8-Unit Apartment Building with
435 West Main Street Pen Argyl, PA 18072
For Sale
Contact for pricing
Well-maintained 8-unit multifamily with garages and storage units, plus recent major system upgrades.
Property Size11,586 SF
Price / SF$151.04
Days on Market61
Property Features for 435 West Main Street
General Information
- Standard status
- Active
- Size
- 11,586 SF
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 1900
Listing Agency:
Century 21 KEIM REALTORS Allentown
Listed By:
Loren Keim · License #PA
Source:
Crexi
Added: May 27
Changed: Jul 10
Last Checked: Jul 26 at 9:48AM
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 Century 21 KEIM REALTORS Allentown
Investment Insights
Based on property information with market context.
This for-sale multifamily property features eight apartments, each with two bedrooms and one bathroom. The building includes 6 garages and 10 storage units, supplementing rental income opportunities. Several units offer hardwood flooring in the living rooms and bedrooms, and many have been remodeled with updated finishes. Additional on-site convenience includes a large basement storage area.
Located at 435 West Main Street in Pen Argyl, the property is described as being near shopping, schools, and major commuter routes within the Slate Belt region. The current configuration also includes owner-paid heat and hot water, which can support resident budgeting and simplify monthly utility responsibilities.
Recent capital improvements include a new heating system, a new sump pump, and a new hot water heater. The combination of updated interiors, functional common and basement storage, and added non-residential income from garages and storage units makes the property a practical fit for investors seeking an established residential income building with multiple revenue streams and reduced near-term maintenance items.
Located at 435 West Main Street in Pen Argyl, the property is described as being near shopping, schools, and major commuter routes within the Slate Belt region. The current configuration also includes owner-paid heat and hot water, which can support resident budgeting and simplify monthly utility responsibilities.
Recent capital improvements include a new heating system, a new sump pump, and a new hot water heater. The combination of updated interiors, functional common and basement storage, and added non-residential income from garages and storage units makes the property a practical fit for investors seeking an established residential income building with multiple revenue streams and reduced near-term maintenance items.
Key Highlights
- 8‑unit apartment building built in 1900 with eight 2‑bedroom, 1‑bath apartments
- Gross annual income of $172,620 and net operating income of $145,509; listed 8% cap rate
- Owner pays heat and hot water for tenants
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 | $139.0k | $12.00 |
| − Vacancy | −$10.8k | −$0.94 |
| EGI | $128.2k | $11.06 |
| − OpEx | −$57.7k | −$4.98 |
| NOI | $70.5k | $6.09 |
11,586 SF · lease $12.00/SF/yr · vacancy 7.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$881.3K – $1.18M
NOI $70,503 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.92M – $2.56M
NOI $153,825 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Well-maintained 8-unit multifamily with garages and storage units, plus recent major system upgrades.
Where is this apartment building located?
The property is located at 435 West Main Street Pen Argyl, PA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 8‑unit apartment building built in 1900 with eight 2‑bedroom, 1‑bath apartments; Gross annual income of $172,620 and net operating income of $145,509; listed 8% cap rate; Owner pays heat and hot water for tenants
