Building Details

Year built 1900

Number of units 3

Building materials Block

Architectural style Colonial

Listing Agency: Keller Williams Real Estate-Montgomeryville · Keller Williams Realty b***@kw.com Show Phone

Listed By: Erin M. Thompson · License #AB068517 Show Phone

Added: Oct 17 Last Checked: Oct 18 at 6:06AM

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MLS# PADE2125644

Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This 3,879-square-foot multifamily property contains three units with a 5-bedroom, 3-bedroom, and 2-bedroom layout. The five-bedroom unit is vacant and has received fresh paint and new carpeting; the other two units are occupied. A common laundry room serves the residents, and the property also includes a detached garage. The building dates to 1900 and has block construction, a Colonial style, and a basement. The parcel measures 0.32 acres.

Roof and driveway work was completed in 2023, followed by installation of a new water heater in 2024. The detached garage is rented separately. The property is in Ridley Park, Pennsylvania.

Key Highlights

• Three units with 5‑bedroom, 3‑bedroom, and 2‑bedroom layouts
• 3,879 square feet on a 0.32‑acre parcel
• Vacant five‑bedroom unit has fresh paint and new carpeting

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,517

Cap Rate

7.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$850,340 $850.3K

Cap Rate 7%

$607,386 $607.4K

Cap Rate 9%

$472,411 $472.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,879 SF

Gross rent

$69.8K $18.00/SF

− Vacancy

−$9.1K −$2.34/SF

EGI

$60.7K $15.66/SF

− OpEx

−$18.2K −$4.70/SF

NOI

$42.5K $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 Rate 5%

$850,340

Cap Rate 7%

$607,386

Cap Rate 9%

$472,411

Alternative Uses

Best Use

Multifamily LT 5

$607.4K

$531.5K – $708.6K (±1% cap)

NOI $42,517 @ 7.0% cap · market cap 7.39%

Second Best

Apartment 5plus

$555.5K

$486.1K – $648.1K (±1% cap)

NOI $38,885 @ 7.0% cap · market cap 6.76%

Theoretical Best

Office A

$1.18M

$1.03M – $1.37M (±1% cap)

NOI $82,325 @ 7.0% cap · market cap 14.32%

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

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Spa & Massage Center Daycare Center Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

797

Businesses Nearby

Explore this area Business Placement

Demographics for 19078, PA

11,453

Population

4,969

Households

2.3

Avg Household Size

41

Median Age

30%

College-Educated

96%

High-School Grad

2.0 sq mi

ZIP Area

5,727

Density / Sq Mi

$93,456

Median Household Income

$53,377

Median Earnings

$1,318

Median Rent

$244,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - Three residences include a five-bedroom vacancy, two occupied units, and shared laundry facilities.

Where is this multifamily property located?

The property is located at 245 E CHESTER Pike Ridley Park, PA.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: Three units with 5‑bedroom, 3‑bedroom, and 2‑bedroom layouts; 3,879 square feet on a 0.32‑acre parcel; Vacant five‑bedroom unit has fresh paint and new carpeting