7-Unit Apartment
New
For Sale
$899,000
702 Saint John Street, Allentown, PA 18103
Updated multifamily property with varied unit layouts and tenant-paid utilities, including gas heat.
Property Size7,524 SF
Days on Market7
Property Features for 702 Saint John Street
General Information
Standard status
Active
Size
7,524 SF
Property subtype
Apartment
Units
Unit Mix
2 x 3BR/1BA, 3 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
7
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$9,550
Building Details
Building Size
7,524 SF
Year Built
1928
Listing Agency:
Keller Williams Allentown
Listed By:
Sarah Sadler
(610) 435-1800
Source:
Bhhspaulfordrealtors
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 19 at 11:11AM
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 Keller Williams Allentown
Investment Insights
Based on property information with market context.
This 7-unit apartment building at 702 Saint John St comprises 7,524 square feet and offers a mix of residential layouts: two three-bedroom, one-bath units; three two-bedroom, one-bath units; and two one-bedroom, one-bath units. Recent improvements include new flooring and fresh paint. Each tenant pays their own utilities, including gas heat. The property is being sold as-is.
The building is near downtown Allentown, major highways, and area parks. The buyer is responsible for obtaining a clear Certificate of Occupancy from the City of Allentown.
The building is near downtown Allentown, major highways, and area parks. The buyer is responsible for obtaining a clear Certificate of Occupancy from the City of Allentown.
Key Highlights
- 7,524‑square‑foot apartment building with 7 units
- Unit mix includes two 3‑bedroom, 1‑bath units, three 2‑bedroom, 1‑bath units, and two 1‑bedroom, 1‑bath units
- Recent flooring and fresh paint updates
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,422
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,388,440
$1.4M
Cap Rate 7%
$991,743
$991.7K
Cap Rate 9%
$771,356
$771.4K
Market Conditions
NOI Build-Up for 7,524 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$135.4K $18.00/SF
− Vacancy
−$9.2K −$1.22/SF
EGI
$126.2K $16.78/SF
− OpEx
−$56.8K −$7.55/SF
NOI
$69.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,388,440
Cap Rate 7%
$991,743
Cap Rate 9%
$771,356
Alternative Uses
Best Use
Apartment 5plus
$991.7K
$867.8K – $1.16M
NOI $69,422 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.48M
$1.29M – $1.72M
NOI $103,470 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
747
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
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated multifamily property with varied unit layouts and tenant-paid utilities, including gas heat.
Where is this apartment building located?
The property is located at 702 Saint John Street Allentown, PA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 7,524‑square‑foot apartment building with 7 units; Unit mix includes two 3‑bedroom, 1‑bath units, three 2‑bedroom, 1‑bath units, and two 1‑bedroom, 1‑bath units; Recent flooring and fresh paint updates
