12-Unit Garden-Style Apartment
New
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 Market2
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 10, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 5, Bedroom 12, Bedroom 4, Bathroom 6, Bathroom 7, Bedroom 3, Bathroom 2, Bedroom 10, Bathroom 9, Bathroom 1, Bedroom 6, Bathroom 11, Bathroom 12, Bedroom 2, Bathroom 5, Bedroom 7, Bedroom 11, Bedroom 8, Bathroom 8, Bedroom 9
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
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
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Akinlana Popoola
(610) 735-6082
Added: Oct 21
Last Checked: Oct 22 at 7:06PM
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.
This 12-unit garden-style apartment property was built in 1985 and spans three floors, with one-bedroom apartments throughout. Interior corridors have updated carpeting, paint, and lighting. Most residences include newer appliances, and many have refreshed kitchens, countertops, cabinetry, vinyl plank flooring, and paint. Each apartment has separate electric baseboard heat, while tenants pay their own electric and heating costs. On-site coin-operated laundry includes two recently replaced machines.
The property occupies 0.416 acres in South Allentown and is zoned R-M. Route 309 and I-78 provide regional access; Lehigh Valley Hospital-Cedar Crest and St. Luke's are among the nearby destinations. Public water and sewer serve the property, which has brick construction and a mix of on-street and off-street parking.
The property occupies 0.416 acres in South Allentown and is zoned R-M. Route 309 and I-78 provide regional access; Lehigh Valley Hospital-Cedar Crest and St. Luke's are among the nearby destinations. Public water and sewer serve the property, which has brick construction and a mix of on-street and off-street parking.
Key Highlights
- 12 one‑bedroom apartments across three floors; built in 1985
- Fully occupied; 8,004 square feet on a 0.416‑acre site
- R‑M zoning; brick construction
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
Open Analytics
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
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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 - Fully occupied apartments feature individual electric baseboard heat and coin-operated laundry.
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; built in 1985; Fully occupied; 8,004 square feet on a 0.416‑acre site; R‑M zoning; brick construction
