Three-Unit Multifamily Property with
For Sale
$565,000
253 W Lancaster Ave, Downingtown, PA 19335
Multifamily property with three apartments plus a garage featuring an electric loft area.
Property Size2,510 SF
Price / SF$225.10
Days on Market85
Property Features for 253 W Lancaster Ave
General Information
Standard status
Active
Size
2,510 SF
Total Parking Spaces
2
Property subtype
Residential Income
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,735
Listing Agency:
RE/MAX Action Associates
(610) 656-5646
Listed By:
Jamie Wagner · License #RS218677L
(610) 656-5646
Source:
Exprealty
Added: Jun 7
Changed: Aug 29
Last Checked: Aug 29 at 6:32PM
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 RE/MAX Action Associates
Investment Insights
Based on property information with market context.
This three-unit multifamily property in Downingtown Borough includes three separate two-bedroom, one-bath apartments. One residence occupies the main level, while the remaining apartments are located on the second floor and in the balance of the building. A two-car garage includes a loft area with electric service, offering the possibility of an additional rentable area.
The property is located along W. Lancaster Avenue at 253 W. Lancaster Ave in Downingtown, Pennsylvania. Shopping, dining, major roadways, and the Downingtown Train Station are identified as nearby conveniences. The property also offers the option to convert the existing multifamily configuration into a single-family residence.
The property is located along W. Lancaster Avenue at 253 W. Lancaster Ave in Downingtown, Pennsylvania. Shopping, dining, major roadways, and the Downingtown Train Station are identified as nearby conveniences. The property also offers the option to convert the existing multifamily configuration into a single-family residence.
Key Highlights
- Three apartments, each with 2 bedrooms and 1 bath
- Two‑car garage with loft area and electric service
- Located along W. Lancaster Avenue in Downingtown Borough
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,843
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$576,860
$576.9K
Cap Rate 7%
$412,043
$412.0K
Cap Rate 9%
$320,478
$320.5K
Market Conditions
NOI Build-Up for 2,510 SF
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.
Gross rent
$48.2K $19.20/SF
− Vacancy
−$7.0K −$2.78/SF
EGI
$41.2K $16.42/SF
− OpEx
−$12.4K −$4.92/SF
NOI
$28.8K $11.49/SF
Area
Chester County, PA
Vacancy
14.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$576,860
Cap Rate 7%
$412,043
Cap Rate 9%
$320,478
Alternative Uses
Best Use
Multifamily LT 5
$412.0K
$360.5K – $480.7K
NOI $28,843 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$388.8K
$340.2K – $453.6K
NOI $27,217 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$761.0K
$665.9K – $887.8K
NOI $53,270 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
947
Businesses Nearby
Explore this area
Business Placement
Demographics for 19335, PA
52,406
Population
20,276
Households
2.6
Avg Household Size
40
Median Age
62%
College-Educated
98%
High-School Grad
43.3 sq mi
ZIP Area
1,210
Density / Sq Mi
$136,839
Median Household Income
$69,850
Median Earnings
$1,647
Median Rent
$464,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property with three apartments plus a garage featuring an electric loft area.
Where is this triplex located?
The property is located at 253 W Lancaster Ave Downingtown, PA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Three apartments, each with 2 bedrooms and 1 bath; Two‑car garage with loft area and electric service; Located along W. Lancaster Avenue in Downingtown Borough
