Multifamily Building with
For Sale
$425,000
437 West Allen Street, Allentown, PA 18102
Remodeled income property with updated apartments, separate utilities, and a detached rear garage.
Property Size2,112 SF
Days on Market34
Property Features for 437 West Allen Street
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Apartment
Units
Unit Mix
2 x 2BR, 1 x Studio
Multifamily Units
3
Additional Details
Floor
1
Cap Rate
10%
Taxes and HOA fees
Annual Taxes
$4,629
Building Details
Building Size
2,112 SF
Year Built
1900
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
BHHS Regency Real Estate
Listed By:
Andrew A. Ginsburg
(610) 393-0892
Source:
Bhhspaulfordrealtors
Added: Sep 11
Changed: Oct 10
Last Checked: Oct 13 at 1:57AM
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 BHHS Regency Real Estate
Investment Insights
Based on property information with market context.
This multifamily property combines three updated residential apartments with a separate first-floor office or storefront. The residential layout includes two two-bedroom apartments and a studio, with remodeled interiors featuring updated kitchens, hardwood flooring, quartz countertops, and tile baths. A detached rear garage provides additional space and may offer separate rental potential.
The building was constructed in 1900 and has been remodeled with separate utilities and updated electrical service. The property is located at 437 West Allen Street in Allentown City, Pennsylvania, and is offered at a 10% CAP rate.
The building was constructed in 1900 and has been remodeled with separate utilities and updated electrical service. The property is located at 437 West Allen Street in Allentown City, Pennsylvania, and is offered at a 10% CAP rate.
Key Highlights
- Three updated apartments: two 2‑bedroom units and one studio
- Separate first‑floor office or storefront
- Detached rear garage with potential rental use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,013
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$520,260
$520.3K
Cap Rate 7%
$371,614
$371.6K
Cap Rate 9%
$289,033
$289.0K
Market Conditions
NOI Build-Up for 2,112 SF
Gross rent
$39.3K $18.60/SF
− Vacancy
−$2.1K −$1.00/SF
EGI
$37.2K $17.60/SF
− OpEx
−$11.1K −$5.28/SF
NOI
$26.0K $12.32/SF
Area
Allentown, PA
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$520,260
Cap Rate 7%
$371,614
Cap Rate 9%
$289,033
Alternative Uses
Best Use
Retail
$371.6K
$325.2K – $433.6K
NOI $26,013 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$278.4K
$243.6K – $324.8K
NOI $19,487 @ 7.0% cap · market cap 4.59%
Theoretical Best
Specialty Retail
$414.9K
$363.1K – $484.1K
NOI $29,044 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,610
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Remodeled income property with updated apartments, separate utilities, and a detached rear garage.
Where is this multifamily property located?
The property is located at 437 West Allen Street Allentown, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three updated apartments: two 2‑bedroom units and one studio; Separate first‑floor office or storefront; Detached rear garage with potential rental use
