Six-Unit Brick Apartment
For Sale
$875,000
735 737 Laufer Street, Bethlehem, PA 18015
MULTI_FAMILY - Bethlehem City, PA
Property Size5,100 SF
Lot Size0.06 Acres
Price / SF$171.57
Days on Market252
Property Features for 735 737 Laufer Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Rm-Residential
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 7, Bathroom 6, Bathroom 5, Bedroom 3, Bedroom 9, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 8, Bathroom 2
Parking features
On Street
Subdivision
Not in Development
Elementary school district
Bethlehem
Middle school district
Bethlehem
High school district
Bethlehem
Directions
Heading south on Stefko, make right off of the bridge, make left on Hayes, R on Laufer, 2 blocks home on L
Standard status
Active
APN
P6SE2A 28 28A 0204
Size
5,100 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
2762
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating)
Water source
Public
Building Details
Year built
1920
Number of units
6
Building materials
Brick
Listing Agency:
Century 21 Ramos Realty · Century 21 Real Estate
(610) 866-4423
Listed By:
Anthony Ramos · License #AB068035
(610) 866-4423
Added: Dec 1, 2025
Changed: Aug 5
Last Checked: Aug 10 at 6:06AM
MLS# 768540
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.
735–737 Laufer Street in South Bethlehem offers a six-unit brick apartment investment built in 1920. The property consists of three two-bedroom units and three one-bedroom units. Most units have been updated and are in very good condition.
Heating and hot water are split by building: the 735 building has electric heat and hot water, while the 737 building offers natural gas heat and hot water. Most tenants are currently on month-to-month leases, providing flexibility for future rent increases or repositioning. Public utilities are available with public water and public sewer, and parking is available on street.
The location is convenient to tenant needs, with the property just a half-block from a City of Bethlehem public parking lot at Atlantic & Laufer St.
Heating and hot water are split by building: the 735 building has electric heat and hot water, while the 737 building offers natural gas heat and hot water. Most tenants are currently on month-to-month leases, providing flexibility for future rent increases or repositioning. Public utilities are available with public water and public sewer, and parking is available on street.
The location is convenient to tenant needs, with the property just a half-block from a City of Bethlehem public parking lot at Atlantic & Laufer St.
Key Highlights
- Six‑unit brick apartment building at 735–737 Laufer Street, built in 1920
- Unit mix: three two‑bedroom units and three one‑bedroom units
- 735 building has electric heat and hot water; 737 building has gas heat and hot water
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
$29,793
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
3.40%
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%
$595,860
$595.9K
Cap Rate 7%
$425,614
$425.6K
Cap Rate 9%
$331,033
$331.0K
Market Conditions
NOI Build-Up for 5,100 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
$58.8K $11.52/SF
− Vacancy
−$4.6K −$0.90/SF
EGI
$54.2K $10.62/SF
− OpEx
−$24.4K −$4.78/SF
NOI
$29.8K $5.84/SF
Area
Lehigh County, PA
Vacancy
7.80%
Lease Rate
$11.52 /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%
$595,860
Cap Rate 7%
$425,614
Cap Rate 9%
$331,033
Alternative Uses
Best Use
Apartment 5plus
$425.6K
$372.4K – $496.6K
NOI $29,793 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$750.0K
$656.2K – $875.0K
NOI $52,498 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 18015, PA
33,286
Population
12,867
Households
2.6
Avg Household Size
32
Median Age
31%
College-Educated
87%
High-School Grad
23.2 sq mi
ZIP Area
1,435
Density / Sq Mi
$58,470
Median Household Income
$32,703
Median Earnings
$1,310
Median Rent
$243,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit brick apartment building in Rm-Residential zoning with three two-bedroom and three one-bedroom units and month-to-month tenants.
Where is this apartment building located?
The property is located at 735 737 Laufer Street Bethlehem, PA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Six‑unit brick apartment building at 735–737 Laufer Street, built in 1920; Unit mix: three two‑bedroom units and three one‑bedroom units; 735 building has electric heat and hot water; 737 building has gas heat and hot water
