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    Historic Brick Multi-Family Building Title is generated by Realmo AI

    32 N 3RD Avenue, Coatesville, PA 19320

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    For Sale
    $1,200,000

    MULTI_FAMILY - Colonial - COATESVILLE, PA

    Property size:
    3,696 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $324/SF
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 32 N 3RD Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    On Street
    Standard status
    Active
    Size
    3,696 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Annual Amount
    15251

    Utilities

    Heating system
    Baseboard, Electric (Heating)

    Building Details

    Year built
    1920
    Number of units
    4
    Building materials
    Brick, Stone
    Architectural style
    Colonial

    We can help!

    Listing Contact
    John Guerrera
    John Guerrera

    Listing agent John Guerrera License #AB061749L

    Listing office RE/MAX Action Associates 403 Lincoln Highway unit: 101, Exton, PA

    Listing date Jun 1, 2026

    MLS# PACT2126406 Listing URL

    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.

    HighLights

    • Historic “Nagle” building, formerly the Old Washington Firehouse, built in 1920 (colonial style).
    • 12 residential units in all‑brick construction, with unit mix of 1 one‑bedroom, 4 two‑bedrooms, and 7 three‑bedrooms.
    • Updates reported for all units: updated kitchens and appliances, bathrooms, flooring, newer windows, newer roof, and newer electrical.
    • 3 vacant units ready to rent; 12 occupied units with gross monthly rents of $15,263 and yearly gross income of $183,156.
    • Tenants reimburse landlord for metered water, sewer, and gas (all units are metered).
    • All City inspections are current through 12‑31‑26; heating includes baseboard and electric (heating); parking is on‑street.

    Overview

    Historic “Nagle” Building, formerly the Old Washington Firehouse, offering 12 residential units in an all-brick setting. The property’s units are described as spacious and updated throughout, including kitchens, appliances, bathrooms, flooring, newer windows, a newer roof, and newer electrical. Unit mix includes one 1-bedroom, four 2-bedroom, and seven 3-bedroom apartments. E-I kitchens, large living rooms, spacious bedrooms, and well-appointed baths are noted for all units. Three vacant units are ready to be rented, providing immediate leasing opportunity.

    The building is positioned for convenient access to the surrounding Coatesville area and beyond, with downtown destinations and major routes referenced in the remarks. It is noted as walking distance to the New Coatesville train station, and close to Route 30 Bypass and Route 202. The seller also highlights proximity to restaurants, shopping, and multiple historic attractions.

    This asset is well suited for an investor seeking a value-add-to-turned-key approach within a small multi-family format, supported by documented updates and current city inspections through 12-31-26. With three units available now and strong unit breadth across 1-, 2-, and 3-bedroom layouts, it can appeal to operators aiming to stabilize occupancy while maintaining a consistent, residential income strategy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Coatesville
    County
    Chester
    State
    Pennsylvania
    Longitude
    -75.82045746
    Latitude
    39.98450851

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    FAQs

    What type of property is this?
    Apartment building - All-brick historic building with 12 updated residential units and multiple ready-to-rent vacancies.
    Where is this apartment building located?
    The property is located at 32 N 3RD Avenue Coatesville, PA.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Historic “Nagle” building, formerly the Old Washington Firehouse, built in 1920 (colonial style).; 12 residential units in all‑brick construction, with unit mix of 1 one‑bedroom, 4 two‑bedrooms, and 7 three‑bedrooms.; Updates reported for all units: updated kitchens and appliances, bathrooms, flooring, newer windows, newer roof, and newer electrical.
    (610) 909-0975
    We can help!
    Listing Contact
    John Guerrera
    John Guerrera
    Real Estate License ID: AB061749L
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    32 N 3RD Avenue, COATESVILLE, PA 19320
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