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 Changed: Oct 23 Last Checked: Oct 23 at 3:06PM

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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 triplex in Ridley Park contains three apartments with five, three, and two bedrooms. The five-bedroom unit is vacant and has received fresh paint and new carpet; the other two apartments are rented. A detached garage is also part of the property, along with a shared laundry room and basement. The Colonial-style building was constructed in 1900 and has block construction.

The property occupies a 0.32-acre lot at 245 E Chester Pike. Recent improvements include a new roof and driveway in 2023, followed by a water heater replacement in 2024. The combination of three apartment layouts, shared laundry, and garage space defines the property's residential configuration.

Key Highlights

• Three apartments with 5-, 3-, and 2‑bedroom layouts
• 3,879 square feet on a 0.32‑acre lot
• Five‑bedroom apartment is vacant; two other apartments are rented

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

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Lease Details

3

Residential units

Multi-tenant

Tenancy

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?

Triplex - A vacant five-bedroom apartment and two occupied units provide a mix of unit sizes within the property.

Where is this triplex 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 apartments with 5-, 3-, and 2‑bedroom layouts; 3,879 square feet on a 0.32‑acre lot; Five‑bedroom apartment is vacant; two other apartments are rented