Quadplex with Updated
For Sale
$262,500
639 S Ankeny Ave, Somerset, PA 15501
Multi-Family, 2 Story, Somerset, PA
Property Size1,810 SF
Lot Size0.11 Acres
Price / SF$145.03
Days on Market44
Property Features for 639 S Ankeny Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Rooms
Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 8, Bedroom 7, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 3
Appliances
Other-See Also Included
Lot features
Rectangular
Elementary school district
Somerset Area
Middle school district
Somerset Area
High school district
Somerset Area
Directions
From Main St. in Somerset, turn onto S. Center Ave. Travel approximately 0.5 miles and turn right onto S. Ankeny Ave. Continue to 639A S. Ankeny Ave. The property will be on the left.
Subdivision
Somerset Boro-S41
Standard status
Active
APN
S41-040-324-00
Size
1,810 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
2992 /113
Tax Annual Amount
2708
Legal Description
2992 /113
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Carpet
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
REALTY ONE GROUP LANDMARK
(724) 427-5801
Listed By:
Kaylee Hribar · License #RS373519
(814) 624-9479
Added: Jul 22
Changed: Aug 19
Last Checked: Sep 3 at 4:06PM
MLS# 96042151
Copyright © 2026 Cambria Somerset Association of 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 quadplex comprises 4 rental units distributed between two separate buildings on a 0.11-acre parcel. The front structure has undergone remodeling, while both buildings received new shingle roofs in 2024. Interior finishes include vinyl and carpet flooring, with hot water heating serving the property. Vinyl siding completes the exterior, and the buildings connect to public water and public sewer.
The property is located at 639 S Ankeny Ave in Somerset, PA 15501, near shopping, dining, schools, and major roadways. Its four-unit configuration and recent building improvements provide a clear physical profile for residential income use.
The property is located at 639 S Ankeny Ave in Somerset, PA 15501, near shopping, dining, schools, and major roadways. Its four-unit configuration and recent building improvements provide a clear physical profile for residential income use.
Key Highlights
- 4 rental units across two separate buildings
- Front building remodeled with updated finishes
- New roofs installed on both buildings in 2024
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
$14,927
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
5.69%
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%
$298,540
$298.5K
Cap Rate 7%
$213,243
$213.2K
Cap Rate 9%
$165,856
$165.9K
Market Conditions
NOI Build-Up for 1,810 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
$22.8K $12.60/SF
− Vacancy
−$1.5K −$0.82/SF
EGI
$21.3K $11.78/SF
− OpEx
−$6.4K −$3.53/SF
NOI
$14.9K $8.25/SF
Area
Somerset County, PA
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
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%
$298,540
Cap Rate 7%
$213,243
Cap Rate 9%
$165,856
Alternative Uses
Best Use
Multifamily LT 5
$213.2K
$186.6K – $248.8K
NOI $14,927 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$197.7K
$173.0K – $230.7K
NOI $13,841 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$573.4K
$501.7K – $669.0K
NOI $40,139 @ 7.0% cap · market cap 15.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
Explore this area
Business Placement
Demographics for 15501, PA
16,277
Population
7,656
Households
2.1
Avg Household Size
46
Median Age
20%
College-Educated
89%
High-School Grad
132.0 sq mi
ZIP Area
123
Density / Sq Mi
$55,797
Median Household Income
$35,311
Median Earnings
$731
Median Rent
$162,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two separate buildings provide a four-unit residential income configuration with public water and sewer.
Where is this quadplex located?
The property is located at 639 S Ankeny Ave Somerset, PA.
What is the asking price?
The asking price for this property is $262,500.
What are key features of this property?
This property features: 4 rental units across two separate buildings; Front building remodeled with updated finishes; New roofs installed on both buildings in 2024
