Renovated Four-Unit
For Sale
$699,900
Pending
349 Hanover Avenue, Allentown, PA 18109
Four private-entry apartments with updated interiors, in-unit laundry, mini-split systems, and rear off-street parking.
Property Size3,976 SF
Days on Market68
Property Features for 349 Hanover Avenue
General Information
Standard status
Pending
Size
3,976 SF
Property subtype
Apartment
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,478
Amenities
hardwood flooring
recessed lighting
updated kitchens
updated bathrooms
newer appliances
dishwasher
in-unit laundry
energy-efficient mini-split systems
private entrance
Building Details
Building Size
3,976 SF
Year Built
1900
Year Renovated
2023
Listing Agency:
Coldwell Banker Hearthside
Listed By:
Nick Smith
(610) 465-5600
Source:
Bhhspaulfordrealtors
Added: Aug 9
Changed: Oct 9
Last Checked: Oct 13 at 2:56AM
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 Coldwell Banker Hearthside
Investment Insights
Based on property information with market context.
This four-unit residential income property was rebuilt from the studs in late 2023, with completed improvements to electrical, plumbing, drywall, and windows. The apartments include hardwood flooring, recessed lighting, refreshed kitchens and bathrooms, newer appliances, dishwashers, in-unit laundry, and energy-efficient mini-split systems for heating and cooling. Each unit has a separate private entrance rather than access through a shared interior corridor.
The property at 349 Hanover Ave in Allentown, PA, includes a rear parking lot with off-street parking for all four apartments. Unit 3 is currently vacant and contains one bedroom and two bathrooms. Tenants are responsible for their own utilities, and all required city permits for the renovation work have been completed and closed.
The property at 349 Hanover Ave in Allentown, PA, includes a rear parking lot with off-street parking for all four apartments. Unit 3 is currently vacant and contains one bedroom and two bathrooms. Tenants are responsible for their own utilities, and all required city permits for the renovation work have been completed and closed.
Key Highlights
- Four‑unit property rebuilt from the studs in late 2023
- 3,976‑square‑foot property at 349 Hanover Ave, Allentown, PA
- Each apartment has a private entrance with no shared interior hallways
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,706
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$834,120
$834.1K
Cap Rate 7%
$595,800
$595.8K
Cap Rate 9%
$463,400
$463.4K
Market Conditions
NOI Build-Up for 3,976 SF
Gross rent
$64.4K $16.20/SF
− Vacancy
−$4.8K −$1.22/SF
EGI
$59.6K $14.99/SF
− OpEx
−$17.9K −$4.50/SF
NOI
$41.7K $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%
$834,120
Cap Rate 7%
$595,800
Cap Rate 9%
$463,400
Alternative Uses
Best Use
Multifamily LT 5
$595.8K
$521.3K – $695.1K
NOI $41,706 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$524.1K
$458.6K – $611.4K
NOI $36,686 @ 7.0% cap · market cap 5.24%
Theoretical Best
Specialty Retail
$781.1K
$683.5K – $911.3K
NOI $54,678 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Explore this area
Business Placement
Demographics for 18109, PA
18,915
Population
7,395
Households
2.6
Avg Household Size
37
Median Age
19%
College-Educated
80%
High-School Grad
8.2 sq mi
ZIP Area
2,307
Density / Sq Mi
$55,437
Median Household Income
$36,632
Median Earnings
$1,239
Median Rent
$180,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four private-entry apartments with updated interiors, in-unit laundry, mini-split systems, and rear off-street parking.
Where is this quadplex located?
The property is located at 349 Hanover Avenue Allentown, PA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Four‑unit property rebuilt from the studs in late 2023; 3,976‑square‑foot property at 349 Hanover Ave, Allentown, PA; Each apartment has a private entrance with no shared interior hallways
