5-Unit Apartment
New
For Sale
$900,000
198 FRANKLIN Avenue, Phoenixville, PA 19460
Multi-Family, PHOENIXVILLE, PA
Property Size2,400 SF
Lot Size0.03 Acres
Price / SF$375
Days on Market3
Property Features for 198 FRANKLIN Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Elementary school district
PHOENIXVILLE AREA
Middle school district
PHOENIXVILLE AREA
High school district
PHOENIXVILLE AREA
Standard status
Active
Size
2,400 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
6596
Utilities
Heating system
Electric (Heating), Baseboard
Building Details
Year built
1900
Number of units
1
Building materials
Stone
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Erich Beyer
(610) 731-7949
Added: Oct 14
Last Checked: Oct 16 at 2:06PM
MLS# PACT2137910
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Located at 198 Franklin Avenue in Phoenixville, this five-unit apartment building contains 2,400 square feet. Four units have been renovated, and one remains unrenovated. The stone building dates to 1900 and has electric baseboard heating, along with a basement. The parcel measures 0.0325 acres.
The property is reported at a 7.63% cap rate.
The property is reported at a 7.63% cap rate.
Key Highlights
- Five apartments in a 2,400‑square‑foot building
- Four units renovated; one remains unrenovated
- Reported 7.63% cap rate
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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Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,006
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Four apartments have been renovated, while the fifth remains unrenovated.
Where is this apartment building located?
The property is located at 198 FRANKLIN Avenue 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 apartments in a 2,400‑square‑foot building; Four units renovated; one remains unrenovated; Reported 7.63% cap rate
