Five-Unit Brick Apartment
For Sale
$360,000
22 S 13th Street, Allentown, PA 18102
ResidentialIncome, Allentown City, PA
Property Size2,404 SF
Price / SF$149.75
Days on Market65
Property Features for 22 S 13th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
resi-med
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 5, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 1
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
Head toward N Church St. Turn left onto N 6th St. Turn left onto Linden St.Turn left onto N 13th St. Destination will be on the right
Standard status
Active
APN
549678784561 001
Size
2,404 SF
Taxes and HOA fees
Tax Annual Amount
2994
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1905
Floors in Building
3
Number of units
5
Building materials
Brick
Listing Agency:
Steel City Realty
(484) 895-9005
Listed By:
Jennifer L. DeJesus · License #RM423820
(484) 895-9005
Added: Jun 29
Changed: Aug 19
Last Checked: Sep 1 at 1:06PM
MLS# 779543
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 2,404-square-foot apartment building contains five units, combining one apartment with four shared rooms. The interior room schedule includes five bedrooms and two bathrooms. Built in 1905, the property has brick construction and is heated by natural gas.
Located at 22 S 13th Street in Allentown City, Pennsylvania, the building is served by public water and public sewer. The property carries resi-med zoning, providing the stated residential land-use designation for the asset.
Located at 22 S 13th Street in Allentown City, Pennsylvania, the building is served by public water and public sewer. The property carries resi-med zoning, providing the stated residential land-use designation for the asset.
Key Highlights
- Five‑unit configuration with one apartment and four shared rooms
- 2,404 square feet of building area
- Brick construction dating to 1905
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 - Brick construction with public water and sewer service.
Where is this apartment building located?
The property is located at 22 S 13th Street 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 configuration with one apartment and four shared rooms; 2,404 square feet of building area; Brick construction dating to 1905
