Three-Unit Residential Income
216 Bloomingdale Avenue Wayne, PA 19087
216 Bloomingdale Avenue, Wayne, PA, 19087
$1,249,900
For Sale
$1,249,900
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 Market193
Property Features for 216 Bloomingdale Avenue
General Information
- Standard status
- Active
- Size
- 4,573 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing Agency
Kurfiss Sotheby's International Realty
Listed by
Lauren Woods
Source
Deepcreeklake
Added: Jan 9 Updated: Jul 10 at 1:49 pm Checked: Jul 20 at 5:29 am
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
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $82.3k | $18.00 |
| − Vacancy | −$10.7k | −$2.34 |
| EGI | $71.6k | $15.66 |
| − OpEx | −$21.5k | −$4.70 |
| NOI | $50.1k | $10.96 |
4,573 SF · lease $18.00/SF/yr · vacancy 13.01% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
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
