2-Unit Duplex with Rented
For Sale
$329,900
230 S 15th St, Allentown, PA 18102
Both residences and the garage are currently rented, with tenants in place across all three spaces.
Property Size1,514 SF
Price / SF$217.90
Days on Market11
Property Features for 230 S 15th St
General Information
Standard status
Active
Size
1,514 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,560
Building Details
Tenancy
Multi
Listing Agency:
Real of Pennsylvania
(833) 983-1954
Listed By:
Danny Hazim
(610) 844-8773
Source:
Exprealty
Added: Oct 26
Changed: Nov 4
Last Checked: Nov 4 at 2:09PM
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 Real of Pennsylvania
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Investment Insights
Based on property information with market context.
This remodeled duplex in Allentown contains two residential units totaling 1,514 square feet. Both units are occupied, and the garage is also rented, creating three active rental arrangements at the property.
The property is at 230 S 15th St in Allentown, with access to the downtown area, local shopping, dining, and entertainment.
The property is at 230 S 15th St in Allentown, with access to the downtown area, local shopping, dining, and entertainment.
Key Highlights
- Two residential units, both occupied
- Rented garage adds a third active rental space
- 1,514 SF property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,881
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,620
$317.6K
Cap Rate 7%
$226,871
$226.9K
Cap Rate 9%
$176,456
$176.5K
Market Conditions
NOI Build-Up for 1,514 SF
Gross rent
$24.5K $16.20/SF
− Vacancy
−$1.8K −$1.22/SF
EGI
$22.7K $14.99/SF
− OpEx
−$6.8K −$4.50/SF
NOI
$15.9K $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%
$317,620
Cap Rate 7%
$226,871
Cap Rate 9%
$176,456
Alternative Uses
Best Use
Multifamily LT 5
$226.9K
$198.5K – $264.7K
NOI $15,881 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$199.6K
$174.6K – $232.8K
NOI $13,969 @ 7.0% cap · market cap 4.23%
Theoretical Best
Specialty Retail
$297.4K
$260.3K – $347.0K
NOI $20,821 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,895
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences and the garage are currently rented, with tenants in place across all three spaces.
Where is this duplex located?
The property is located at 230 S 15th St Allentown, PA.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Two residential units, both occupied; Rented garage adds a third active rental space; 1,514 SF property
