Restored Downtown West Chester
For Sale
$950,000
121 S WALNUT STREET, West Chester, PA 19380
Three apartments with updated kitchens, private outdoor areas, and dedicated off-street parking in downtown West Chester.
Property Size2,776 SF
Price / SF$342.22
Days on Market36
Property Features for 121 S WALNUT STREET
General Information
Standard status
Active
Size
2,776 SF
Total Parking Spaces
4
Property subtype
Triplex
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Building Details
Year Built
1890
Buildings
1
Stories
3
Listing Agency:
Coldwell Banker Realty
(610) 363-6006
Listed By:
L. Robert Frame Jr. · License #AB047095L
(484) 678-0636
Source:
Cummingsrealtors
Added: Sep 17
Changed: Oct 21
Last Checked: Oct 20 at 11:14PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This 1890 triplex contains approximately 2,776 square feet of living space arranged as three full apartments across the first, second, and third floors. The restored property includes hardwood flooring, Victorian trim, tiled bathrooms, updated kitchens, gas ranges, dishwashers, and in-unit laundry equipment. Apartment A offers two bedrooms, a private side porch, and a restored gas Franklin fireplace or stove. Apartment B is a one-bedroom residence with a walk-in closet and large deck, while Apartment C features one bedroom, lofted ceilings, a kitchen island, two energy-efficient mini-splits, and three skylights with solar-powered shades.
Additional improvements include a restored front porch, copper porch roof, copper internal gutters, a large dry basement, and a newly graveled four-car parking lot with off-street parking permits. Each apartment has its own water heater, and tenants pay electric and gas while the owner pays water and sewer.
The property is in downtown West Chester, one block from East Market Street and within walking distance of restaurants, shops, businesses, government offices, public parking, and West Chester University.
Additional improvements include a restored front porch, copper porch roof, copper internal gutters, a large dry basement, and a newly graveled four-car parking lot with off-street parking permits. Each apartment has its own water heater, and tenants pay electric and gas while the owner pays water and sewer.
The property is in downtown West Chester, one block from East Market Street and within walking distance of restaurants, shops, businesses, government offices, public parking, and West Chester University.
Key Highlights
- Approximately 2,776 SF triplex with 3 full apartments
- 1890 construction with restored hardwood floors, Victorian trim, and front porch
- Newly graveled 4‑car parking lot with off‑street parking permits
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,900
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,000
$638.0K
Cap Rate 7%
$455,714
$455.7K
Cap Rate 9%
$354,444
$354.4K
Market Conditions
NOI Build-Up for 2,776 SF
Gross rent
$53.3K $19.20/SF
− Vacancy
−$7.7K −$2.78/SF
EGI
$45.6K $16.42/SF
− OpEx
−$13.7K −$4.92/SF
NOI
$31.9K $11.49/SF
Area
Chester County, PA
Vacancy
14.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,000
Cap Rate 7%
$455,714
Cap Rate 9%
$354,444
Alternative Uses
Best Use
Multifamily LT 5
$455.7K
$398.8K – $531.7K
NOI $31,900 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$430.0K
$376.3K – $501.7K
NOI $30,101 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$841.7K
$736.5K – $981.9K
NOI $58,916 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,018
Businesses Nearby
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Business Placement
Demographics for 19380, PA
50,692
Population
21,490
Households
2.4
Avg Household Size
43
Median Age
64%
College-Educated
97%
High-School Grad
30.5 sq mi
ZIP Area
1,662
Density / Sq Mi
$122,876
Median Household Income
$69,599
Median Earnings
$1,820
Median Rent
$530,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments with updated kitchens, private outdoor areas, and dedicated off-street parking in downtown West Chester.
Where is this triplex located?
The property is located at 121 S WALNUT STREET West Chester, PA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approximately 2,776 SF triplex with 3 full apartments; 1890 construction with restored hardwood floors, Victorian trim, and front porch; Newly graveled 4‑car parking lot with off‑street parking permits
