Corner Brick Triplex with Three One-Bed
For Sale
$399,000
744 N 5th Street, Allentown, PA 18102
MULTI_FAMILY - Allentown City, PA
Property Size2,205 SF
Lot Size0.04 Acres
Price / SF$180.95
Days on Market114
Property Features for 744 N 5th Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
R-MH
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 1
Parking
4
Parking features
On Street
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
From Route 22, take the exit for Allentown and head south on N 5th Street. Continue on N 5th Street-744 N 5th Street will be on your right near the Center City area.
Standard status
Active
APN
640704469633 1
Size
2,205 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2437
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Building materials
Brick
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Akinlana Popoola · License #RS379206
(412) 925-5551
Added: Apr 29
Changed: Aug 3
Last Checked: Aug 20 at 11:06PM
MLS# 776024
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 corner brick triplex offers three one-bedroom units with three bathrooms, all currently occupied on month-to-month leases. Built in 1900, the property is configured for efficient day-to-day operations, with baseboard heating and window unit cooling. The home is served by public water and public sewer, and utilities are split so tenants pay for electric heat and gas for cooking via separate meters. Landlord expenses are limited to taxes, insurance, and water/sewer.
A 0.041-acre lot supports the brick exterior and on-street parking. In addition to the main living space, the property includes a garage and a large basement that provides value-add potential through coin-operated laundry and/or tenant storage.
With three independently leased units, the layout supports straightforward occupancy management and provides a practical structure for an owner seeking ongoing rental performance.
A 0.041-acre lot supports the brick exterior and on-street parking. In addition to the main living space, the property includes a garage and a large basement that provides value-add potential through coin-operated laundry and/or tenant storage.
With three independently leased units, the layout supports straightforward occupancy management and provides a practical structure for an owner seeking ongoing rental performance.
Key Highlights
- Three occupied one‑bedroom units on month‑to‑month leases
- Corner lot with solid brick exterior and on‑street parking
- Tenants pay electric heat and gas for cooking; separately metered
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
$23,129
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
5.80%
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%
$462,580
$462.6K
Cap Rate 7%
$330,414
$330.4K
Cap Rate 9%
$256,989
$257.0K
Market Conditions
NOI Build-Up for 2,205 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
$35.7K $16.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$33.0K $14.99/SF
− OpEx
−$9.9K −$4.50/SF
NOI
$23.1K $10.49/SF
Area
Allentown, PA
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$462,580
Cap Rate 7%
$330,414
Cap Rate 9%
$256,989
Alternative Uses
Best Use
Multifamily LT 5
$330.4K
$289.1K – $385.5K
NOI $23,129 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$290.6K
$254.3K – $339.1K
NOI $20,345 @ 7.0% cap · market cap 5.10%
Theoretical Best
Specialty Retail
$433.2K
$379.0K – $505.4K
NOI $30,323 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,701
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - R-MH zoned corner brick triplex with three occupied one-bedroom units on month-to-month leases.
Where is this triplex located?
The property is located at 744 N 5th Street Allentown, PA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Three occupied one‑bedroom units on month‑to‑month leases; Corner lot with solid brick exterior and on‑street parking; Tenants pay electric heat and gas for cooking; separately metered
