Corner Lot Brick
For Sale
Contact for pricing
744 North 5th Street, Allentown, PA 18102
Three fully occupied one-bedroom units with separately metered utilities and a garage provide straightforward residential income potential.
Property Size2,205 SF
Price / SF$180.95
Days on Market52
Property Features for 744 North 5th Street
General Information
Standard status
Active
Size
2,205 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
EXP Realty
Listed By:
Akinlana Popoola · License #RS379206
Source:
Crexi
Added: Jun 16
Changed: Jul 10
Last Checked: Aug 6 at 6:30AM
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 EXP Realty
Investment Insights
Based on property information with market context.
This fully occupied triplex includes three spacious one-bedroom units. All units are currently rented on month-to-month leases, giving a new owner flexibility going forward. The property features a solid brick exterior on a corner lot, designed for long-term durability and lower exterior maintenance. Utilities are handled with tenants paying electric heat (baseboard) and gas for cooking, each separately metered. Landlord expenses are limited to taxes, insurance, and water/sewer.
Additional on-site income is supported by a garage. A large basement adds practical flexibility, with room to accommodate coin-operated laundry and/or tenant storage, depending on how an owner chooses to use the space. The asset is positioned as a rental option within the area’s established rental corridor.
For buyers seeking an immediately rentable residential investment, this mix of three occupied one-bedroom units can support hands-on management with month-to-month tenancy. Separate metering for key utilities and a defined expense structure may help simplify operating costs. The garage and basement space further broaden how the property can be operated to meet resident needs.
Additional on-site income is supported by a garage. A large basement adds practical flexibility, with room to accommodate coin-operated laundry and/or tenant storage, depending on how an owner chooses to use the space. The asset is positioned as a rental option within the area’s established rental corridor.
For buyers seeking an immediately rentable residential investment, this mix of three occupied one-bedroom units can support hands-on management with month-to-month tenancy. Separate metering for key utilities and a defined expense structure may help simplify operating costs. The garage and basement space further broaden how the property can be operated to meet resident needs.
Key Highlights
- Three fully occupied 1‑bedroom units generating $40,500 gross income and $33,933 net income
- All units on month‑to‑month leases for immediate flexibility to adjust rents to market
- Separately metered utilities: tenants pay electric heat (baseboard) and gas for cooking
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.7k | $16.20 |
| − Vacancy | −$2.7k | −$1.22 |
| EGI | $33.0k | $14.99 |
| − OpEx | −$9.9k | −$4.50 |
| NOI | $23.1k | $10.49 |
2,205 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
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
3
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,151
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three fully occupied one-bedroom units with separately metered utilities and a garage provide straightforward residential income potential.
Where is this triplex located?
The property is located at 744 North 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 fully occupied 1‑bedroom units generating $40,500 gross income and $33,933 net income; All units on month‑to‑month leases for immediate flexibility to adjust rents to market; Separately metered utilities: tenants pay electric heat (baseboard) and gas for cooking
