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Value-Add Mixed-Use Opportunity 438 N 7th St 6 Unit Apartment Building $502,000 ($83,667/Unit) 8.83% Cap Rate Allentown, PA 18102

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EXECUTIVE SUMMARY

Value-Add Mixed-Use Opportunity – Three (3) Units For Sale An excellent investment or owner-user opportunity is now available with this fully renovated mixed-use property. The building includes two (2) residential units and one (1) ground-level retail/commercial space, offering strong value-add potential. • Unit 1: Approx. 800 SF commercial/retail space featuring a private restroom, kitchenette, and generous storage—ideal for an owner-occupant or to maximize rental income. • Unit 2: One-bedroom studio apartment, perfect for consistent rental income. • Unit 3: Two-bedroom apartment with separate living and dining rooms. Currently tenant-occupied with approximately four months remaining on the lease. Renovated in 2020, the property features updated electrical and plumbing systems throughout, ensuring modern infrastructure and long-term durability. Additional highlights include rear parking and approved plans for an ADA ramp to the commercial space, adding both accessibility and value. Disclosure: The retail unit and select portions of the property still require finishing touches. The seller is open to completing the remaining work or offering the property as-is at a more favorable price. This flexibility allows you to customize or add value to the property according to your vision.

FINANCIAL SUMMARY (ACTUAL - 2024)

ANNUAL ANNUAL PER SF
Gross Rental Income $60,420 $19.92
Other Income - -
Vacancy Loss - -
Effective Gross Income $60,420 $19.92
Taxes - -
Operating Expenses $16,100 $5.31
Total Expenses $16,100 $5.31
Net Operating Income $44,320 $14.61

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual $60,420
Annual Per SF $19.92
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $60,420
Annual Per SF $19.92
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual $16,100
Annual Per SF $5.31
Total Expenses
Annual $16,100
Annual Per SF $5.31
Net Operating Income
Annual $44,320
Annual Per SF $14.61

PROPERTY FACTS

Price $502,000
Price Per Unit $83,667
Sale Type Investment
Cap Rate 8.83%
No. Units 6
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Apartment Style Low-Rise
Building Class C
Lot Size 0.11 AC
Building Size 3,034 SF
No. Stories 3
Year Built/Renovated 1843/2020
Parking Ratio 0.99/1,000 SF
Opportunity Zone Yes
Zoning B1/R

AMENITIES

UNIT AMENITIES

  • Air Conditioning
  • Heating

SITE AMENITIES

  • 24 Hour Access
  • Controlled Access
  • Smoke Free

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 2 $1,300 -
2+1 3 $1,500 -
Walk Score®
Very Walkable (89)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
549792978241-1
Land Assessment
$11,900 (2025)
Improvements Assessment
$77,600 (2025)
Total Assessment
$89,500 (2025)
Annual Taxes
$0 ($0.00/SF)
Tax Year
2024
  • Listing ID: 37187789

  • Date on Market: 8/8/2025

  • Last Updated:

  • Address: 438 N 7th St, Allentown, PA 18102

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