8-Unit Apartment
For Sale
$1,599,000
435 W Main Street, Pen Argyl, PA 18072
CommercialSale, Pen Argyl Boro, PA
Property Size11,586 SF
Lot Size0.16 Acres
Price / SF$138.01
Days on Market87
Property Features for 435 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Apartment
Zoning
R-7-8-MEDIUM DENSITY RESI
Parking features
Off Street, Garage
Elementary school district
Pen Argyl
Middle school district
Pen Argyl
High school district
Pen Argyl
Directions
Rt 512 North to Pen Argyl. Right on C street to Main
Subdivision
Pen Argyl
Standard status
Active
APN
E8NE3A 2 4 0625
Size
11,586 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
8601
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
basement storage area
Building Details
Year built
1900
Number of units
8
Listing Agency:
CENTURY 21 Keim Realtors · Century 21 Real Estate
(610) 395-0393
Listed By:
Ira R Gordon
(610) 392-7675
Added: May 27
Changed: Aug 19
Last Checked: Aug 21 at 6:06PM
MLS# 777569
Copyright © 2026 Greater Lehigh Valley REALTORS. 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.
This 8-unit multifamily property contains eight two-bedroom, one-bath apartments within an 11,586-square-foot building on 0.16 acres. Several residences feature hardwood floors, while many have received remodeling with updated finishes. The property also includes six garages, 10 storage units, and a substantial basement storage area. Heating is provided by natural gas, cooling is available through window units, and the owner currently pays for heat and hot water.
Recent capital work includes a new heating system, sump pump, and hot water heater. Off-street and garage parking are provided, with public water and public sewer serving the property. Zoned R-7-8-MEDIUM DENSITY RESI, the building was constructed in 1900 and is located near shopping, schools, and major commuter routes in Pen Argyl Boro. The property carries an 8% cap rate.
Recent capital work includes a new heating system, sump pump, and hot water heater. Off-street and garage parking are provided, with public water and public sewer serving the property. Zoned R-7-8-MEDIUM DENSITY RESI, the building was constructed in 1900 and is located near shopping, schools, and major commuter routes in Pen Argyl Boro. The property carries an 8% cap rate.
Key Highlights
- Eight 2‑bedroom, 1‑bath apartments in an 11,586‑square‑foot building
- Six garages plus 10 storage units and a large basement storage area
- Many apartments remodeled with updated finishes; several include hardwood flooring
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
$70,503
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
4.41%
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%
$1,410,060
$1.4M
Cap Rate 7%
$1,007,186
$1.0M
Cap Rate 9%
$783,367
$783.4K
Market Conditions
NOI Build-Up for 11,586 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
$139.0K $12.00/SF
− Vacancy
−$10.8K −$0.94/SF
EGI
$128.2K $11.06/SF
− OpEx
−$57.7K −$4.98/SF
NOI
$70.5K $6.09/SF
Area
Northampton County, PA
Vacancy
7.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,410,060
Cap Rate 7%
$1,007,186
Cap Rate 9%
$783,367
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$881.3K – $1.18M
NOI $70,503 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.92M – $2.56M
NOI $153,825 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 18072, PA
6,734
Population
2,779
Households
2.4
Avg Household Size
43
Median Age
23%
College-Educated
87%
High-School Grad
14.9 sq mi
ZIP Area
452
Density / Sq Mi
$79,067
Median Household Income
$41,056
Median Earnings
$1,525
Median Rent
$244,100
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?
Apartment building - Multifamily property with garages, storage units, updated apartments, and public utilities in Pen Argyl Boro.
Where is this apartment building located?
The property is located at 435 W Main Street Pen Argyl, PA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Eight 2‑bedroom, 1‑bath apartments in an 11,586‑square‑foot building; Six garages plus 10 storage units and a large basement storage area; Many apartments remodeled with updated finishes; several include hardwood flooring
