Multifamily Cottage
514-530 Gravel Pike Collegeville, PA 19426
For Sale
$2,850,000
Twelve-unit cottage and apartment cluster on the Perkiomen Creek with separately metered electric and in-unit laundry.
Property Size10,580 SF
Lot Size2.81 Acres
Price / SF$269.38
Days on Market447
Property Features for 514-530 Gravel Pike
General Information
- Standard status
- Active
- Size
- 10,580 SF
- Lot size
- 2.81 Acres
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1940
Listing Agency:
BHHS Fox & Roach Wayne-Devon
(610) 804-9716
Listed By:
Robert Kline · License #AB060459L
(610) 804-9716
Source:
Compass
Added: May 3, 2025
Changed: Jul 23
Last Checked: Jul 23 at 9:59AM
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 BHHS Fox & Roach Wayne-Devon
Investment Insights
Based on property information with market context.
Perkiomen Creek Village is a 12-unit cluster of cottage homes and apartments arranged across eight buildings. The community includes six single homes, a twin/duplex, and a four-unit main house. All units are separately metered with 100-amp electric service, with gas heat and hot water throughout most of the complex (one unit uses oil heat, and four units have electric hot water). Each unit includes a washer and dryer, dishwasher, gas range, and refrigerator, with private basements available for the cottages, waterfront house, and twin/duplex units (the quad has a shared basement). The property is served by public sewer and on-site well water.
The village is positioned on the banks of the Perkiomen Creek with private access to the Perkiomen Trail. The listing notes the property is across from Perkiomen Valley High School, and school district bus pickup is in front of the property.
Renovations and updates include complete renovations of the six single homes in 2023, with granite counters, stainless-steel appliances, new cabinets, LVP flooring, and new HVAC with central air. The twin/duplex units were repainted and received LVP flooring in June 2025.
The village is positioned on the banks of the Perkiomen Creek with private access to the Perkiomen Trail. The listing notes the property is across from Perkiomen Valley High School, and school district bus pickup is in front of the property.
Renovations and updates include complete renovations of the six single homes in 2023, with granite counters, stainless-steel appliances, new cabinets, LVP flooring, and new HVAC with central air. The twin/duplex units were repainted and received LVP flooring in June 2025.
Key Highlights
- 12‑unit cottage and apartment cluster in Perkiomen Creek Village across 2.81 acres with units in 8 buildings
- 7.16% CAP Rate; complex is 100% leased with separate leases for tenants
- Separately metered 100 amp electric plus gas heat and hot water; 1 unit has oil heat and 4 units have electric hot water
Financial Insights For Apartment 5plus
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 | $276.8k | $26.16 |
| − Vacancy | −$16.9k | −$1.60 |
| EGI | $259.9k | $24.56 |
| − OpEx | −$117.0k | −$11.05 |
| NOI | $142.9k | $13.51 |
10,580 SF · lease $26.16/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.04M
$1.79M – $2.38M
NOI $142,939 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.09M
$5.33M – $7.10M
NOI $426,001 @ 7.0% cap · market cap 14.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Twelve-unit cottage and apartment cluster on the Perkiomen Creek with separately metered electric and in-unit laundry.
Where is this apartment building located?
The property is located at 514-530 Gravel Pike Collegeville, PA.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 12‑unit cottage and apartment cluster in Perkiomen Creek Village across 2.81 acres with units in 8 buildings; 7.16% CAP Rate; complex is 100% leased with separate leases for tenants; Separately metered 100 amp electric plus gas heat and hot water; 1 unit has oil heat and 4 units have electric hot water
