Three-Unit Apartment Building with
For Sale
$399,900
1334 W Turner Street, Allentown, PA 18102
ResidentialIncome, Allentown City, PA
Property Size2,450 SF
Lot Size0.05 Acres
Price / SF$163.22
Days on Market55
Property Features for 1334 W Turner Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
R-MH
Parking
2
Parking features
Garage
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
W Turner between 13th - 14th St
Standard status
Active
APN
549669989976-1
Size
2,450 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
3438
Utilities
Sewer type
Public Sewer
Heating system
Oil
Water source
Public
Building Details
Year built
1909
Floors in Building
3
Number of units
3
Building materials
Brick
Listing Agency:
Home Team Real Estate
(610) 419-8888
Listed By:
Jesse J. Chupella
(484) 550-2530
Added: Aug 4
Changed: Sep 24
Last Checked: Sep 27 at 4:06PM
MLS# 782058
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 2,450-square-foot brick triplex contains two one-bedroom apartments on the first and second floors, plus a studio on the third. A detached two-car garage provides additional space. Building improvements include a newer heating system, separate electric meters, an updated rubber roof, and replacement windows throughout. The property was built in 1909 and is zoned R-MH.
Located at 1334 W Turner Street in Allentown, the property has public water and public sewer. The 0.05-acre parcel includes garage parking.
Located at 1334 W Turner Street in Allentown, the property has public water and public sewer. The 0.05-acre parcel includes garage parking.
Key Highlights
- Three units: two one‑bedroom apartments and one third‑floor studio
- 2,450 square feet on a 0.05‑acre parcel
- Detached two‑car garage
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
$25,699
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
6.43%
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%
$513,980
$514.0K
Cap Rate 7%
$367,129
$367.1K
Cap Rate 9%
$285,544
$285.5K
Market Conditions
NOI Build-Up for 2,450 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
$39.7K $16.20/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$36.7K $14.99/SF
− OpEx
−$11.0K −$4.50/SF
NOI
$25.7K $10.49/SF
Area
Allentown, PA
Vacancy
7.50%
Lease Rate
$16.20 /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%
$513,980
Cap Rate 7%
$367,129
Cap Rate 9%
$285,544
Alternative Uses
Best Use
Multifamily LT 5
$367.1K
$321.2K – $428.3K
NOI $25,699 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$322.9K
$282.6K – $376.8K
NOI $22,606 @ 7.0% cap · market cap 5.65%
Theoretical Best
Specialty Retail
$481.3K
$421.2K – $561.5K
NOI $33,692 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include two one-bedroom apartments and a third-floor studio, with a detached garage on site.
Where is this triplex located?
The property is located at 1334 W Turner Street Allentown, PA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Three units: two one‑bedroom apartments and one third‑floor studio; 2,450 square feet on a 0.05‑acre parcel; Detached two‑car garage
