Three-Unit Triplex with Vacant
For Sale
$380,000
2124 W 3rd St, Chester, PA 19013
Two units are occupied, while a vacant three-bedroom unit is available for leasing or personal occupancy.
Property Size2,128 SF
Price / SF$178.57
Days on Market18
Property Features for 2124 W 3rd St
General Information
Standard status
Active
Size
2,128 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1920
Listing Agency:
Realty One Group Restore - BlueBell
Listed By:
judah k briggs · License #RS380158
(215) 347-4684
Source:
Upgradebymichaud
Added: Aug 16
Changed: Aug 28
Last Checked: Sep 1 at 11:02PM
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 Realty One Group Restore - BlueBell
Investment Insights
Based on property information with market context.
This 2,128-square-foot triplex, built in 1920, contains three residential units. Two units are occupied, and the vacant three-bedroom unit provides flexibility for a new occupant or additional leasing activity.
The property is located on W 3rd St in Chester, with access to I-95, Route 13, public transportation, and local amenities. Its three-unit configuration supports both continued rental use and an owner-occupancy strategy.
The property is located on W 3rd St in Chester, with access to I-95, Route 13, public transportation, and local amenities. Its three-unit configuration supports both continued rental use and an owner-occupancy strategy.
Key Highlights
- Three‑unit triplex with 2,128 SF of property size
- Two of three units are currently occupied
- Vacant 3‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,324
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$466,480
$466.5K
Cap Rate 7%
$333,200
$333.2K
Cap Rate 9%
$259,156
$259.2K
Market Conditions
NOI Build-Up for 2,128 SF
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.
Gross rent
$38.3K $18.00/SF
− Vacancy
−$5.0K −$2.34/SF
EGI
$33.3K $15.66/SF
− OpEx
−$10.0K −$4.70/SF
NOI
$23.3K $10.96/SF
Area
Delaware County, PA
Vacancy
13.01%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$466,480
Cap Rate 7%
$333,200
Cap Rate 9%
$259,156
Alternative Uses
Best Use
Multifamily LT 5
$333.2K
$291.6K – $388.7K
NOI $23,324 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$304.7K
$266.7K – $355.5K
NOI $21,332 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$645.2K
$564.5K – $752.7K
NOI $45,163 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Explore this area
Business Placement
Demographics for 19013, PA
34,252
Population
15,664
Households
2.2
Avg Household Size
34
Median Age
13%
College-Educated
86%
High-School Grad
5.6 sq mi
ZIP Area
6,116
Density / Sq Mi
$39,416
Median Household Income
$31,668
Median Earnings
$1,083
Median Rent
$85,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Two units are occupied, while a vacant three-bedroom unit is available for leasing or personal occupancy.
Where is this triplex located?
The property is located at 2124 W 3rd St Chester, PA.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Three‑unit triplex with 2,128 SF of property size; Two of three units are currently occupied; Vacant 3‑bedroom unit
