Turnkey Duplex with Two
For Sale
$349,999
1504 WILLOW AVENUE, Elkins Park, PA 19027
A turnkey duplex with a 1-bedroom and a 3-bedroom unit, offering ready-to-rent income potential.
Property Size1,412 SF
Price / SF$247.87
Days on Market103
Property Features for 1504 WILLOW AVENUE
General Information
Standard status
Active
Size
1,412 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
Coldwell Banker Hearthside Realtors
(215) 379-2002
Listed By:
Robert Quattlebaum · License #SL3522225
(215) 219-2785
Source:
Cummingsrealtors
Added: Jul 19
Changed: Oct 29
Last Checked: Oct 28 at 7:13AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$20,516
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$410,320
$410.3K
Cap Rate 7%
$293,086
$293.1K
Cap Rate 9%
$227,956
$228.0K
Market Conditions
NOI Build-Up for 1,412 SF
Gross rent
$31.3K $22.20/SF
− Vacancy
−$2.0K −$1.44/SF
EGI
$29.3K $20.76/SF
− OpEx
−$8.8K −$6.23/SF
NOI
$20.5K $14.53/SF
Area
Montgomery County, PA
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$410,320
Cap Rate 7%
$293,086
Cap Rate 9%
$227,956
Alternative Uses
Best Use
Multifamily LT 5
$293.1K
$256.5K – $341.9K
NOI $20,516 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$272.5K
$238.5K – $318.0K
NOI $19,077 @ 7.0% cap · market cap 5.45%
Theoretical Best
Specialty Retail
$812.2K
$710.7K – $947.6K
NOI $56,854 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
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Business Placement
Demographics for 19027, PA
19,170
Population
8,550
Households
2.2
Avg Household Size
43
Median Age
56%
College-Educated
97%
High-School Grad
3.9 sq mi
ZIP Area
4,915
Density / Sq Mi
$105,190
Median Household Income
$52,970
Median Earnings
$1,439
Median Rent
$348,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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 $349,999.
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
