Three-Unit Multifamily
For Sale
$399,900
1334 West Turner Street, Allentown, PA 18102
Multifamily property with two one-bedroom apartments, a studio, and detached garage.
Property Size2,450 SF
Days on Market17
Property Features for 1334 West Turner Street
General Information
Standard status
Active
Size
2,450 SF
Total Parking Spaces
2
Property subtype
Apartment
Units
Unit Mix
2 x 1BR, 1 x studio
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,438
Building Details
Building Size
2,450 SF
Year Built
1909
Stories
3
Listing Agency:
Home Team Real Estate
(610) 419-8888
Listed By:
Jesse J. Chupella
Source:
Bhhspaulfordrealtors
Added: Aug 4
Changed: Aug 15
Last Checked: Aug 20 at 11:27AM
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 Home Team Real Estate
Investment Insights
Based on property information with market context.
This 1909 multifamily property includes three residential units arranged across three floors. The first and second floors each contain a one-bedroom apartment, while the third floor provides a studio layout. A detached 2-car garage is also included and is currently empty.
Property improvements include a newer heating system, separate electric meters, an updated rubber roof, and replacement windows throughout. The unit mix provides two one-bedroom apartments alongside a studio, with the garage adding a separate accessory structure to the property.
Property improvements include a newer heating system, separate electric meters, an updated rubber roof, and replacement windows throughout. The unit mix provides two one-bedroom apartments alongside a studio, with the garage adding a separate accessory structure to the property.
Key Highlights
- Three‑unit layout with two 1‑bedroom apartments and one studio
- Detached 2‑car garage currently empty
- Separate electric meters for the residential units
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
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property with two one-bedroom apartments, a studio, and detached garage.
Where is this triplex located?
The property is located at 1334 West 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‑unit layout with two 1‑bedroom apartments and one studio; Detached 2‑car garage currently empty; Separate electric meters for the residential units
