12-Unit Garden-Style Apartment
New
For Sale
$2,049,000
628 S Fawn St, Allentown, PA 18103
Three-story residential property combines a consistent one-bedroom layout with on-site coin-operated laundry and tenant-paid electric heat.
Property Size8,004 SF
Price / SF$255
Days on Market5
Property Features for 628 S Fawn St
General Information
Standard status
Active
Size
8,004 SF
Property subtype
Residential Income
Occupancy
100%
Net Operating Income
$159,742
Units
Unit Mix
12 x 1BR
Multifamily Units
12
Additional Details
Gross Income
$206,040
Highway Access
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$19,603
Amenities
coin-operated laundry
Building Details
Year Built
1985
Buildings
1
Stories
3
Construction
garden-style
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Akinlana Popoola · License #RS379206
(216) 820-1637
Source:
Exprealty
Added: Oct 21
Changed: Oct 25
Last Checked: Oct 24 at 4:31PM
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 EXP Realty LLC
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Investment Insights
Based on property information with market context.
This 12-unit garden-style apartment building was constructed in 1985 and contains twelve one-bedroom apartments across three floors. Recent work includes refreshed carpeting, paint, and lighting in the interior hallways. Most apartments have newer appliances, and several have updated kitchens, cabinetry, countertops, vinyl plank flooring, and paint. Each apartment has separate electric baseboard heat, and tenants pay their own electric and heating costs. Coin-operated laundry is available on site, with two recently replaced machines.
The property is at 628 South Fawn Street in South Allentown, with access to Route 309 and I-78. Lehigh Valley Hospital-Cedar Crest, St. Luke's, and regional employment centers are also identified as nearby destinations. The building is fully occupied.
The property is at 628 South Fawn Street in South Allentown, with access to Route 309 and I-78. Lehigh Valley Hospital-Cedar Crest, St. Luke's, and regional employment centers are also identified as nearby destinations. The building is fully occupied.
Key Highlights
- 12 one‑bedroom apartments across three floors
- Built in 1985
- Fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,851
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,477,020
$1.5M
Cap Rate 7%
$1,055,014
$1.1M
Cap Rate 9%
$820,567
$820.6K
Market Conditions
NOI Build-Up for 8,004 SF
Gross rent
$144.1K $18.00/SF
− Vacancy
−$9.8K −$1.22/SF
EGI
$134.3K $16.78/SF
− OpEx
−$60.4K −$7.55/SF
NOI
$73.9K $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%
$1,477,020
Cap Rate 7%
$1,055,014
Cap Rate 9%
$820,567
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$923.1K – $1.23M
NOI $73,851 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.57M
$1.38M – $1.83M
NOI $110,071 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
12
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Explore this area
Business Placement
Demographics for 18103, PA
48,358
Population
19,769
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
17.2 sq mi
ZIP Area
2,812
Density / Sq Mi
$72,545
Median Household Income
$38,377
Median Earnings
$1,333
Median Rent
$242,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story residential property combines a consistent one-bedroom layout with on-site coin-operated laundry and tenant-paid electric heat.
Where is this apartment building located?
The property is located at 628 S Fawn St Allentown, PA.
What is the asking price?
The asking price for this property is $2,049,000.
What are key features of this property?
This property features: 12 one‑bedroom apartments across three floors; Built in 1985; Fully occupied
