5-Unit Apartment
For Sale
$400,000
1301 W 3rd St, Chester, PA 19013
Built in 1941, this Chester property is offered on an as-is basis.
Property Size2,380 SF
Price / SF$168.07
Days on Market20
Property Features for 1301 W 3rd St
General Information
Standard status
Active
Size
2,380 SF
Additional Details
Multifamily Units
5
Building Details
Year Built
1941
Listing Agency:
Keller Williams Realty
(215) 607-6007
Listed By:
Ronald W Halbruner Jr. · License #RS341208
Source:
Lgagne
Added: Aug 11
Changed: Aug 29
Last Checked: Aug 25 at 5:01AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Located at 1301 W 3rd St in Chester, Pennsylvania, this multifamily property contains five apartment units within a building constructed in 1941. The listed property size is 2,380.
The offering is for sale on an as-is basis, making the existing condition a central consideration for prospective purchasers. The address places the property in Chester, PA 19013.
The offering is for sale on an as-is basis, making the existing condition a central consideration for prospective purchasers. The address places the property in Chester, PA 19013.
Key Highlights
- Five apartment units
- Constructed in 1941
- Listed property size: 2,380
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
$23,859
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
5.96%
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%
$477,180
$477.2K
Cap Rate 7%
$340,843
$340.8K
Cap Rate 9%
$265,100
$265.1K
Market Conditions
NOI Build-Up for 2,380 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
$50.3K $21.12/SF
− Vacancy
−$6.9K −$2.89/SF
EGI
$43.4K $18.23/SF
− OpEx
−$19.5K −$8.20/SF
NOI
$23.9K $10.02/SF
Area
Delaware County, PA
Vacancy
13.70%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
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%
$477,180
Cap Rate 7%
$340,843
Cap Rate 9%
$265,100
Alternative Uses
Best Use
Apartment 5plus
$340.8K
$298.2K – $397.7K
NOI $23,859 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$721.6K
$631.4K – $841.9K
NOI $50,511 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 19013, PA
34,252
Population
15,664
Households
2.2
Avg Household Size
34
Median Age
13%
College-Educated
86%
High-School Grad
5.6 sq mi
ZIP Area
6,116
Density / Sq Mi
$39,416
Median Household Income
$31,668
Median Earnings
$1,083
Median Rent
$85,200
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?
Apartment building - Built in 1941, this Chester property is offered on an as-is basis.
Where is this apartment building located?
The property is located at 1301 W 3rd St Chester, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Five apartment units; Constructed in 1941; Listed property size: 2,380
