Updated Brick Apartment
32 North 3rd Avenue Coatesville, PA 19320
32 North 3rd Avenue, Coatesville, PA, 19320
$1,200,000
Pending
For Sale
$1,200,000
Pending
This historic, all-brick building offers 12 renovated units with current city inspections and several apartments ready to rent.
Property Size3,696 SF
Days on Market53
Property Features for 32 North 3rd Avenue
General Information
- Standard status
- Pending
- Size
- 3,696 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1920
Listing agency
RE/MAX Action Associates
(610) 909-0975
Listed by
John Guerrera · License #AB061749L
(610) 909-0975
Source
Compass
Added: May 31 Updated: Jul 10 at 1:51PM Checked: Jul 21 at 5:56AM
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 historic, all-brick “Nagle” building—formerly the Old Washington Firehouse—contains 12 residential units. The current unit mix includes one 1-bedroom, four 2-bedroom, and seven 3-bedroom apartments. Updates are described as including kitchens, appliances, bathrooms, flooring, newer windows, a newer roof, and newer electrical. The listing also notes that each unit includes an E-I kitchen, with large living rooms and spacious bedrooms and baths. Three units are vacant and ready to rent, while the remaining nine are currently occupied.
The property is located at 32 North 3rd Avenue in Coatesville, Pennsylvania, within the Coatesville Area School District. The listing describes convenient access to Downtown Coatesville and surrounding employment and recreation destinations, including the historic steel mill, Historic High Bridge, Historic Terracina, and Graystone Mansions. It also states the building is within walking distance of the New Coatesville train station and is near major routes including Route 30 Bypass and Route 202.
For buyers and operators seeking a renovated small multifamily asset, the combination of unit updates, an on-site mix of 1-, 2-, and 3-bedroom apartments, and noted metered utility reimbursements for water, sewer, and gas can support straightforward tenanting and resident operations. The listing further states that city inspections are current through 12-31-26.
The property is located at 32 North 3rd Avenue in Coatesville, Pennsylvania, within the Coatesville Area School District. The listing describes convenient access to Downtown Coatesville and surrounding employment and recreation destinations, including the historic steel mill, Historic High Bridge, Historic Terracina, and Graystone Mansions. It also states the building is within walking distance of the New Coatesville train station and is near major routes including Route 30 Bypass and Route 202.
For buyers and operators seeking a renovated small multifamily asset, the combination of unit updates, an on-site mix of 1-, 2-, and 3-bedroom apartments, and noted metered utility reimbursements for water, sewer, and gas can support straightforward tenanting and resident operations. The listing further states that city inspections are current through 12-31-26.
Key Highlights
- Historic former Old Washington Firehouse building built in 1920 with 12 residential units
- All‑brick property with unit mix: (1) 1‑bedroom, (4) 2‑bedrooms, and (7) 3‑bedrooms
- Updates reported across all units: updated kitchens with appliances, bathrooms, flooring, newer windows, newer roof, and electrical
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 - This historic, all-brick building offers 12 renovated units with current city inspections and several apartments ready to rent.
Where is this apartment building located?
The property is located at 32 North 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 former Old Washington Firehouse building built in 1920 with 12 residential units; All‑brick property with unit mix: (1) 1‑bedroom, (4) 2‑bedrooms, and (7) 3‑bedrooms; Updates reported across all units: updated kitchens with appliances, bathrooms, flooring, newer windows, newer roof, and electrical
