Three-Unit Residential Income
For Sale
$1,249,900
216 Bloomingdale Avenue, Wayne, PA 19087
Three distinct units offer flexible living or conversion potential near the Wayne train station and local shops.
Property Size4,573 SF
Price / SF$273.32
Days on Market300
Property Features for 216 Bloomingdale Avenue
General Information
Standard status
Active
Size
4,573 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
Kurfiss Sotheby's International Realty
Listed By:
Lauren Woods · License #RS338248
(610) 649-4500
Source:
Deepcreeklake
Added: Nov 8, 2025
Changed: Sep 2
Last Checked: Sep 4 at 10:30AM
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 Kurfiss Sotheby's International Realty
Investment Insights
Based on property information with market context.
This three-unit residential property is currently configured as three separate units, each with its own 1-bath layout. Unit 1 features 2 bedrooms, Unit 2 features 3 bedrooms, and Unit 3 features 2 bedrooms, supporting a range of tenant needs within one building.
Located on Bloomingdale Avenue in Wayne, the property is described as being steps from neighborhood shops and restaurants and close to the Wayne train station. The central setting can be attractive to residents who value walkable access to daily conveniences and commuter options.
The property can appeal to buyers looking for a multi-unit setup today, with the flexibility to revisit the configuration later. The current leases are expected to support ongoing rental use, while the owner’s stated vision includes converting the home back into a single-family residence after leases expire to create a custom layout in an established, walk-to-everything area.
Located on Bloomingdale Avenue in Wayne, the property is described as being steps from neighborhood shops and restaurants and close to the Wayne train station. The central setting can be attractive to residents who value walkable access to daily conveniences and commuter options.
The property can appeal to buyers looking for a multi-unit setup today, with the flexibility to revisit the configuration later. The current leases are expected to support ongoing rental use, while the owner’s stated vision includes converting the home back into a single-family residence after leases expire to create a custom layout in an established, walk-to-everything area.
Key Highlights
- Multi‑unit property built in 1900, currently configured as three distinct units
- Unit mix includes 2BD/1BA, 3BD/1BA, and 2BD/1BA layouts
- Converted use potential: can be converted back to a single‑family residence once current leases expire
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
$50,123
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
4.01%
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%
$1,002,460
$1.0M
Cap Rate 7%
$716,043
$716.0K
Cap Rate 9%
$556,922
$556.9K
Market Conditions
NOI Build-Up for 4,573 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
$82.3K $18.00/SF
− Vacancy
−$10.7K −$2.34/SF
EGI
$71.6K $15.66/SF
− OpEx
−$21.5K −$4.70/SF
NOI
$50.1K $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%
$1,002,460
Cap Rate 7%
$716,043
Cap Rate 9%
$556,922
Alternative Uses
Best Use
Multifamily LT 5
$716.0K
$626.5K – $835.4K
NOI $50,123 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$654.9K
$573.0K – $764.1K
NOI $45,843 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,054 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,526
Businesses Nearby
Explore this area
Business Placement
Demographics for 19087, PA
33,501
Population
12,829
Households
2.6
Avg Household Size
40
Median Age
78%
College-Educated
97%
High-School Grad
15.6 sq mi
ZIP Area
2,148
Density / Sq Mi
$165,451
Median Household Income
$71,234
Median Earnings
$2,130
Median Rent
$693,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three distinct units offer flexible living or conversion potential near the Wayne train station and local shops.
Where is this triplex located?
The property is located at 216 Bloomingdale Avenue Wayne, PA.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: Multi‑unit property built in 1900, currently configured as three distinct units; Unit mix includes 2BD/1BA, 3BD/1BA, and 2BD/1BA layouts; Converted use potential: can be converted back to a single‑family residence once current leases expire
