3-Unit Investment Property with
For Sale
Contact for pricing
Pending
424 N 6th St, Allentown, PA 18102
Fully occupied three-unit property with off-street parking and utility split between tenants and landlord.
Property Size2,610 SF
Days on Market161
Property Features for 424 N 6th St
General Information
Standard status
Pending
Size
2,610 SF
Total Parking Spaces
2
Property subtype
Multifamily
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1890
Buildings
1
Stories
3
Units
3
Listing Agency:
Steel City Realty
Listed By:
Jennifer DeJesus · License #PA RM423820
(484) 895-9005
Source:
Crexi
Added: Mar 31
Changed: Aug 8
Last Checked: Jul 24 at 9:53AM
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.
This fully occupied 3-unit investment property includes off-street parking. The building is configured as three separate units, with Unit 2 paying all utilities.
According to the provided details, the landlord currently covers water, sewer, and trash for Units 1 and 3. The remarks also note a potential for increased cash flow by shifting utilities to tenants at renewal.
Offered for sale as a leased income property, the current setup provides an expense structure based on the existing utility responsibilities.
According to the provided details, the landlord currently covers water, sewer, and trash for Units 1 and 3. The remarks also note a potential for increased cash flow by shifting utilities to tenants at renewal.
Offered for sale as a leased income property, the current setup provides an expense structure based on the existing utility responsibilities.
Key Highlights
- 1890‑built, fully occupied 3‑unit investment property in Allentown, PA
- Off‑street parking included
- Unit 2 pays all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,378
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$547,560
$547.6K
Cap Rate 7%
$391,114
$391.1K
Cap Rate 9%
$304,200
$304.2K
Market Conditions
NOI Build-Up for 2,610 SF
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.
Gross rent
$42.3K $16.20/SF
− Vacancy
−$3.2K −$1.22/SF
EGI
$39.1K $14.99/SF
− OpEx
−$11.7K −$4.50/SF
NOI
$27.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$547,560
Cap Rate 7%
$391,114
Cap Rate 9%
$304,200
Alternative Uses
Best Use
Multifamily LT 5
$391.1K
$342.2K – $456.3K
NOI $27,378 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$344.0K
$301.0K – $401.4K
NOI $24,082 @ 7.0% cap · market cap 7.08%
Theoretical Best
Specialty Retail
$512.8K
$448.7K – $598.2K
NOI $35,893 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,424
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
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?
Triplex - Fully occupied three-unit property with off-street parking and utility split between tenants and landlord.
Where is this triplex located?
The property is located at 424 N 6th St Allentown, PA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1890‑built, fully occupied 3‑unit investment property in Allentown, PA; Off‑street parking included; Unit 2 pays all utilities
