Triplex with
New
For Sale
$429,000
875 Jerome Street, Allentown, PA 18109
ResidentialIncome, Allentown City, PA
Property Size1,600 SF
Lot Size0.11 Acres
Price / SF$268.13
Days on Market4
Property Features for 875 Jerome Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
R-M-Medium Density Reside
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 6, Bathroom 2, Bedroom 3
Parking
3
Parking features
Off Street
Interior features
Balcony
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
From US-22, Take the Airport Road S exit, L onto Union Blvd, R onto N Jerome St, L onto E Clay St, R onto N Jay St.
Standard status
Active
APN
640798634729-1
Size
1,600 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
2564
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Amenities
backyard
balcony
Building Details
Year built
1940
Floors in Building
3
Number of units
3
Building materials
VinylSiding
Listing Agency:
Keller Williams Northampton · Keller Williams Realty
(610) 867-8888
Listed By:
Shabana Pathan · License #RS307275
(484) 893-1204
Added: Oct 6
Last Checked: Oct 9 at 12:06PM
MLS# 785760
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 detached, three-story triplex contains 1,600 square feet arranged as three separate apartments. Each unit has two bedrooms and one full bathroom, for a total of six bedrooms and three bathrooms. The second-floor apartment includes a separate eat-in kitchen with a gas stove, refrigerator, and double sink. A balcony and large backyard add outdoor space, while off-street parking provides on-site parking convenience. The building has vinyl siding and was built in 1940.
Set on an approximately 32.5-by-120-foot lot in East Allentown, the property has public water and public sewer. Union Boulevard, Airport Road, and Route 22 are identified as nearby transportation routes. Coca-Cola Park, shopping centers, restaurants, parks, and schools are also located nearby.
Set on an approximately 32.5-by-120-foot lot in East Allentown, the property has public water and public sewer. Union Boulevard, Airport Road, and Route 22 are identified as nearby transportation routes. Coca-Cola Park, shopping centers, restaurants, parks, and schools are also located nearby.
Key Highlights
- Three apartments, each with 2 bedrooms and 1 full bathroom
- 1,600 square feet in a detached, three‑story building
- Approximately 32.5' x 120' lot with a large backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,783
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$335,660
$335.7K
Cap Rate 7%
$239,757
$239.8K
Cap Rate 9%
$186,478
$186.5K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$25.9K $16.20/SF
− Vacancy
−$1.9K −$1.22/SF
EGI
$24.0K $14.99/SF
− OpEx
−$7.2K −$4.50/SF
NOI
$16.8K $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 Rate 5%
$335,660
Cap Rate 7%
$239,757
Cap Rate 9%
$186,478
Alternative Uses
Best Use
Multifamily LT 5
$239.8K
$209.8K – $279.7K
NOI $16,783 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$210.9K
$184.5K – $246.1K
NOI $14,763 @ 7.0% cap · market cap 3.44%
Theoretical Best
Specialty Retail
$314.3K
$275.0K – $366.7K
NOI $22,003 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 18109, PA
18,915
Population
7,395
Households
2.6
Avg Household Size
37
Median Age
19%
College-Educated
80%
High-School Grad
8.2 sq mi
ZIP Area
2,307
Density / Sq Mi
$55,437
Median Household Income
$36,632
Median Earnings
$1,239
Median Rent
$180,200
Median Home Value
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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?
Triplex - Three separate two-bedroom apartments provide a consistent residential layout across the building.
Where is this triplex located?
The property is located at 875 Jerome Street Allentown, PA.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Three apartments, each with 2 bedrooms and 1 full bathroom; 1,600 square feet in a detached, three‑story building; Approximately 32.5' x 120' lot with a large backyard
