Triplex with Varied Unit
For Sale
$349,900
Pending
315 2ND STREET, Catasauqua, PA 18032
Three apartments have separate utilities paid by tenants, and all are leased month to month.
Property Size3,058 SF
Days on Market33
Property Features for 315 2ND STREET
General Information
Standard status
Pending
Size
3,058 SF
Property subtype
Triplex
Units
Unit Mix
1 x 1BR, 1 x 2BR, 1 x 3BR
Multifamily Units
3
Building Details
Year Built
1880
Listing Agency:
Iron Valley Real Estate of Berks
(484) 450-8771
Listed By:
Christopher J Posch · License #RS381247
(484) 635-0798
Source:
Cummingsrealtors
Added: Sep 28
Changed: Oct 29
Last Checked: Oct 30 at 5:04PM
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 Iron Valley Real Estate of Berks
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Investment Insights
Based on property information with market context.
This 3,058-square-foot triplex, built in 1880, contains three apartments: one with 1 bedroom, one with 2 bedrooms, and one with 3 bedrooms. Tenants pay their own utilities, and each lease is month to month. Improvements include vinyl siding, a newer roof, and updated water heaters.
The third-floor attic could be expanded to add a room to the 3-bedroom apartment. The property is in Catasauqua Area School District.
The third-floor attic could be expanded to add a room to the 3-bedroom apartment. The property is in Catasauqua Area School District.
Key Highlights
- Three apartments: one 1‑bedroom, one 2‑bedroom, and one 3‑bedroom unit
- 3,058 square feet; built in 1880
- All tenants have month‑to‑month leases and pay separate utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,454
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,080
$409.1K
Cap Rate 7%
$292,200
$292.2K
Cap Rate 9%
$227,267
$227.3K
Market Conditions
NOI Build-Up for 3,058 SF
Gross rent
$31.6K $10.32/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$29.2K $9.56/SF
− OpEx
−$8.8K −$2.87/SF
NOI
$20.5K $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 Rate 5%
$409,080
Cap Rate 7%
$292,200
Cap Rate 9%
$227,267
Alternative Uses
Best Use
Multifamily LT 5
$292.2K
$255.7K – $340.9K
NOI $20,454 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$255.2K
$223.3K – $297.7K
NOI $17,864 @ 7.0% cap · market cap 5.11%
Theoretical Best
Mixed Use
$449.7K
$393.5K – $524.6K
NOI $31,478 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
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Business Placement
Demographics for 18032, PA
9,489
Population
4,142
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
94%
High-School Grad
2.0 sq mi
ZIP Area
4,745
Density / Sq Mi
$79,700
Median Household Income
$47,066
Median Earnings
$1,078
Median Rent
$213,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments have separate utilities paid by tenants, and all are leased month to month.
Where is this triplex located?
The property is located at 315 2ND STREET Catasauqua, PA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Three apartments: one 1‑bedroom, one 2‑bedroom, and one 3‑bedroom unit; 3,058 square feet; built in 1880; All tenants have month‑to‑month leases and pay separate utilities
