Renovated 7-Unit Apartment
For Sale
$700,000
304 E 9TH STREET, Chester, PA 19013
Fully occupied multifamily property with updated building systems, varied unit layouts, and on-site parking.
Property Size4,084 SF
Price / SF$171.40
Days on Market66
Property Features for 304 E 9TH STREET
General Information
Standard status
Active
Size
4,084 SF
Property subtype
Commercial
Building Details
Year Built
1925
Listing Agency:
VRA Realty
(484) 800-1777
Listed By:
Brady M Carroll · License #RS318466
(610) 291-9895
Source:
Cummingsrealtors
Added: Aug 9
Changed: Oct 13
Last Checked: Oct 12 at 7:42PM
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 VRA Realty
Investment Insights
Based on property information with market context.
This 7-unit apartment building contains six one-bedroom, one-bath residences and one studio within 4,084 square feet. The property underwent a full gut renovation in 2014, including replacement of the electrical, plumbing, and HVAC systems, along with substantial capital improvements. Further updates have been completed since 2021, and the building is fully occupied.
The property includes four off-street parking spaces, supplemented by non-metered street parking. It is located at 304 East 9th Street in Chester, Pennsylvania, and carries C-1R zoning. Constructed in 1925, the building combines a renovated interior and updated core systems with a compact multifamily configuration.
The property includes four off-street parking spaces, supplemented by non-metered street parking. It is located at 304 East 9th Street in Chester, Pennsylvania, and carries C-1R zoning. Constructed in 1925, the building combines a renovated interior and updated core systems with a compact multifamily configuration.
Key Highlights
- 7‑unit apartment building with six one‑bedroom/one‑bath units and one studio
- 4,084 SF building fully gut‑renovated in 2014
- New electrical, plumbing, and HVAC installed during the 2014 renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,940
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$818,800
$818.8K
Cap Rate 7%
$584,857
$584.9K
Cap Rate 9%
$454,889
$454.9K
Market Conditions
NOI Build-Up for 4,084 SF
Gross rent
$86.3K $21.12/SF
− Vacancy
−$11.8K −$2.89/SF
EGI
$74.4K $18.23/SF
− OpEx
−$33.5K −$8.20/SF
NOI
$40.9K $10.02/SF
Area
Delaware County, PA
Vacancy
13.70%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$818,800
Cap Rate 7%
$584,857
Cap Rate 9%
$454,889
Alternative Uses
Best Use
Apartment 5plus
$584.9K
$511.8K – $682.3K
NOI $40,940 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,676 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,674
Businesses Nearby
Explore this area
Business Placement
Demographics for 19013, PA
34,252
Population
15,664
Households
2.2
Avg Household Size
34
Median Age
13%
College-Educated
86%
High-School Grad
5.6 sq mi
ZIP Area
6,116
Density / Sq Mi
$39,416
Median Household Income
$31,668
Median Earnings
$1,083
Median Rent
$85,200
Median Home Value
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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?
Apartment building - Fully occupied multifamily property with updated building systems, varied unit layouts, and on-site parking.
Where is this apartment building located?
The property is located at 304 E 9TH STREET Chester, PA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 7‑unit apartment building with six one‑bedroom/one‑bath units and one studio; 4,084 SF building fully gut‑renovated in 2014; New electrical, plumbing, and HVAC installed during the 2014 renovation
