Renovated Five-Unit Apartment
New
For Sale
$1,100,000
237 FRANKLIN, Phoenixville, PA 19460
MULTI_FAMILY - PHOENIXVILLE, PA
Property Size4,746 SF
Lot Size0.13 Acres
Price / SF$231.77
Days on Market3
Property Features for 237 FRANKLIN
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Parking Lot
Elementary school district
PHOENIXVILLE AREA
Middle school district
PHOENIXVILLE AREA
High school district
PHOENIXVILLE AREA
Standard status
Active
Size
4,746 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
5227
Utilities
Heating system
Hot Water(Heating), Baseboard
Cooling system
Ductless
Building Details
Year built
1900
Number of units
1
Building materials
Aluminum Siding, Brick
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Erich Beyer
(610) 731-7949
Added: Aug 17
Last Checked: Aug 19 at 6:06AM
MLS# PACT2133578
Copyright © 2026 Bright MLS. 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 4,746-square-foot apartment building contains five residential units within a property constructed in 1900. Each unit was renovated between 2017 and 2020, with hardwood or luxury vinyl flooring, granite and tile finishes, and stainless steel kitchen appliances. The building has aluminum siding and brick construction, hot water and baseboard heating, ductless cooling, and a parking lot.
Located in downtown Phoenixville, the property is positioned within Chester County and carries a 0.13-acre lot. The five-unit configuration, updated interiors, and on-site parking create a straightforward multifamily layout for an owner seeking an established residential asset.
Located in downtown Phoenixville, the property is positioned within Chester County and carries a 0.13-acre lot. The five-unit configuration, updated interiors, and on-site parking create a straightforward multifamily layout for an owner seeking an established residential asset.
Key Highlights
- Five‑unit apartment building totaling 4,746 square feet
- All five units renovated between 2017 and 2020
- Granite and tile kitchen and bathroom finishes
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
$51,463
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
4.68%
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%
$1,029,260
$1.0M
Cap Rate 7%
$735,186
$735.2K
Cap Rate 9%
$571,811
$571.8K
Market Conditions
NOI Build-Up for 4,746 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
$101.4K $21.36/SF
− Vacancy
−$7.8K −$1.64/SF
EGI
$93.6K $19.72/SF
− OpEx
−$42.1K −$8.87/SF
NOI
$51.5K $10.84/SF
Area
Chester County, PA
Vacancy
7.70%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,029,260
Cap Rate 7%
$735,186
Cap Rate 9%
$571,811
Alternative Uses
Best Use
Apartment 5plus
$735.2K
$643.3K – $857.7K
NOI $51,463 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,726 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Explore this area
Business Placement
Demographics for 19460, PA
43,611
Population
18,881
Households
2.3
Avg Household Size
40
Median Age
58%
College-Educated
96%
High-School Grad
34.5 sq mi
ZIP Area
1,264
Density / Sq Mi
$120,472
Median Household Income
$65,879
Median Earnings
$1,622
Median Rent
$426,000
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?
Apartment building - Five-unit residential property with updated interiors, dedicated parking, and a downtown Phoenixville location.
Where is this apartment building located?
The property is located at 237 FRANKLIN Phoenixville, PA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Five‑unit apartment building totaling 4,746 square feet; All five units renovated between 2017 and 2020; Granite and tile kitchen and bathroom finishes
