Leased Triplex with Mixed Unit
For Sale
$539,000
1151 MORTON Avenue, Folsom, PA 19033
MULTI_FAMILY - Colonial, Victorian - FOLSOM, PA
Property Size3,200 SF
Lot Size0.20 Acres
Price / SF$168.44
Days on Market103
Property Features for 1151 MORTON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
7
Parking features
On Street, Garage - Detached, Driveway
Subdivision
NONE AVAILABLE
Elementary school
EDGEWOOD
Middle school
RIDLEY
High school
RIDLEY
Elementary school district
RIDLEY
Middle school district
RIDLEY
High school district
RIDLEY
Standard status
Active
Size
3,200 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
8620
Utilities
Heating system
Hot Water(Heating)
Cooling system
Ceiling Fan(s), Wall Unit(s)
Building Details
Year built
1920
Number of units
3
Building materials
Cast Iron Plumbing, Copper Plumbing, Glass, Masonry, Vinyl Siding
Architectural style
Victorian, Colonial
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(610) 566-1100
Listed By:
Andrew Gust · License #RS365061
(917) 692-7483
Added: May 2
Changed: Jul 13
Last Checked: Aug 12 at 2:06AM
MLS# PADE2113382
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.
Located at 1151 Morton Avenue in Folsom, this detached triplex totals 3,200 square feet across three levels, plus a full basement. The property contains one 1-bedroom unit, one 2-bedroom unit, and one 3-bedroom unit, and all units are currently leased. Built in 1920, the exterior includes vinyl siding, and the roof was replaced in 2019. Updates include new windows installed in 2001 and new boilers added in 2024 and 2025.
The triplex sits on a 50 x 175 lot (about 0.2 acres) with parking for up to six vehicles and a standalone single-car garage. Utilities are handled with individual metering for electric and gas, with the owner paying water and common area electric. The property is positioned near major routes and public transportation, including the SEPTA Media Line station less than a mile away, and is described as minutes from the airport. It is also within the Ridley School District.
For investors or owner-operators seeking a ready-to-rent configuration, the unit mix offers flexibility for prospective tenants while maintaining a consistent multi-unit operating model. With multiple recent building-system improvements and dedicated utility metering by unit, the property is structured to support straightforward day-to-day ownership.
The triplex sits on a 50 x 175 lot (about 0.2 acres) with parking for up to six vehicles and a standalone single-car garage. Utilities are handled with individual metering for electric and gas, with the owner paying water and common area electric. The property is positioned near major routes and public transportation, including the SEPTA Media Line station less than a mile away, and is described as minutes from the airport. It is also within the Ridley School District.
For investors or owner-operators seeking a ready-to-rent configuration, the unit mix offers flexibility for prospective tenants while maintaining a consistent multi-unit operating model. With multiple recent building-system improvements and dedicated utility metering by unit, the property is structured to support straightforward day-to-day ownership.
Key Highlights
- 3,200 sq. ft. detached triplex on a 50 x 175 lot in Ridley Township, built in 1920.
- Unit mix: 1‑bedroom, 2‑bedroom, and 3‑bedroom units; all currently leased for $54,000 annual rental income.
- Recent updates include new roof (2019), new windows (2001), and new boilers (2024 and 2025).
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
$35,074
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
6.51%
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%
$701,480
$701.5K
Cap Rate 7%
$501,057
$501.1K
Cap Rate 9%
$389,711
$389.7K
Market Conditions
NOI Build-Up for 3,200 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
$57.6K $18.00/SF
− Vacancy
−$7.5K −$2.34/SF
EGI
$50.1K $15.66/SF
− OpEx
−$15.0K −$4.70/SF
NOI
$35.1K $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%
$701,480
Cap Rate 7%
$501,057
Cap Rate 9%
$389,711
Alternative Uses
Best Use
Multifamily LT 5
$501.1K
$438.4K – $584.6K
NOI $35,074 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$458.3K
$401.0K – $534.7K
NOI $32,079 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$970.2K
$848.9K – $1.13M
NOI $67,915 @ 7.0% cap · market cap 12.60%
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
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
746
Businesses Nearby
Explore this area
Business Placement
Demographics for 19033, PA
7,798
Population
2,987
Households
2.6
Avg Household Size
40
Median Age
31%
College-Educated
93%
High-School Grad
1.2 sq mi
ZIP Area
6,498
Density / Sq Mi
$102,313
Median Household Income
$50,659
Median Earnings
$1,284
Median Rent
$264,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three leased units with 1-, 2-, and 3-bedroom layouts in a detached 1920s property.
Where is this triplex located?
The property is located at 1151 MORTON Avenue Folsom, PA.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: 3,200 sq. ft. detached triplex on a 50 x 175 lot in Ridley Township, built in 1920.; Unit mix: 1‑bedroom, 2‑bedroom, and 3‑bedroom units; all currently leased for $54,000 annual rental income.; Recent updates include new roof (2019), new windows (2001), and new boilers (2024 and 2025).
