Three-Unit Victorian
For Sale
$950,000
121 S WALNUT Street, West Chester, PA 19380
Multi-Family, WEST CHESTER, PA
Property Size2,776 SF
Lot Size0.09 Acres
Price / SF$342.22
Days on Market32
Property Features for 121 S WALNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
4
Parking features
Parking Lot, Off Street
Fireplace
1
Elementary school district
WEST CHESTER AREA
Middle school district
WEST CHESTER AREA
High school district
WEST CHESTER AREA
Standard status
Active
Size
2,776 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
4373
Utilities
Cooling system
Heat Pump
Building Details
Year built
1890
Number of units
3
Building materials
Brick, Masonry, Stone
Architectural style
Victorian
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(610) 363-6006
Listed By:
L. Robert Frame Jr. · License #AB047095L
(484) 678-0636
Added: Sep 17
Changed: Oct 17
Last Checked: Oct 18 at 12:06AM
MLS# PACT2135516
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.
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Investment Insights
Based on property information with market context.
This 1890 Victorian triplex contains 2,776 square feet arranged as three full-floor apartments. The first-floor residence has two bedrooms, restored wood floors, a private side porch, and a gas fireplace. The second-floor apartment offers one bedroom, restored floors, and a deck. A one-bedroom third-floor unit features lofted ceilings, a kitchen island, and three skylights. The building also has a dry basement, a restored front porch, and a four-car gravel parking area.
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. Tenants pay electric and gas; the owner pays water and sewer. Each apartment has its own water heater, washer, gas dryer, and gas range. Heating and cooling include a heat pump on the first floor and split systems in the other two apartments.
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. Tenants pay electric and gas; the owner pays water and sewer. Each apartment has its own water heater, washer, gas dryer, and gas range. Heating and cooling include a heat pump on the first floor and split systems in the other two apartments.
Key Highlights
- Three full‑floor apartments totaling 2,776 square feet
- 1890 Victorian building with restored front porch and hardwood details
- Four‑car gravel parking area with off‑street parking
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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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,988
Businesses Nearby
Explore this area
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 separate apartments offer varied layouts, private outdoor areas, and individual laundry and cooking facilities.
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: Three full‑floor apartments totaling 2,776 square feet; 1890 Victorian building with restored front porch and hardwood details; Four‑car gravel parking area with off‑street parking
