Two-Unit Duplex with Updated
New
For Sale
$235,000
624 W GORDON STREET, Allentown, PA 18104
Both apartments have renovated kitchens and baths, with rear off-street parking for two cars.
Property Size1,362 SF
Price / SF$172.54
Days on Market6
Property Features for 624 W GORDON STREET
General Information
Standard status
Active
Size
1,362 SF
Total Parking Spaces
2
Property subtype
Duplex
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
all required municipal repairs to be the buyer's responsibility
Additional Details
Gross Income
$25,500
Multifamily Units
2
Tenant in Place
Yes
Building Details
Year Built
1875
Tenancy
Multi
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
Alison Simon · License #RS337542
(215) 847-4452
Source:
Cummingsrealtors
Added: Oct 28
Changed: Nov 1
Last Checked: Nov 1 at 5:33AM
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 KW Empower
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Investment Insights
Based on property information with market context.
This 1,362-square-foot duplex contains two occupied apartments, each with an updated kitchen and bathroom. Improvements include tile backsplashes and new LVP flooring. The building dates to 1875, and both units are leased on yearly terms. Current residents have indicated a desire to remain.
A rear parking pad accommodates two vehicles and is presently leased by the resident in the downstairs apartment. A municipal pre-sale inspection has been scheduled. The property is offered as-is, with any municipal repairs required assigned to the buyer.
A rear parking pad accommodates two vehicles and is presently leased by the resident in the downstairs apartment. A municipal pre-sale inspection has been scheduled. The property is offered as-is, with any municipal repairs required assigned to the buyer.
Key Highlights
- Two occupied apartments with yearly leases
- Updated kitchens and bathrooms in both units, with tile backsplashes and new LVP flooring
- Rear parking pad for two cars, currently leased by the downstairs tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,287
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,740
$285.7K
Cap Rate 7%
$204,100
$204.1K
Cap Rate 9%
$158,744
$158.7K
Market Conditions
NOI Build-Up for 1,362 SF
Gross rent
$22.1K $16.20/SF
− Vacancy
−$1.7K −$1.22/SF
EGI
$20.4K $14.99/SF
− OpEx
−$6.1K −$4.50/SF
NOI
$14.3K $10.49/SF
Area
Allentown, PA
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,740
Cap Rate 7%
$204,100
Cap Rate 9%
$158,744
Alternative Uses
Best Use
Multifamily LT 5
$204.1K
$178.6K – $238.1K
NOI $14,287 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$179.5K
$157.1K – $209.5K
NOI $12,567 @ 7.0% cap · market cap 5.35%
Theoretical Best
Specialty Retail
$267.6K
$234.1K – $312.2K
NOI $18,730 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,424
Businesses Nearby
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Business Placement
Demographics for 18104, PA
47,289
Population
18,686
Households
2.5
Avg Household Size
42
Median Age
45%
College-Educated
93%
High-School Grad
23.0 sq mi
ZIP Area
2,056
Density / Sq Mi
$94,279
Median Household Income
$48,585
Median Earnings
$1,620
Median Rent
$296,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments have renovated kitchens and baths, with rear off-street parking for two cars.
Where is this duplex located?
The property is located at 624 W GORDON STREET Allentown, PA.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two occupied apartments with yearly leases; Updated kitchens and bathrooms in both units, with tile backsplashes and new LVP flooring; Rear parking pad for two cars, currently leased by the downstairs tenant
