Renovated Mixed-Use Property For
438 N 7th Street Allentown, PA 18102
For Sale
$480,000
MULTI_FAMILY - Allentown City, PA
Property Size2,878 SF
Lot Size0.11 Acres
Price / SF$166.78
Days on Market355
Property Features for 438 N 7th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- B1/R
- Parking
- 3
- Standard status
- Active
- APN
- 549792978241 1
- Size
- 2,878 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2991
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard
- Cooling system
- Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1843
- Floors in Building
- 3
- Number of units
- 3
- Building materials
- Brick
Listing Agency:
Keller Williams Allentown
(610) 435-1800
Listed By:
Ayon A. Codner · License #RS324477
(610) 435-1800
Added: Aug 7, 2025
Changed: May 8
Last Checked: Jul 27 at 4:06AM
MLS# 762577
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 mixed-use property presents an investment or owner-user opportunity. Renovated in 2020, the building features updated electrical and plumbing systems. It includes two residential units and one ground-level retail/commercial space. Unit 1 offers approximately 800 square feet of commercial/retail space, featuring a private restroom, kitchenette, and storage. Unit 2 is a one-bedroom studio apartment. Unit 3 is a two-bedroom apartment with separate living and dining rooms, currently tenant-occupied with approximately four months remaining on the lease. The property has rear parking and approved plans for an ADA ramp to the commercial space. The retail unit and select portions of the property still require finishing touches. The seller is open to completing the remaining work or offering the property as-is at a more favorable price. The property is located in Allentown City, PA. The lot size is 0.107 acres, and the property size is 2878 square feet. The zoning is B1/R.
Key Highlights
- Value‑add mixed‑use property with two residential units and one commercial unit.
- Renovated in 2020 with updated electrical and plumbing systems.
- Commercial/retail space (approx. 800 SF) with private restroom, kitchenette, and storage.
Financial Insights For Retail
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 | $53.5k | $18.60 |
| − Vacancy | −$2.9k | −$1.00 |
| EGI | $50.6k | $17.60 |
| − OpEx | −$15.2k | −$5.28 |
| NOI | $35.4k | $12.32 |
2,878 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$506.4K
$443.1K – $590.8K
NOI $35,448 @ 7.0% cap · market cap 7.39%
Second Best
Mixed Use
$401.5K
$351.3K – $468.4K
NOI $28,104 @ 7.0% cap · market cap 5.85%
Theoretical Best
Specialty Retail
$565.4K
$494.7K – $659.6K
NOI $39,578 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with retail space and residential units.
Where is this mixed-use property located?
The property is located at 438 N 7th Street Allentown, PA.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Value‑add mixed‑use property with two residential units and one commercial unit.; Renovated in 2020 with updated electrical and plumbing systems.; Commercial/retail space (approx. 800 SF) with private restroom, kitchenette, and storage.
