12-Unit Apartment
For Sale
$1,500,000
Pending
439 W Walnut St, Allentown, PA 18102
On-site parking and laundry support convenient residential operations.
Property Size8,348 SF
Days on Market16
Property Features for 439 W Walnut St
General Information
Standard status
Pending
Size
8,348 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$21,062
Amenities
on-site laundry
Listing Agency:
Light House Realty LV LLC
(484) 279-0084
Listed By:
Justin G. Brown
Source:
Exprealty
Added: Jul 28
Changed: Aug 11
Last Checked: Aug 11 at 6:11AM
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 Light House Realty LV LLC
Investment Insights
Based on property information with market context.
Located at 439 W Walnut St in Allentown, this 12-unit apartment building contains 8,348 square feet of residential space. The property includes on-site parking and laundry facilities, along with apartment interiors featuring high ceilings and ample living areas.
Its Allentown setting places residents near local amenities and downtown development. The combination of multiple residential units and on-site features provides a straightforward multifamily configuration at a central city address.
Its Allentown setting places residents near local amenities and downtown development. The combination of multiple residential units and on-site features provides a straightforward multifamily configuration at a central city address.
Key Highlights
- 12‑unit apartment building
- 8,348 SF of residential space
- On‑site parking included
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
$77,025
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
5.14%
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%
$1,540,500
$1.5M
Cap Rate 7%
$1,100,357
$1.1M
Cap Rate 9%
$855,833
$855.8K
Market Conditions
NOI Build-Up for 8,348 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
$150.3K $18.00/SF
− Vacancy
−$10.2K −$1.22/SF
EGI
$140.0K $16.78/SF
− OpEx
−$63.0K −$7.55/SF
NOI
$77.0K $9.23/SF
Area
Allentown, PA
Vacancy
6.80%
Lease Rate
$18.00 /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%
$1,540,500
Cap Rate 7%
$1,100,357
Cap Rate 9%
$855,833
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$962.8K – $1.28M
NOI $77,025 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.64M
$1.44M – $1.91M
NOI $114,802 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,588
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
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 - On-site parking and laundry support convenient residential operations.
Where is this apartment building located?
The property is located at 439 W Walnut St Allentown, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 12‑unit apartment building; 8,348 SF of residential space; On‑site parking included
