Fully Leased 5-Unit Apartment
For Sale
$725,000
2040 CREEK ROAD, Glenmoore, PA 19343
Five fully leased units feature separate electric meters and off-street parking along Creek Road.
Property Size5,833 SF
Price / SF$124.29
Days on Market96
Property Features for 2040 CREEK ROAD
General Information
Standard status
Active
Size
5,833 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
5
Building Details
Year Built
1900
Listing Agency:
Keller Williams Platinum Realty - Wyomissing
(610) 898-1441
Listed By:
Susan F McFadden · License #RS297203
(484) 364-1106
Source:
Cummingsrealtors
Added: Jul 13
Changed: Oct 15
Last Checked: Oct 16 at 8:59AM
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 Platinum Realty - Wyomissing
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Investment Insights
Based on property information with market context.
This fully leased 5-unit apartment building offers a mix of two 1-bedroom units, two 2-bedroom units, and one 3-bedroom unit. The property has been well cared for and includes ample off-street parking. Separate electric meters help simplify building-level utilities management. Unit #3 has been recently updated.
The building is located along historic Creek Road in Wallace Township and is positioned for convenient access to shopping, restaurants, and public transportation. Downingtown Schools.
For additional details on current income, operating expenses, and to arrange a private tour, contact the listing agent.
The building is located along historic Creek Road in Wallace Township and is positioned for convenient access to shopping, restaurants, and public transportation. Downingtown Schools.
For additional details on current income, operating expenses, and to arrange a private tour, contact the listing agent.
Key Highlights
- Fully leased 5‑unit multi‑family property in Wallace Township along historic Creek Road
- Unit mix includes two 1‑bedroom units, two 2‑bedroom units, and one 3‑bedroom unit
- Separate electric meters for the units help simplify management
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,250
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,265,000
$1.3M
Cap Rate 7%
$903,571
$903.6K
Cap Rate 9%
$702,778
$702.8K
Market Conditions
NOI Build-Up for 5,833 SF
Gross rent
$124.6K $21.36/SF
− Vacancy
−$9.6K −$1.64/SF
EGI
$115.0K $19.72/SF
− OpEx
−$51.7K −$8.87/SF
NOI
$63.2K $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%
$1,265,000
Cap Rate 7%
$903,571
Cap Rate 9%
$702,778
Alternative Uses
Best Use
Apartment 5plus
$903.6K
$790.6K – $1.05M
NOI $63,250 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,795 @ 7.0% cap · market cap 17.08%
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
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 19343, PA
8,711
Population
3,217
Households
2.7
Avg Household Size
43
Median Age
61%
College-Educated
97%
High-School Grad
27.6 sq mi
ZIP Area
316
Density / Sq Mi
$161,964
Median Household Income
$64,692
Median Earnings
$1,816
Median Rent
$543,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Five fully leased units feature separate electric meters and off-street parking along Creek Road.
Where is this apartment building located?
The property is located at 2040 CREEK ROAD Glenmoore, PA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Fully leased 5‑unit multi‑family property in Wallace Township along historic Creek Road; Unit mix includes two 1‑bedroom units, two 2‑bedroom units, and one 3‑bedroom unit; Separate electric meters for the units help simplify management
