Four-Unit Apartment
For Sale
$695,000
139 8th Street, Allentown, PA 18101
Income-producing property with a two-bedroom unit and three one-bedroom apartments under long-term leases.
Property Size2,640 SF
Days on Market115
Property Features for 139 8th Street
General Information
Standard status
Active
Size
2,640 SF
Total Parking Spaces
5
Property subtype
Apartment
Occupancy
100%
Units
Unit Mix
1 x 2BR, 3 x 1BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,167
Building Details
Building Size
2,640 SF
Year Built
1890
Listing Agency:
Boutique One Properties LLC
Listed By:
Ellen V. Benner
(610) 867-3900
Source:
Bhhspaulfordrealtors
Added: Jun 25
Changed: Oct 16
Last Checked: Oct 16 at 2:22PM
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 Boutique One Properties LLC
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Investment Insights
Based on property information with market context.
This 1890 apartment building contains four units: one two-bedroom apartment and three one-bedroom apartments. Multiple units received extensive renovations during the current ownership period, and all apartments are occupied under long-term leases.
The property includes a 5-car off-street parking lot and is located near Allentown’s Hamilton St shopping district and PPL Center. The existing unit mix provides a straightforward multifamily configuration, with potential for rent increases across the units as leases and market conditions permit.
The property includes a 5-car off-street parking lot and is located near Allentown’s Hamilton St shopping district and PPL Center. The existing unit mix provides a straightforward multifamily configuration, with potential for rent increases across the units as leases and market conditions permit.
Key Highlights
- Four‑unit apartment building with one 2‑bedroom and three 1‑bedroom apartments
- All units fully occupied under long‑term leases
- Extensive renovations completed in multiple units during ownership
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,692
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,840
$553.8K
Cap Rate 7%
$395,600
$395.6K
Cap Rate 9%
$307,689
$307.7K
Market Conditions
NOI Build-Up for 2,640 SF
Gross rent
$42.8K $16.20/SF
− Vacancy
−$3.2K −$1.22/SF
EGI
$39.6K $14.99/SF
− OpEx
−$11.9K −$4.50/SF
NOI
$27.7K $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 Rate 5%
$553,840
Cap Rate 7%
$395,600
Cap Rate 9%
$307,689
Alternative Uses
Best Use
Multifamily LT 5
$395.6K
$346.2K – $461.5K
NOI $27,692 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$348.0K
$304.5K – $406.0K
NOI $24,359 @ 7.0% cap · market cap 3.50%
Theoretical Best
Specialty Retail
$518.6K
$453.8K – $605.1K
NOI $36,305 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,858
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Income-producing property with a two-bedroom unit and three one-bedroom apartments under long-term leases.
Where is this quadplex located?
The property is located at 139 8th Street Allentown, PA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Four‑unit apartment building with one 2‑bedroom and three 1‑bedroom apartments; All units fully occupied under long‑term leases; Extensive renovations completed in multiple units during ownership
