Building Details

Year Built 1900

Listing Agency: Realty One Group Exclusive Show Phone

Listed By: William Macfarland · License #RS346053 Show Phone

Source: Cummingsrealtors

Added: Sep 6 Changed: Oct 29 Last Checked: Oct 28 at 7:50AM

Report an Issue

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 Exclusive

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 4-unit multifamily property in Cheltenham Township includes a 1-bedroom/1.5-bath unit, a studio with 1 bath, a 2-bedroom/1-bath unit, and a 1-bedroom/1-bath unit. The 2,814-square-foot building was constructed in 1900 and has received extensive interior and exterior improvements.

Renovations include new kitchens with appliances, cabinets, and countertops; updated bathrooms; refinished hardwood floors; exposed wood details; fresh interior paint; and completed repairs and upgrades. HVAC systems and ductwork were overhauled for all units. Exterior work includes paint, shutters, repairs, and other updates. Roof replacement and repair work has also been completed.

Parking is available both off street and on street. The property is located at 220 Central Avenue in Cheltenham, PA 19012.

Key Highlights

• Four‑unit multifamily property with 1‑bedroom, studio, and 2‑bedroom layouts
• Unit mix includes 1 bedroom/1.5 bath, studio/1 bath, 2 bedroom/1 bath, and 1 bedroom/1 bath
• 2,814 SF building constructed in 1900

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,887

Cap Rate

6.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$817,740 $817.7K

Cap Rate 7%

$584,100 $584.1K

Cap Rate 9%

$454,300 $454.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,814 SF

Gross rent

$62.5K $22.20/SF

− Vacancy

−$4.1K −$1.44/SF

EGI

$58.4K $20.76/SF

− OpEx

−$17.5K −$6.23/SF

NOI

$40.9K $14.53/SF

Area

Montgomery County, PA

Vacancy

6.50%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$817,740

Cap Rate 7%

$584,100

Cap Rate 9%

$454,300

Alternative Uses

Best Use

Multifamily LT 5

$584.1K

$511.1K – $681.5K (±1% cap)

NOI $40,887 @ 7.0% cap · market cap 6.54%

Second Best

Apartment 5plus

$543.1K

$475.2K – $633.6K (±1% cap)

NOI $38,018 @ 7.0% cap · market cap 6.08%

Theoretical Best

Specialty Retail

$1.62M

$1.42M – $1.89M (±1% cap)

NOI $113,305 @ 7.0% cap · market cap 18.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

1,604

Businesses Nearby

Explore this area Business Placement

Demographics for 19012, PA

6,699

Population

2,314

Households

2.9

Avg Household Size

40

Median Age

43%

College-Educated

90%

High-School Grad

1.7 sq mi

ZIP Area

3,941

Density / Sq Mi

$117,614

Median Household Income

$53,216

Median Earnings

$1,226

Median Rent

$320,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Quadplex - Updated kitchens, baths, HVAC systems, and finishes support flexible multifamily occupancy.

Where is this quadplex located?

The property is located at 220 CENTRAL AVENUE Cheltenham, PA.

What is the asking price?

The asking price for this property is $625,000.

What are key features of this property?

This property features: Four‑unit multifamily property with 1‑bedroom, studio, and 2‑bedroom layouts; Unit mix includes 1 bedroom/1.5 bath, studio/1 bath, 2 bedroom/1 bath, and 1 bedroom/1 bath; 2,814 SF building constructed in 1900