322 RIDGE Avenue Allentown, PA 18102
MULTI_FAMILY - ALLENTOWN, PA
- Added:
- Jul 6, 2026
- Days on Market:
- 6
- Last Refresh:
- Jul 11 at 12:06 am
Property Features for 322 RIDGE Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 2
- Parking features
- On Street, Garage - Detached
- Standard status
- Active
- Size
- 3,978 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6001
Utilities
- Heating system
- Forced Air
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1863
- Number of units
- 3
- Building materials
- Stucco
Listing agent AYON Abraham CODNER License #RS324477 (610) 435-1800
Listing office Keller Williams Real Estate - Allentown 1605 N Cedar Crest Boulevard unit: 309, Allentown, PA (610) 435-1800
Listing date Jul 6, 2026
Copyright © 2026 Bright MLS. 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.
Located at 322 Ridge Avenue in Allentown, PA, the property sits in a residential area on Ridge Avenue. It is described as being about three blocks from the newly constructed Jaindl Enterprise Waterfront mixed-use Class A building. The area is also referenced alongside Allentown’s Vision 2030 Initiative, which includes plans for neighborhood revitalization.
For buyers or operators seeking a multi-unit asset, the current configuration provides established upper-floor occupancy, while the approved plans offer a clear path to expand the residential unit count within the structure. This makes the property most relevant for investors or owner-occupants evaluating both existing rental income and the feasibility of converting the retail space to an additional apartment under the approved scope.
Key Highlights
- Three‑unit investment property in Allentown, PA
- Second and third floors are occupied by long‑term tenants
- Approved plans to create a third three‑bedroom apartment in the retail space
Local Financial Insights For Apartment 5plus
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 | $71.6k | $18.00 |
| − Vacancy | −$4.9k | −$1.22 |
| EGI | $66.7k | $16.78 |
| − OpEx | −$30.0k | −$7.55 |
| NOI | $36.7k | $9.23 |
