Stone Triplex with Two
For Sale
$650,000
7301 CHESTNUT AVE, Elkins Park, PA 19027
Multi-Family, ELKINS PARK, PA
Property Size4,355 SF
Lot Size0.27 Acres
Price / SF$149.25
Days on Market346
Property Features for 7301 CHESTNUT AVE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
2
Parking features
Garage - Detached, Driveway
Fireplace
1
Subdivision
ELKINS PARK
Elementary school district
CHELTENHAM
Middle school district
CHELTENHAM
High school district
CHELTENHAM
Standard status
Active
Size
4,355 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
9847
Utilities
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s)
Amenities
solar panels
fenced front yard
covered porch
garden
patio
mature landscaping
shared laundry facilities
storage
Building Details
Year built
1873
Number of units
3
Building materials
Stone
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Jason Drew Driscoll · License #RS360272
(267) 838-8537
Added: Oct 9, 2025
Changed: Sep 3
Last Checked: Sep 19 at 2:06AM
MLS# PAMC2158056
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 4,355-square-foot stone triplex, built in 1873, comprises three residential units arranged across three levels. Each unit has its own kitchen and full bath. The first-floor residence includes three bedrooms, two full baths, and a kitchen opening toward the rear yard. The second-floor unit offers three bedrooms, a full bath, more than 1,200 square feet, and in-unit laundry. The third-floor apartment contains one bedroom and one bath. Two units are tenant occupied, while the third is vacant. Shared basement laundry and additional storage support the building’s functionality.
The property occupies 0.2732 acres and includes a two-car garage, a second detached garage, a large driveway, and solar panels. Exterior features include a fenced front yard, covered porch, garden, rear patio, and mature landscaping. Restaurants, cafes, and regional rail are nearby, with the property positioned between Center City and suburban communities.
The property occupies 0.2732 acres and includes a two-car garage, a second detached garage, a large driveway, and solar panels. Exterior features include a fenced front yard, covered porch, garden, rear patio, and mature landscaping. Restaurants, cafes, and regional rail are nearby, with the property positioned between Center City and suburban communities.
Key Highlights
- Three‑unit stone multifamily property totaling 4,355 square feet on 0.2732 acres
- Unit mix includes two three‑bedroom residences and one one‑bedroom apartment
- Two units are tenant occupied; the third unit is vacant
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
$58,837
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
9.05%
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%
$1,176,740
$1.2M
Cap Rate 7%
$840,529
$840.5K
Cap Rate 9%
$653,744
$653.7K
Market Conditions
NOI Build-Up for 4,355 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
$113.9K $26.16/SF
− Vacancy
−$6.9K −$1.60/SF
EGI
$107.0K $24.56/SF
− OpEx
−$48.1K −$11.05/SF
NOI
$58.8K $13.51/SF
Area
Montgomery County, PA
Vacancy
6.10%
Lease Rate
$26.16 /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%
$1,176,740
Cap Rate 7%
$840,529
Cap Rate 9%
$653,744
Alternative Uses
Best Use
Multifamily LT 5
$904.0K
$791.0K – $1.05M
NOI $63,278 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$840.5K
$735.5K – $980.6K
NOI $58,837 @ 7.0% cap · market cap 9.05%
Theoretical Best
Specialty Retail
$2.51M
$2.19M – $2.92M
NOI $175,353 @ 7.0% cap · market cap 26.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
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Business Placement
Demographics for 19027, PA
19,170
Population
8,550
Households
2.2
Avg Household Size
43
Median Age
56%
College-Educated
97%
High-School Grad
3.9 sq mi
ZIP Area
4,915
Density / Sq Mi
$105,190
Median Household Income
$52,970
Median Earnings
$1,439
Median Rent
$348,700
Median Home Value
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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-level multifamily property with separate kitchens, full baths, shared laundry, solar panels, and flexible occupancy.
Where is this triplex located?
The property is located at 7301 CHESTNUT AVE Elkins Park, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑unit stone multifamily property totaling 4,355 square feet on 0.2732 acres; Unit mix includes two three‑bedroom residences and one one‑bedroom apartment; Two units are tenant occupied; the third unit is vacant
