Historic Brick Multi-Family
32 N 3RD Avenue Coatesville, PA 19320
32 N 3RD Avenue, Coatesville, PA, 19320
$1,200,000
For Sale
Under Contract
$1,200,000
MULTI_FAMILY - Colonial - COATESVILLE, PA
Property Size3,696 SF
Lot Size0.09 Acres
Price / SF$324.68
Days on Market48
Property Features for 32 N 3RD Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active Under Contract
- Size
- 3,696 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Annual Amount
- 15251
Utilities
- Heating system
- Baseboard, Electric (Heating)
Building Details
- Year built
- 1920
- Number of units
- 4
- Building materials
- Brick, Stone
- Architectural style
- Colonial
Listing Agency
RE/MAX Action Associates
(610) 363-2001
403 Lincoln Highway unit: 101, Exton, PA
Listed by
John Guerrera · License #AB061749L
(610) 909-0975
Added: Jun 1 Checked: Jul 18 at 3:06 pm
MLS# PACT2126406
Listing URL
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.
Investment Insights
Based on property information with market context.
Historic “Nagle” Building, formerly the Old Washington Firehouse, offering 12 residential units in an all-brick setting. The property’s units are described as spacious and updated throughout, including kitchens, appliances, bathrooms, flooring, newer windows, a newer roof, and newer electrical. Unit mix includes one 1-bedroom, four 2-bedroom, and seven 3-bedroom apartments. E-I kitchens, large living rooms, spacious bedrooms, and well-appointed baths are noted for all units. Three vacant units are ready to be rented, providing immediate leasing opportunity.
The building is positioned for convenient access to the surrounding Coatesville area and beyond, with downtown destinations and major routes referenced in the remarks. It is noted as walking distance to the New Coatesville train station, and close to Route 30 Bypass and Route 202. The seller also highlights proximity to restaurants, shopping, and multiple historic attractions.
This asset is well suited for an investor seeking a value-add-to-turned-key approach within a small multi-family format, supported by documented updates and current city inspections through 12-31-26. With three units available now and strong unit breadth across 1-, 2-, and 3-bedroom layouts, it can appeal to operators aiming to stabilize occupancy while maintaining a consistent, residential income strategy.
The building is positioned for convenient access to the surrounding Coatesville area and beyond, with downtown destinations and major routes referenced in the remarks. It is noted as walking distance to the New Coatesville train station, and close to Route 30 Bypass and Route 202. The seller also highlights proximity to restaurants, shopping, and multiple historic attractions.
This asset is well suited for an investor seeking a value-add-to-turned-key approach within a small multi-family format, supported by documented updates and current city inspections through 12-31-26. With three units available now and strong unit breadth across 1-, 2-, and 3-bedroom layouts, it can appeal to operators aiming to stabilize occupancy while maintaining a consistent, residential income strategy.
Key Highlights
- Historic Nagle Building, formerly the Old Washington Firehouse (built 1920) with brick and stone exterior
- 12 residential units: 1 one‑bedroom, 4 two‑bedroom, and 7 three‑bedroom units
- Updates include newer windows, newer roof, and electrical, plus kitchen, appliance, bathroom, and flooring updates
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.9k | $21.36 |
| − Vacancy | −$6.1k | −$1.64 |
| EGI | $72.9k | $19.72 |
| − OpEx | −$32.8k | −$8.87 |
| NOI | $40.1k | $10.84 |
3,696 SF · lease $21.36/SF/yr · vacancy 7.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$572.5K
$501.0K – $668.0K
NOI $40,077 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$980.5K – $1.31M
NOI $78,441 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - All-brick historic building with 12 updated residential units and multiple ready-to-rent vacancies.
Where is this apartment building located?
The property is located at 32 N 3RD Avenue Coatesville, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Historic Nagle Building, formerly the Old Washington Firehouse (built 1920) with brick and stone exterior; 12 residential units: 1 one‑bedroom, 4 two‑bedroom, and 7 three‑bedroom units; Updates include newer windows, newer roof, and electrical, plus kitchen, appliance, bathroom, and flooring updates
