Corner Lot Brick
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.
Type:Multifamily
Property size:
2,205 SFPrice / SF:
$180/SF- Added:
- Jun 16, 2026
- Days on Market:
- 25
- Last Refresh:
- Jun 20 at 5:36 am
Property Features for 744 North 5th Street
General Information
- Standard status
- Active
- Size
- 2,205 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing office EXP Realty
Listing date Jun 16, 2026
Source Crexi
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
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
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
