Leased Triplex with Detached
115 Montgomery Avenue Bala Cynwyd, PA 19004
115 Montgomery Avenue, Bala Cynwyd, PA, 19004
$1,500,000
For Sale
$1,500,000
Fully occupied triplex with three apartments plus a rented garage and tenant-paid utilities.
Property Size4,082 SF
Price / SF$367.47
Days on Market81
Property Features for 115 Montgomery Avenue
General Information
- Standard status
- Active
- Size
- 4,082 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1925
Listing agency
EXP Realty, LLC
(267) 838-8537
Listed by
Jason Drew Driscoll · License #RS360272
(267) 838-8537
Source
Compass
Added: May 3 Updated: Jul 10 at 1:53PM Checked: Jul 21 at 7:04AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This income-producing triplex includes three residential units and a detached garage, all currently leased. Unit mix comprises a 3-bedroom, 1-bath apartment with a private deck and in-unit laundry, a 2–3 bedroom, 1-bath apartment with in-unit laundry, and a large 5-bedroom, 1-bath apartment with in-unit laundry. In addition to the three apartments, the detached garage is separately rented. Tenant-paid utilities include electric and gas, while each unit pays a $100 monthly water fee. The property also provides a large driveway with parking for 10+ vehicles, supporting both tenant and guest parking needs.
The property is located at 115 Montgomery Avenue in Bala Cynwyd, Pennsylvania, within the Lower Merion School District. The listing notes the asset is fully occupied, providing an immediately income-generating setup.
For buyers seeking a turnkey, leased multifamily asset, this configuration offers multiple rental streams through three apartments and an additional garage rental. The presence of in-unit laundry and the shared parking capacity can support tenant comfort and daily convenience. With electric and gas responsibility placed on tenants and a recurring water fee structure described per unit, operating expenses are partially managed through tenant utility payments, while the property remains under active leasing.
The property is located at 115 Montgomery Avenue in Bala Cynwyd, Pennsylvania, within the Lower Merion School District. The listing notes the asset is fully occupied, providing an immediately income-generating setup.
For buyers seeking a turnkey, leased multifamily asset, this configuration offers multiple rental streams through three apartments and an additional garage rental. The presence of in-unit laundry and the shared parking capacity can support tenant comfort and daily convenience. With electric and gas responsibility placed on tenants and a recurring water fee structure described per unit, operating expenses are partially managed through tenant utility payments, while the property remains under active leasing.
Key Highlights
- Fully occupied triplex plus separately rented detached garage; all units currently leased
- Gross rental income of $9,370/month ($112,440 annually) from 3 residential units and the garage
- 3‑bedroom unit with private deck and in‑unit laundry rented for $3,070/month
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.6k | $22.20 |
| − Vacancy | −$5.9k | −$1.44 |
| EGI | $84.7k | $20.76 |
| − OpEx | −$25.4k | −$6.23 |
| NOI | $59.3k | $14.53 |
4,082 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$847.3K
$741.4K – $988.5K
NOI $59,311 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$787.8K
$689.4K – $919.2K
NOI $55,149 @ 7.0% cap · market cap 3.68%
Theoretical Best
Specialty Retail
$2.35M
$2.05M – $2.74M
NOI $164,361 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Fully occupied triplex with three apartments plus a rented garage and tenant-paid utilities.
Where is this triplex located?
The property is located at 115 Montgomery Avenue Bala Cynwyd, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Fully occupied triplex plus separately rented detached garage; all units currently leased; Gross rental income of $9,370/month ($112,440 annually) from 3 residential units and the garage; 3‑bedroom unit with private deck and in‑unit laundry rented for $3,070/month
