Detached Three-Unit
New
For Sale
$499,900
1839 Richmond Avenue, Bethlehem, PA 18018
ResidentialIncome, Bethlehem City, PA
Property Size2,370 SF
Lot Size0.14 Acres
Price / SF$210.93
Days on Market3
Property Features for 1839 Richmond Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Rg
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3
Parking
4
Parking features
On Street, Garage, Off Street
Subdivision
Hill Top
Elementary school district
Bethlehem
Middle school district
Bethlehem
High school district
Bethlehem
Directions
From Union Blvd in West Bethlehem, West on Kenmore Avenue, Left on Tioga Avenue, To Left on Richmond Avenue.
Standard status
Active
APN
641778991291-1
Size
2,370 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
5782
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1905
Floors in Building
2
Number of units
3
Flooring type
Carpet, Hardwood
Building materials
VinylSiding
Listing Agency:
BetterHomes&GardensRE/Cassidon
(610) 882-3135
Listed By:
Brian T. Heslin
(610) 657-4240
Added: Sep 10
Last Checked: Sep 12 at 5:06PM
MLS# 784158
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 detached triplex contains three residential units within a 2,370-square-foot building constructed in 1905. The first-floor residence features hardwood flooring, an eat-in kitchen with granite countertops, cherry-toned cabinetry, stainless steel appliances, a laundry room, and access to a newer Trex deck. The upper front unit has been remodeled and has not previously been occupied, while the upper rear apartment has its own exterior entrance and a long-term month-to-month tenant. All three units include central air, and vinyl replacement windows are installed throughout.
The property occupies 0.138 acres in Bethlehem City and includes a heated enclosed front porch, full basement, public water, public sewer, high-efficiency natural-gas heat and hot water, a one-car detached garage, and a paved parking pad. Exterior improvements include landscaped stone beds and lighting. The property is zoned Rg and has a clear certificate of occupancy from the City of Bethlehem at settlement.
The property occupies 0.138 acres in Bethlehem City and includes a heated enclosed front porch, full basement, public water, public sewer, high-efficiency natural-gas heat and hot water, a one-car detached garage, and a paved parking pad. Exterior improvements include landscaped stone beds and lighting. The property is zoned Rg and has a clear certificate of occupancy from the City of Bethlehem at settlement.
Key Highlights
- Three‑unit detached property with 2,370 square feet of building area
- 0.138‑acre lot in Bethlehem City, PA 18018
- First‑floor and upper front units remodeled within the past 2–3 years
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
$15,852
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
3.17%
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%
$317,040
$317.0K
Cap Rate 7%
$226,457
$226.5K
Cap Rate 9%
$176,133
$176.1K
Market Conditions
NOI Build-Up for 2,370 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
$24.5K $10.32/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$22.6K $9.56/SF
− OpEx
−$6.8K −$2.87/SF
NOI
$15.9K $6.69/SF
Area
Lehigh County, PA
Vacancy
7.41%
Lease Rate
$10.32 /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%
$317,040
Cap Rate 7%
$226,457
Cap Rate 9%
$176,133
Alternative Uses
Best Use
Multifamily LT 5
$226.5K
$198.2K – $264.2K
NOI $15,852 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$197.8K
$173.1K – $230.8K
NOI $13,845 @ 7.0% cap · market cap 2.77%
Theoretical Best
Mixed Use
$348.5K
$305.0K – $406.6K
NOI $24,396 @ 7.0% cap · market cap 4.88%
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
384
Businesses Nearby
Explore this area
Business Placement
Demographics for 18018, PA
32,388
Population
14,669
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,228
Density / Sq Mi
$71,968
Median Household Income
$43,471
Median Earnings
$1,261
Median Rent
$224,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Owner-occupancy setup with two remodeled units, central air, and a separate-entry apartment with a month-to-month tenant.
Where is this triplex located?
The property is located at 1839 Richmond Avenue Bethlehem, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Three‑unit detached property with 2,370 square feet of building area; 0.138‑acre lot in Bethlehem City, PA 18018; First‑floor and upper front units remodeled within the past 2–3 years
