Corner Quadplex with Unit
For Sale
$375,000
141 Washington Avenue, Downingtown, PA 19335
Detached multifamily property with varied apartment layouts, in-unit laundry, and access to Downingtown amenities and transportation.
Property Size2,400 SF
Price / SF$156.25
Days on Market148
Property Features for 141 Washington Avenue
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family / Fee Simple
Zoning
C-1
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR, 2 x studio, 1 x 2BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,694
Amenities
in-unit laundry
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Main Line
(610) 331-8504
Listed By:
Alexis B McBride · License #RS331156
(610) 331-8504
Source:
Compass
Added: Apr 6
Changed: Aug 30
Last Checked: Aug 30 at 10:22PM
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 Main Line
Investment Insights
Based on property information with market context.
This detached quadplex contains four apartments across a 2,400-square-foot building constructed in 1900. The configuration includes one studio, two one-bedroom apartments, and one two-bedroom apartment. The first-floor residence offers a flexible living room or second-bedroom arrangement, a dining area, front bedroom, full bathroom, kitchen, and in-unit laundry. A second-floor studio includes a kitchenette, while another one-bedroom apartment occupies the same level. The top-floor one-bedroom features an eat-in kitchen.
The corner property is located at 141 Washington Avenue, near Lancaster Avenue in Downingtown. Restaurants, cafes, local businesses, parks, and shopping centers including Wegmans and BJ’s are nearby. The property also provides access to public transit, Rt-322, the PA Turnpike, Exton, and West Chester. Zoning is C-1.
The corner property is located at 141 Washington Avenue, near Lancaster Avenue in Downingtown. Restaurants, cafes, local businesses, parks, and shopping centers including Wegmans and BJ’s are nearby. The property also provides access to public transit, Rt-322, the PA Turnpike, Exton, and West Chester. Zoning is C-1.
Key Highlights
- Four‑unit quadplex with 2,400 SF of building area
- Unit mix includes one studio, two 1‑bedroom apartments, and one 2‑bedroom apartment
- 1900 construction date
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
$27,579
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
7.35%
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%
$551,580
$551.6K
Cap Rate 7%
$393,986
$394.0K
Cap Rate 9%
$306,433
$306.4K
Market Conditions
NOI Build-Up for 2,400 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
$46.1K $19.20/SF
− Vacancy
−$6.7K −$2.78/SF
EGI
$39.4K $16.42/SF
− OpEx
−$11.8K −$4.92/SF
NOI
$27.6K $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 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%
$551,580
Cap Rate 7%
$393,986
Cap Rate 9%
$306,433
Alternative Uses
Best Use
Multifamily LT 5
$394.0K
$344.7K – $459.7K
NOI $27,579 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$371.8K
$325.3K – $433.7K
NOI $26,024 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$727.7K
$636.7K – $848.9K
NOI $50,936 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
947
Businesses Nearby
Explore this area
Business Placement
Demographics for 19335, PA
52,406
Population
20,276
Households
2.6
Avg Household Size
40
Median Age
62%
College-Educated
98%
High-School Grad
43.3 sq mi
ZIP Area
1,210
Density / Sq Mi
$136,839
Median Household Income
$69,850
Median Earnings
$1,647
Median Rent
$464,400
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?
Quadplex - Detached multifamily property with varied apartment layouts, in-unit laundry, and access to Downingtown amenities and transportation.
Where is this quadplex located?
The property is located at 141 Washington Avenue Downingtown, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2,400 SF of building area; Unit mix includes one studio, two 1‑bedroom apartments, and one 2‑bedroom apartment; 1900 construction date
