Triplex with Garage
For Sale
$460,000
Pending
237 OSBORNE AVENUE, Morrisville, PA 19067
Three-apartment residential property with month-to-month leases in place.
Property Size2,300 SF
Days on Market57
Property Features for 237 OSBORNE AVENUE
General Information
Standard status
Pending
Size
2,300 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Building Details
Year Built
1927
Construction
bungalow
Listing Agency:
BHHS Fox & Roach -Yardley/Newtown
(215) 860-9300
Listed By:
Mary D Dinneen · License #RS211425L
(215) 882-3117
Source:
Cummingsrealtors
Added: Aug 12
Changed: Oct 6
Last Checked: Oct 5 at 6:30PM
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 BHHS Fox & Roach -Yardley/Newtown
Investment Insights
Based on property information with market context.
This 2,300-square-foot triplex comprises two apartments within the main house and a third apartment positioned above the garage. The property was built in 1927 and is described as being in good condition.
All three apartments have month-to-month leases in place. The property is located at 237 Osborne Avenue in Morrisville, Pennsylvania.
All three apartments have month-to-month leases in place. The property is located at 237 Osborne Avenue in Morrisville, Pennsylvania.
Key Highlights
- Three total apartments across the main house and garage
- 2,300 square feet of property size
- Third apartment located above the garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,477
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$569,540
$569.5K
Cap Rate 7%
$406,814
$406.8K
Cap Rate 9%
$316,411
$316.4K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$53.5K $23.28/SF
− Vacancy
−$1.8K −$0.77/SF
EGI
$51.8K $22.51/SF
− OpEx
−$23.3K −$10.13/SF
NOI
$28.5K $12.38/SF
Area
Bucks County, PA
Vacancy
3.30%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$569,540
Cap Rate 7%
$406,814
Cap Rate 9%
$316,411
Alternative Uses
Best Use
Apartment 5plus
$406.8K
$356.0K – $474.6K
NOI $28,477 @ 7.0% cap · market cap 6.19%
Second Best
Multifamily LT 5
$389.9K
$341.1K – $454.8K
NOI $27,290 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$697.3K
$610.2K – $813.6K
NOI $48,814 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
639
Businesses Nearby
Explore this area
Business Placement
Demographics for 19067, PA
53,153
Population
21,792
Households
2.4
Avg Household Size
44
Median Age
56%
College-Educated
97%
High-School Grad
31.5 sq mi
ZIP Area
1,687
Density / Sq Mi
$131,604
Median Household Income
$63,454
Median Earnings
$1,599
Median Rent
$483,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-apartment residential property with month-to-month leases in place.
Where is this triplex located?
The property is located at 237 OSBORNE AVENUE Morrisville, PA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Three total apartments across the main house and garage; 2,300 square feet of property size; Third apartment located above the garage
