5-Unit Apartment
198 Franklin Ave, Phoenixville, PA 19460
For Sale
$900,000
Four apartments have been renovated, while one remains available for updates.
Property Size2,400 SF
Price / SF$375
Days on Market24
Property Features for 198 Franklin Ave
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Financials
Cap Rate
Gross Income
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Buildings
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Erich Beyer
(610) 731-7949
Source:
Exprealty
Added: Oct 15
Changed: Nov 5
Last Checked: Nov 6 at 10:12AM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
This five-unit apartment property in Phoenixville contains 2,400 square feet and dates to 1900. Four apartments have been renovated; the fifth has not yet been updated. The reported capitalization rate is 7.63%.
Key Highlights
- Five apartment units
- 2,400 square feet
- Four units renovated; one unit remains unrenovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,024
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$520,480
$520.5K
Cap Rate 7%
$371,771
$371.8K
Cap Rate 9%
$289,156
$289.2K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$51.3K $21.36/SF
− Vacancy
−$3.9K −$1.64/SF
EGI
$47.3K $19.72/SF
− OpEx
−$21.3K −$8.87/SF
NOI
$26.0K $10.84/SF
Area
Chester County, PA
Vacancy
7.70%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$520,480
Cap Rate 7%
$371,771
Cap Rate 9%
$289,156
Alternative Uses
Best Use
Apartment 5plus
$371.8K
$325.3K – $433.7K
NOI $26,024 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$727.7K
$636.7K – $848.9K
NOI $50,936 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,006
Businesses Nearby
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Business Placement
Demographics for 19460, PA
43,611
Population
18,881
Households
2.3
Avg Household Size
40
Median Age
58%
College-Educated
96%
High-School Grad
34.5 sq mi
ZIP Area
1,264
Density / Sq Mi
$120,472
Median Household Income
$65,879
Median Earnings
$1,622
Median Rent
$426,000
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Chester County, PA
Properties on Market for Apartment buildings in Chester County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Four apartments have been renovated, while one remains available for updates.
Where is this apartment building located?
The property is located at 198 Franklin Ave Phoenixville, PA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Five apartment units; 2,400 square feet; Four units renovated; one unit remains unrenovated
