Turnkey Duplex with Two
1504 WILLOW AVENUE Elkins Park, PA 19027
For Sale
$375,000
A turnkey duplex with a 1-bedroom and a 3-bedroom unit, offering ready-to-rent income potential.
Property Size1,412 SF
Price / SF$265.58
Days on Market11
Property Features for 1504 WILLOW AVENUE
General Information
Standard status
Active
Size
1,412 SF
Property subtype
Duplex
Building Details
Year Built
1940
Listing Agency:
Coldwell Banker Hearthside Realtors
(215) 219-2785
Listed By:
Robert Quattlebaum · License #SL3522225
(215) 219-2785
Source:
Cummingsrealtors
Added: Jul 19
Changed: Jul 26
Last Checked: Jul 28 at 5:31AM
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 Hearthside Realtors
Investment Insights
Based on property information with market context.
This turnkey duplex at 1504 Willow Avenue features two residential units: a 1-bedroom, 1-bath unit and a 3-bedroom, 1-bath unit. The property is described as well-kept and designed for straightforward operation as a multi-family home.
The home is located in the historic section of LaMott in Cheltenham Township. It is minutes from the Cheltenham Mall Shopping Center, which includes a variety of restaurants and stores such as Target, Chipotle, Chilis, Home Depot, Shop Rite, and LA Fitness.
For commuters, SEPTA bus lines are within walking distance, and the Melrose Park and Jenkintown train stations are close by.
The home is located in the historic section of LaMott in Cheltenham Township. It is minutes from the Cheltenham Mall Shopping Center, which includes a variety of restaurants and stores such as Target, Chipotle, Chilis, Home Depot, Shop Rite, and LA Fitness.
For commuters, SEPTA bus lines are within walking distance, and the Melrose Park and Jenkintown train stations are close by.
Key Highlights
- Turnkey duplex built in 1940 with a 1 bed, 1 bath unit and a 3 bed, 1 bath unit
- Well‑kept multi‑family property with ready‑to‑rent income potential per the listing
- Located in the historic section of LaMott in Cheltenham Township
Financial Insights For Multifamily LT 5
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 | $31.3k | $22.20 |
| − Vacancy | −$2.0k | −$1.44 |
| EGI | $29.3k | $20.76 |
| − OpEx | −$8.8k | −$6.23 |
| NOI | $20.5k | $14.53 |
1,412 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$293.1K
$256.5K – $341.9K
NOI $20,516 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$272.5K
$238.5K – $318.0K
NOI $19,077 @ 7.0% cap · market cap 5.09%
Theoretical Best
Specialty Retail
$812.2K
$710.7K – $947.6K
NOI $56,854 @ 7.0% cap · market cap 15.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - A turnkey duplex with a 1-bedroom and a 3-bedroom unit, offering ready-to-rent income potential.
Where is this duplex located?
The property is located at 1504 WILLOW AVENUE Elkins Park, 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: Turnkey duplex built in 1940 with a 1 bed, 1 bath unit and a 3 bed, 1 bath unit; Well‑kept multi‑family property with ready‑to‑rent income potential per the listing; Located in the historic section of LaMott in Cheltenham Township
