Apartment Buildings with
For Sale
$749,900
Pending
529 North 2nd Street, Allentown, PA 18102
Separate electric and gas metering is provided, with electric baseboard heat serving the lower level.
Property Size6,192 SF
Days on Market67
Property Features for 529 North 2nd Street
General Information
Standard status
Pending
Size
6,192 SF
Total Parking Spaces
6
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$6,538
Building Details
Building Size
6,192 SF
Listing Agency:
Reinvest Real Estate LLC
Listed By:
Dean F. Alk
(484) 619-8394
Source:
Bhhspaulfordrealtors
Added: Aug 12
Changed: Oct 8
Last Checked: Oct 16 at 4:03PM
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 Reinvest Real Estate LLC
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Investment Insights
Based on property information with market context.
This multifamily property includes 6,192 square feet of living space arranged across the buildings, with 12 bedrooms and 6 full baths. The improvements include 2-car garages and four additional parking spaces. Separate electric and gas meters are provided for the units, while the lower level uses electric baseboard heat.
The property is located at 529 North 2nd Street in Allentown City, near Downtown Allentown and local attractions. Its combination of residential living area, garage capacity, on-site parking, individual metering, and multiple full bathrooms provides a substantial physical configuration for multifamily ownership.
The property is located at 529 North 2nd Street in Allentown City, near Downtown Allentown and local attractions. Its combination of residential living area, garage capacity, on-site parking, individual metering, and multiple full bathrooms provides a substantial physical configuration for multifamily ownership.
Key Highlights
- 6,192 square feet of living space
- 12 bedrooms and 6 full baths
- 2‑car garages included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,132
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,142,640
$1.1M
Cap Rate 7%
$816,171
$816.2K
Cap Rate 9%
$634,800
$634.8K
Market Conditions
NOI Build-Up for 6,192 SF
Gross rent
$111.5K $18.00/SF
− Vacancy
−$7.6K −$1.22/SF
EGI
$103.9K $16.78/SF
− OpEx
−$46.7K −$7.55/SF
NOI
$57.1K $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 Rate 5%
$1,142,640
Cap Rate 7%
$816,171
Cap Rate 9%
$634,800
Alternative Uses
Best Use
Apartment 5plus
$816.2K
$714.2K – $952.2K
NOI $57,132 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.22M
$1.06M – $1.42M
NOI $85,152 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,356
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
Frequently Asked Questions
What type of property is this?
Apartment building - Separate electric and gas metering is provided, with electric baseboard heat serving the lower level.
Where is this apartment building located?
The property is located at 529 North 2nd Street Allentown, PA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 6,192 square feet of living space; 12 bedrooms and 6 full baths; 2‑car garages included
