Brick Triplex with
New
For Sale
$299,000
1121 ELMWOOD AVENUE, Sharon Hill, PA 19079
Two units have tenants in place, while the seller occupies the remaining residence.
Property Size2,024 SF
Lot Size0.08 Acres
Days on Market5
Property Features for 1121 ELMWOOD AVENUE
General Information
Standard status
Active
Size
2,024 SF
Lot size
0.08 Acres
Property subtype
Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,595
Building Details
Building Size
2,024 SF
Year Built
1905
Construction
brick semi-detached
Tenancy
Multi
Listing Agency:
Tara Management Services Inc
Listed By:
Evan Charles Streeter · License #RS376703
(215) 859-1184
Source:
Patmckennarealtors
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tara Management Services Inc
Investment Insights
Based on property information with market context.
Built in 1905, this brick triplex contains three residential units. Two are occupied by tenants, and the seller lives in the third. A full basement provides storage space, and the property sits on a 0.08-acre lot. Parking options include a driveway, off-street spaces, and on-street parking. There are no HOA fees.
The seller is open to a post-settlement rent-back arrangement for a few months in the seller-occupied unit, allowing for a transition period after closing.
The seller is open to a post-settlement rent-back arrangement for a few months in the seller-occupied unit, allowing for a transition period after closing.
Key Highlights
- Three residential units; two are tenant‑occupied and the seller occupies the third
- Full basement for storage
- 0.08‑acre lot
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
$22,185
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
7.42%
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%
$443,700
$443.7K
Cap Rate 7%
$316,929
$316.9K
Cap Rate 9%
$246,500
$246.5K
Market Conditions
NOI Build-Up for 2,024 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
$36.4K $18.00/SF
− Vacancy
−$4.7K −$2.34/SF
EGI
$31.7K $15.66/SF
− OpEx
−$9.5K −$4.70/SF
NOI
$22.2K $10.96/SF
Area
Delaware County, PA
Vacancy
13.01%
Lease Rate
$18.00 /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%
$443,700
Cap Rate 7%
$316,929
Cap Rate 9%
$246,500
Alternative Uses
Best Use
Multifamily LT 5
$316.9K
$277.3K – $369.8K
NOI $22,185 @ 7.0% cap · market cap 7.42%
Second Best
Apartment 5plus
$289.9K
$253.6K – $338.2K
NOI $20,290 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$613.7K
$537.0K – $715.9K
NOI $42,956 @ 7.0% cap · market cap 14.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 19079, PA
9,371
Population
3,577
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
93%
High-School Grad
1.6 sq mi
ZIP Area
5,857
Density / Sq Mi
$57,002
Median Household Income
$39,926
Median Earnings
$1,212
Median Rent
$159,800
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Two units have tenants in place, while the seller occupies the remaining residence.
Where is this triplex located?
The property is located at 1121 ELMWOOD AVENUE Sharon Hill, PA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Three residential units; two are tenant‑occupied and the seller occupies the third; Full basement for storage; 0.08‑acre lot
