Building Details

Year Built 1957

Listing Agency: Realty Mark Cityscape-King of Prussia r***@yahoo.com Show Phone

Listed By: Robert Stranix · License #rs354292 Show Phone

Source: Compass

Added: Mar 14 Changed: Aug 29 Last Checked: Aug 29 at 7:57PM

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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 Realty Mark Cityscape-King of Prussia

Investment Insights

Based on property information with market context.

This 3,564-square-foot quadplex contains four 2-bedroom, 1-bath residences. Each unit features updated luxury vinyl plank flooring, and all four units are occupied by paying tenants. The property was built in 1957 and is designated for 4 FAMILY use.

Gas, electric, and water are separately metered, with those utility costs paid by the tenants. Professional management is provided by Premier Property Management and Realty LLC, located 5 minutes from the property. The building is at 328 South South Avenue in Norwood, Delaware County, within the Interboro School District.

Key Highlights

• Four 2‑bedroom, 1‑bath units
• 3,564 square feet across four residential units
• All units occupied by paying tenants

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

$39,064

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

7.10%

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%

$781,280 $781.3K

Cap Rate 7%

$558,057 $558.1K

Cap Rate 9%

$434,044 $434.0K

Market Conditions

NOI Build-Up for 3,564 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

$64.2K $18.00/SF

− Vacancy

−$8.3K −$2.34/SF

EGI

$55.8K $15.66/SF

− OpEx

−$16.7K −$4.70/SF

NOI

$39.1K $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 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%

$781,280

Cap Rate 7%

$558,057

Cap Rate 9%

$434,044

Alternative Uses

Best Use

Multifamily LT 5

$558.1K

$488.3K – $651.1K (±1% cap)

NOI $39,064 @ 7.0% cap · market cap 7.10%

Second Best

Apartment 5plus

$510.4K

$446.6K – $595.5K (±1% cap)

NOI $35,728 @ 7.0% cap · market cap 6.50%

Theoretical Best

Office A

$1.08M

$945.5K – $1.26M (±1% cap)

NOI $75,640 @ 7.0% cap · market cap 13.75%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Quadplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Bakery Accounting Firm Cafe & Coffee Shop Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

628

Businesses Nearby

Explore this area Business Placement

Demographics for 19074, PA

5,943

Population

2,513

Households

2.4

Avg Household Size

41

Median Age

26%

College-Educated

94%

High-School Grad

0.8 sq mi

ZIP Area

7,429

Density / Sq Mi

$89,135

Median Household Income

$49,098

Median Earnings

$1,247

Median Rent

$227,500

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?

Quadplex - All units are occupied, with updated LVP flooring and tenant-paid separately metered utilities.

Where is this quadplex located?

The property is located at 328 South South Avenue Norwood, PA.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: Four 2‑bedroom, 1‑bath units; 3,564 square feet across four residential units; All units occupied by paying tenants