Colonial Triplex with Updated
For Sale
Under Contract
$600,000
803 FORREST Street, Conshohocken, PA 19428
Multi-Family, CONSHOHOCKEN, PA
Property Size2,360 SF
Lot Size0.07 Acres
Price / SF$254.24
Days on Market47
Property Features for 803 FORREST Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
On Street
Subdivision
CONSHOHOCKEN
Elementary school
COLONIAL
Middle school
COLONIAL
High school
PLYMOUTH WHITEMARSH
Elementary school district
COLONIAL
Middle school district
COLONIAL
High school district
COLONIAL
Standard status
Active Under Contract
Size
2,360 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
4059
Utilities
Heating system
Other (Heating), Forced Air
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1920
Number of units
3
Building materials
Stucco
Architectural style
Colonial
Listing Agency:
Quality Real Estate-Broad St
Listed By:
Wadia S Timazee-Biddle · License #RS299997
(215) 457-2600
Added: Aug 4
Changed: Sep 13
Last Checked: Sep 19 at 1:06AM
MLS# PAMC2189256
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.
803 Forrest Street is a 1920 Colonial-style triplex with 2,360 square feet on a 0.07-acre lot. The property contains two two-bedroom, one-bath apartments plus a studio efficiency unit. Each residence is separately metered. The first-floor apartment and second-floor apartment are tenant occupied, while the studio is vacant and recently updated with central air conditioning. The two larger units are described as being in average condition and are offered with the property in its current as-is condition.
The building has stucco construction, forced-air and other heating, central air, window units, and on-street parking. It is located in Conshohocken within the Colonial School District, with access to regional rail service, I-76, I-476, and the Pennsylvania Turnpike. The surrounding area includes restaurants, boutique shopping, and nightlife, with access to Center City Philadelphia, King of Prussia, and the Main Line.
The building has stucco construction, forced-air and other heating, central air, window units, and on-street parking. It is located in Conshohocken within the Colonial School District, with access to regional rail service, I-76, I-476, and the Pennsylvania Turnpike. The surrounding area includes restaurants, boutique shopping, and nightlife, with access to Center City Philadelphia, King of Prussia, and the Main Line.
Key Highlights
- Triplex with 2,360 square feet on a 0.07‑acre lot
- Three separately metered units: two 2‑bedroom apartments and one studio efficiency
- Both 2 Bedroom units are Tenant occupied; the Studio 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
$34,291
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
5.72%
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%
$685,820
$685.8K
Cap Rate 7%
$489,871
$489.9K
Cap Rate 9%
$381,011
$381.0K
Market Conditions
NOI Build-Up for 2,360 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
$52.4K $22.20/SF
− Vacancy
−$3.4K −$1.44/SF
EGI
$49.0K $20.76/SF
− OpEx
−$14.7K −$6.23/SF
NOI
$34.3K $14.53/SF
Area
Montgomery County, PA
Vacancy
6.50%
Lease Rate
$22.20 /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%
$685,820
Cap Rate 7%
$489,871
Cap Rate 9%
$381,011
Alternative Uses
Best Use
Multifamily LT 5
$489.9K
$428.6K – $571.5K
NOI $34,291 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$455.5K
$398.6K – $531.4K
NOI $31,884 @ 7.0% cap · market cap 5.31%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,025 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,358
Businesses Nearby
Explore this area
Business Placement
Demographics for 19428, PA
19,690
Population
10,032
Households
2
Avg Household Size
36
Median Age
66%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
2,697
Density / Sq Mi
$116,566
Median Household Income
$73,713
Median Earnings
$1,900
Median Rent
$445,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered units include two occupied apartments and a vacant efficiency studio.
Where is this triplex located?
The property is located at 803 FORREST Street Conshohocken, PA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Triplex with 2,360 square feet on a 0.07‑acre lot; Three separately metered units: two 2‑bedroom apartments and one studio efficiency; Both 2 Bedroom units are Tenant occupied; the Studio unit is vacant
