7-Unit Apartment
New
For Sale
$899,000
702 Saint John Street, Allentown, PA 18103
ResidentialIncome, Allentown City, PA
Property Size7,524 SF
Lot Size0.08 Acres
Price / SF$119.48
Days on Market2
Property Features for 702 Saint John Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
R-MH
Bedrooms
12
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 8, Bathroom 2, Bedroom 10, Bathroom 4, Bathroom 6, Bedroom 2, Bedroom 3, Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 12, Bedroom 9, Bedroom 6, Bedroom 7, Bedroom 1, Bedroom 4, Bedroom 11, Bathroom 5, Bathroom 7
Parking features
On Street
Subdivision
Mount Pleasant
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
From American Parkway, right onto Auburn St , left onto 6th St, right onto St John.
Standard status
Active
APN
640626569864-1
Size
7,524 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
9550
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1928
Floors in Building
3
Number of units
7
Building materials
AluminumSiding
Listing Agency:
Keller Williams Allentown · Keller Williams Realty
Listed By:
Sarah Sadler
(610) 435-1800
Added: Sep 14
Last Checked: Sep 15 at 11:06PM
MLS# 784327
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.
Investment Insights
Based on property information with market context.
This 7,524-square-foot apartment property contains seven units: two three-bedroom homes, three two-bedroom homes, and two one-bedroom homes, with one bathroom in each unit. Flooring improvements and fresh paint provide recent interior updates. The building dates to 1928 and has aluminum siding, natural-gas heating, window-unit cooling, and on-street parking.
Located in Allentown City near downtown, major highways, and area parks, the property is served by public water and public sewer. Tenants pay their own utilities, including gas heat. The property is offered as-is, and the buyer is responsible for obtaining a clear Certificate of Occupancy from the City of Allentown. Zoning is R-MH.
Located in Allentown City near downtown, major highways, and area parks, the property is served by public water and public sewer. Tenants pay their own utilities, including gas heat. The property is offered as-is, and the buyer is responsible for obtaining a clear Certificate of Occupancy from the City of Allentown. Zoning is R-MH.
Key Highlights
- 7,524‑square‑foot apartment property with 7 units
- Unit mix includes two 3‑bedroom, three 2‑bedroom, and two 1‑bedroom units
- Each apartment includes 1 bathroom
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
Highway access
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 interiors, individual utility responsibility, and public services support straightforward multifamily operations.
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 property with 7 units; Unit mix includes two 3‑bedroom, three 2‑bedroom, and two 1‑bedroom units; Each apartment includes 1 bathroom
