5-Unit Apartment
New
For Sale
$360,000
22 S 13th St, Allentown, PA 18102
Offers a mix of private apartment and shared-room accommodations.
Property Size2,404 SF
Price / SF$149.75
Days on Market7
Property Features for 22 S 13th St
General Information
Standard status
Active
Size
2,404 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x apartment, 4 x shared room
Multifamily Units
5
Building Details
Year Built
1905
Buildings
1
Listing Agency:
Steel City Realty
(484) 895-9005
Listed By:
Jennifer L. DeJesus · License #RM423820
Source:
Jennysoldmine
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 29 at 12:22PM
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 Steel City Realty
Investment Insights
Based on property information with market context.
This 2404-square-foot apartment building was constructed in 1905 and contains five units. The layout includes one apartment alongside four shared rooms, providing a mixed configuration of conventional and shared residential accommodations.
The property is located at 22 S 13th St in Allentown City, Pennsylvania, within ZIP code 18102. Its apartment-building classification and combination of private and shared spaces define the asset’s current physical arrangement.
The property is located at 22 S 13th St in Allentown City, Pennsylvania, within ZIP code 18102. Its apartment-building classification and combination of private and shared spaces define the asset’s current physical arrangement.
Key Highlights
- Five‑unit apartment building
- 2404 SF property
- One apartment plus four shared rooms
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
$22,181
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
6.16%
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%
$443,620
$443.6K
Cap Rate 7%
$316,871
$316.9K
Cap Rate 9%
$246,456
$246.5K
Market Conditions
NOI Build-Up for 2,404 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
$43.3K $18.00/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$40.3K $16.78/SF
− OpEx
−$18.1K −$7.55/SF
NOI
$22.2K $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 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%
$443,620
Cap Rate 7%
$316,871
Cap Rate 9%
$246,456
Alternative Uses
Best Use
Apartment 5plus
$316.9K
$277.3K – $369.7K
NOI $22,181 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$472.3K
$413.3K – $551.0K
NOI $33,060 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,815
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Offers a mix of private apartment and shared-room accommodations.
Where is this apartment building located?
The property is located at 22 S 13th St Allentown, PA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Five‑unit apartment building; 2404 SF property; One apartment plus four shared rooms
