Fully Approved 39-Unit Apartment
New
For Sale
$1,390,000
3948 PORTLAND STREET, Coplay, PA 18037
Shovel-ready multifamily development with final approvals, permits, and a builder in place.
Property Size9,873 SF
Price / SF$140.79
Days on Market4
Property Features for 3948 PORTLAND STREET
General Information
Standard status
Active
Size
9,873 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Land
Land Use
multifamily
Entitled
Yes
Buildable Units
39
Additional Details
Multifamily Units
39
Listing Agency:
Steel City Realty
(610) 217-6330
Listed By:
Jennifer de Jesus
(610) 217-6330
Source:
Cummingsrealtors
Added: Jul 28
Changed: Jul 31
Last Checked: Jul 31 at 3:43PM
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 Steel City Realty
Investment Insights
Based on property information with market context.
Fully approved, to-be-built 39-unit multifamily development at 3948 Portland Street in Coplay, Pennsylvania. Final approvals are in place, a builder is in place, and the mylar is ready to be recorded. The project is positioned as shovel-ready, with an approved NPDES permit and completed Act 2 environmental clearance. A demolition permit can be pulled immediately, supporting a direct path toward site preparation and construction.
The development is located in North Whitehall Township within the Lehigh Valley growth corridor, with convenient access to Route 22, Route 309, and I-78. PP&L has agreed to relocate the power lines at no cost to the project. The site is also positioned near the new Eli Lilly manufacturing campus in Upper Macungie Township, which is expected to bring approximately 850 permanent jobs and thousands of construction jobs to the region.
The development is located in North Whitehall Township within the Lehigh Valley growth corridor, with convenient access to Route 22, Route 309, and I-78. PP&L has agreed to relocate the power lines at no cost to the project. The site is also positioned near the new Eli Lilly manufacturing campus in Upper Macungie Township, which is expected to bring approximately 850 permanent jobs and thousands of construction jobs to the region.
Key Highlights
- Fully approved 39‑unit multifamily development
- Final approvals are in place; mylar is ready to be recorded
- Approved NPDES permit and completed Act 2 environmental clearance
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 | $113.7k | $11.52 |
| − Vacancy | −$8.9k | −$0.90 |
| EGI | $104.9k | $10.62 |
| − OpEx | −$47.2k | −$4.78 |
| NOI | $57.7k | $5.84 |
9,873 SF · lease $11.52/SF/yr · vacancy 7.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$823.9K
$721.0K – $961.3K
NOI $57,676 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$1.45M
$1.27M – $1.69M
NOI $101,630 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
39
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Explore this area
Business Placement
Demographics for 18037, PA
7,444
Population
3,263
Households
2.3
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
7.6 sq mi
ZIP Area
979
Density / Sq Mi
$82,710
Median Household Income
$54,589
Median Earnings
$1,152
Median Rent
$240,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Shovel-ready multifamily development with final approvals, permits, and a builder in place.
Where is this apartment building located?
The property is located at 3948 PORTLAND STREET Coplay, PA.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Fully approved 39‑unit multifamily development; Final approvals are in place; mylar is ready to be recorded; Approved NPDES permit and completed Act 2 environmental clearance
