,414
$351.4K
Cap Rate 9%
$273,322
$273.3K
Market Conditions
NOI Build-Up for 2,666 SF
Gross rent
$48.0K $18.00/SF
− Vacancy
−$3.3K −$1.22/SF
EGI
$44.7K $16.78/SF
− OpEx
−$20.1K −$7.55/SF
NOI
$24.6K $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%
$491,980
Cap Rate 7%
$351,414
Cap Rate 9%
$273,322
Alternative Uses
Best Use
Apartment 5plus
$351.4K
$307.5K – $410.0K
NOI $24,599 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$523.8K
$458.3K – $611.1K
NOI $36,663 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,959
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two buildings share one parcel, with a four-unit rental layout in Allentown.
Where is this multifamily property located?
The property is located at 117 N Franklin Street Allentown, PA.
What is the asking price?
The asking price for this property is $519,999.
What are key features of this property?
This property features: Four residential units across two buildings on one parcel; Detached residence at 118 N Perry St. accompanies the brick multifamily building; R‑MH zoning
