Fully Leased Triplex With
For Sale
$1,250,000
115 MONTGOMERY Avenue, Bala Cynwyd, PA 19004
Multi-Family, BALA CYNWYD, PA
Property Size4,082 SF
Lot Size0.34 Acres
Price / SF$306.22
Days on Market95
Property Features for 115 MONTGOMERY Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
11
Parking features
Driveway, Garage - Detached
Elementary school district
LOWER MERION
Middle school district
LOWER MERION
High school district
LOWER MERION
Standard status
Active
Size
4,082 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
12063
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
private deck
in-unit laundry
driveway parking
Building Details
Year built
1925
Number of units
3
Building materials
Frame
Architectural style
Colonial
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Jason Drew Driscoll · License #RS360272
(267) 838-8537
Added: Jun 3
Changed: Sep 3
Last Checked: Sep 5 at 4:06PM
MLS# PAMC2182228
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 Colonial-style triplex contains 4,082 square feet within a 0.34-acre property built in 1925. The building includes three residential apartments and a basement, with layouts ranging from two to five bedrooms and one bathroom per unit. In-unit laundry is provided in each apartment, and the first unit also includes a private deck. A separately rented detached garage adds another component to the property’s configuration.
A large driveway accommodates parking for 10+ vehicles. The frame construction is supported by forced-air heating and central air conditioning. Tenants are responsible for their own electric and gas utilities, while the second unit pays a $100 flat monthly water charge. The property is located in Bala Cynwyd, Pennsylvania, within the Lower Merion School District.
A large driveway accommodates parking for 10+ vehicles. The frame construction is supported by forced-air heating and central air conditioning. Tenants are responsible for their own electric and gas utilities, while the second unit pays a $100 flat monthly water charge. The property is located in Bala Cynwyd, Pennsylvania, within the Lower Merion School District.
Key Highlights
- Three residential units plus a detached garage, all currently leased
- 4,082 square feet on a 0.34‑acre lot
- Unit layouts range from 2‑3 bedrooms to 5 bedrooms; each has 1 bathroom
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
$59,311
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
4.74%
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%
$1,186,220
$1.2M
Cap Rate 7%
$847,300
$847.3K
Cap Rate 9%
$659,011
$659.0K
Market Conditions
NOI Build-Up for 4,082 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
$90.6K $22.20/SF
− Vacancy
−$5.9K −$1.44/SF
EGI
$84.7K $20.76/SF
− OpEx
−$25.4K −$6.23/SF
NOI
$59.3K $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%
$1,186,220
Cap Rate 7%
$847,300
Cap Rate 9%
$659,011
Alternative Uses
Best Use
Multifamily LT 5
$847.3K
$741.4K – $988.5K
NOI $59,311 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$787.8K
$689.4K – $919.2K
NOI $55,149 @ 7.0% cap · market cap 4.41%
Theoretical Best
Specialty Retail
$2.35M
$2.05M – $2.74M
NOI $164,361 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,235
Businesses Nearby
Explore this area
Business Placement
Demographics for 19004, PA
10,668
Population
4,453
Households
2.4
Avg Household Size
41
Median Age
73%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
3,951
Density / Sq Mi
$143,781
Median Household Income
$81,909
Median Earnings
$1,791
Median Rent
$616,000
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?
Triplex - Three leased apartments and a detached garage create a diversified multifamily configuration with dedicated parking.
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 $1,250,000.
What are key features of this property?
This property features: Three residential units plus a detached garage, all currently leased; 4,082 square feet on a 0.34‑acre lot; Unit layouts range from 2‑3 bedrooms to 5 bedrooms; each has 1 bathroom
