Fully Occupied Four-Unit
For Sale
Contact for pricing
123 main st, Easton, PA 18015
Four-unit building with immediate income and rent growth potential.
Property Size3,089 SF
Price / SF$226.29
Days on Market171
Property Features for 123 main st
General Information
Standard status
Active
Size
3,089 SF
Class
A
Property subtype
Multifamily
Zoning
C
Building Details
Year Built
1900
Listing Agency:
eXp Commercial
(888) 397-7352
Listed By:
James Reardon · License #PA RS337438
Source:
Crexi
Added: Feb 24
Changed: Aug 8
Last Checked: Aug 2 at 3:35PM
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 eXp Commercial
Investment Insights
Based on property information with market context.
This fully occupied four-unit building generates $68,400 in gross income and $56,881 in net income. The property features a unit mix of three 2-bedroom apartments and one 3-bedroom apartment. All units are currently leased, providing immediate and stable cash flow. The apartments are large in size. Rents present clear upside potential. Tenants are responsible for their utilities, while landlord expenses are limited to taxes, insurance, and water/sewer/trash. A new fire escape has recently been installed. Additional income potential is supported by a large two-car garage. The property is situated in an exceptional location near major employers and healthcare institutions, including St. Luke’s Hospital. The property size is 3089 square feet. This asset is suited for investors seeking predictable cash flow with upside in a high-demand rental corridor.
Key Highlights
- Fully occupied four‑unit property generating $68,400 gross income and $56,881 net income, providing immediate and stable cash flow.
- Exceptional location near major employers and healthcare institutions, including St. Luke’s Hospital, ensuring high tenant demand and occupancy stability.
- Strong unit mix: three 2‑bedroom apartments and one 3‑bedroom apartment, supported by consistent rental demand.
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
$20,421
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
2.92%
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%
$408,420
$408.4K
Cap Rate 7%
$291,729
$291.7K
Cap Rate 9%
$226,900
$226.9K
Market Conditions
NOI Build-Up for 3,089 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
$31.5K $10.20/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$29.2K $9.44/SF
− OpEx
−$8.8K −$2.83/SF
NOI
$20.4K $6.61/SF
Area
Northampton County, PA
Vacancy
7.41%
Lease Rate
$10.20 /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%
$408,420
Cap Rate 7%
$291,729
Cap Rate 9%
$226,900
Alternative Uses
Best Use
Multifamily LT 5
$291.7K
$255.3K – $340.4K
NOI $20,421 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$268.5K
$235.0K – $313.3K
NOI $18,797 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$585.9K
$512.7K – $683.5K
NOI $41,012 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
985
Businesses Nearby
Explore this area
Business Placement
Demographics for 18015, PA
33,286
Population
12,867
Households
2.6
Avg Household Size
32
Median Age
31%
College-Educated
87%
High-School Grad
23.2 sq mi
ZIP Area
1,435
Density / Sq Mi
$58,470
Median Household Income
$32,703
Median Earnings
$1,310
Median Rent
$243,100
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?
Quadplex - Four-unit building with immediate income and rent growth potential.
Where is this quadplex located?
The property is located at 123 main st Easton, PA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Fully occupied four‑unit property generating $68,400 gross income and $56,881 net income, providing immediate and stable cash flow.; Exceptional location near major employers and healthcare institutions, including St. Luke’s Hospital, ensuring high tenant demand and occupancy stability.; Strong unit mix: three 2‑bedroom apartments and one 3‑bedroom apartment, supported by consistent rental demand.
