Student Housing Quadplex
302 W 8TH STREET Bethlehem, PA 18015
302 W 8TH STREET, Bethlehem, PA, 18015
$1,400,000
For Sale
$1,400,000
Four identical, fully occupied townhome-style units with off-street parking and rear decks near Lehigh University.
Property Size7,832 SF
Price / SF$178.75
Days on Market10
Property Features for 302 W 8TH STREET
General Information
- Standard status
- Active
- Size
- 7,832 SF
- Property subtype
- Quadruplex
Building Details
- Year Built
- 1997
Listing agency
Hawkins Real Estate Company
(240) 793-2485
Listed by
Joseph E Hawkins · License #SBR006339
(240) 793-2485
Source
Cummingsrealtors
Added: Jul 13 Updated: Jul 22 at 1:08AM Checked: Jul 22 at 5:18AM
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 Hawkins Real Estate Company
Investment Insights
Based on property information with market context.
This 100% occupied student housing complex consists of four identical townhomes, each with a common living and dining area, kitchen, laundry room, and storage. Each unit includes five bedrooms and two full baths plus one half bath. Exterior and shared convenience features include rear decks and off-street parking, with interior design elements that include wide hallways and staircases.
The property is located across the street from Lehigh University. Improvements and mechanical updates include a newer roof, paint completed within the last two years, and gas heat with central air conditioning replaced within the last five years.
The four-unit configuration provides a consistent layout across the building. The current rental income is reported as $156,000 per year with net income of $132,033, and next year gross income is stated as potentially reaching $192,000.
The property is located across the street from Lehigh University. Improvements and mechanical updates include a newer roof, paint completed within the last two years, and gas heat with central air conditioning replaced within the last five years.
The four-unit configuration provides a consistent layout across the building. The current rental income is reported as $156,000 per year with net income of $132,033, and next year gross income is stated as potentially reaching $192,000.
Key Highlights
- 4 identical townhome‑style units, each 1,958 SF, currently 100% occupied by Lehigh University students
- Located across the street from Lehigh University
- Each unit offers 5 bedrooms with 2 full and 1 half baths, plus common living/dining area and kitchen
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.8k | $10.32 |
| − Vacancy | −$6.0k | −$0.76 |
| EGI | $74.8k | $9.56 |
| − OpEx | −$22.5k | −$2.87 |
| NOI | $52.4k | $6.69 |
7,832 SF · lease $10.32/SF/yr · vacancy 7.41% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$748.4K
$654.8K – $873.1K
NOI $52,386 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$653.6K
$571.9K – $762.6K
NOI $45,753 @ 7.0% cap · market cap 3.27%
Theoretical Best
Mixed Use
$1.15M
$1.01M – $1.34M
NOI $80,621 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four identical, fully occupied townhome-style units with off-street parking and rear decks near Lehigh University.
Where is this quadplex located?
The property is located at 302 W 8TH STREET Bethlehem, PA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 4 identical townhome‑style units, each 1,958 SF, currently 100% occupied by Lehigh University students; Located across the street from Lehigh University; Each unit offers 5 bedrooms with 2 full and 1 half baths, plus common living/dining area and kitchen
