12-Unit Garden-Style Apartment
For Sale
$2,049,000
628 S Fawn Street, Allentown, PA 18103
ResidentialIncome, Allentown City, PA
Property Size8,004 SF
Lot Size0.42 Acres
Price / SF$255
Days on Market17
Property Features for 628 S Fawn Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
R-M
Bedrooms
12
Bathrooms
12
Full bathrooms
12
Rooms
Bathroom 6, Bathroom 9, Bathroom 4, Bathroom 12, Bedroom 12, Bedroom 11, Bathroom 11, Bathroom 2, Bedroom 9, Bedroom 1, Bedroom 7, Bedroom 10, Bedroom 4, Bathroom 7, Bathroom 8, Bedroom 3, Bedroom 2, Bathroom 10, Bathroom 5, Bedroom 8, Bathroom 3, Bedroom 5, Bathroom 1, Bedroom 6
Parking
18
Parking features
On Street, Off Street
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
From Route 22, take the 7th Street exit toward Allentown and continue south on N 7th Street. Turn left onto W Union Street, then right onto S Fawn Street. Continue to 628-636 S Fawn Street.
Standard status
Active
APN
640658455190-1
Size
8,004 SF
Lot size
0.42 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
19604
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Cooling system
Window Unit(s)
Water source
Public
Amenities
coin-operated laundry
Building Details
Year built
1985
Floors in Building
3
Number of units
12
Building materials
Brick
Buildings
1
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Akinlana Popoola · License #RS379206
(610) 735-6082
Added: Oct 21
Changed: Nov 2
Last Checked: Nov 6 at 12:06PM
MLS# 786693
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.
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Investment Insights
Based on property information with market context.
Built in 1985, this brick apartment property contains 12 one-bedroom units across three floors, with 8,004 square feet on a 0.416-acre site. The building is fully occupied and zoned R-M. Individual apartments have electric baseboard heat, and tenants pay their own electric and heating costs. Coin-operated laundry is provided on-site, with two recently replaced machines.
Interior hallways have new carpeting, paint, and lighting. Most apartments have new appliances, while many have updated kitchens, cabinets, countertops, vinyl plank flooring, and paint. Window-unit cooling is also present. The property has public water and sewer, with both on-street and off-street parking.
South Allentown access includes Route 309 and I-78, as well as Lehigh Valley Hospital-Cedar Crest and St. Luke's. Regional employment centers are also accessible from the property.
Interior hallways have new carpeting, paint, and lighting. Most apartments have new appliances, while many have updated kitchens, cabinets, countertops, vinyl plank flooring, and paint. Window-unit cooling is also present. The property has public water and sewer, with both on-street and off-street parking.
South Allentown access includes Route 309 and I-78, as well as Lehigh Valley Hospital-Cedar Crest and St. Luke's. Regional employment centers are also accessible from the property.
Key Highlights
- 12 one‑bedroom apartments across three floors; 8,004 square feet
- Fully occupied; built in 1985
- 0.416‑acre site with R‑M zoning
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
Who owns this building?
See the owner, sales and loan history
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Lease Details
12
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
$242,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Allentown, PA
Properties on Market for Apartment buildings in Allentown
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents pay their own electric and heat, with coin-operated laundry available on-site.
Where is this apartment building located?
The property is located at 628 S Fawn Street 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; 8,004 square feet; Fully occupied; built in 1985; 0.416‑acre site with R‑M zoning
