Updated Four-Unit Apartment
For Sale
$550,000
332 South Avenue, Norwood, PA 19074
Four occupied two-bedroom apartments with updated flooring and separately metered utilities.
Property Size3,564 SF
Price / SF$154.32
Days on Market171
Property Features for 332 South Avenue
General Information
Standard status
Active
Size
3,564 SF
Property subtype
Multi-Family / Fee Simple
Zoning
4 UNIT
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,109
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1957
Buildings
1
Listing Agency:
Realty Mark Cityscape-King of Prussia
(610) 331-2027
Listed By:
Robert Stranix · License #rs354292
(610) 331-2027
Source:
Compass
Added: Mar 14
Changed: Aug 30
Last Checked: Aug 30 at 4:15AM
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 four-unit residential income property contains 3,564 square feet arranged as four two-bedroom, one-bath apartments. Each unit has durable LVP flooring, and all units are currently occupied by paying tenants. The building was constructed in 1957 and is designated 4 UNIT zoning.
Utilities are separately metered for gas, electric, and water, with those services paid by the tenants. Professional management is provided by Premier Property Management and Realty LLC, located five minutes from the property. The asset is located at 332 South Avenue in Norwood, Pennsylvania, within Delaware County and the Interboro School District.
Utilities are separately metered for gas, electric, and water, with those services paid by the tenants. Professional management is provided by Premier Property Management and Realty LLC, located five minutes from the property. The asset is located at 332 South Avenue in Norwood, Pennsylvania, within Delaware County and the Interboro School District.
Key Highlights
- Four 2‑bedroom, 1‑bath units
- 3,564 SF building constructed in 1957
- All four 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
NOI $39,064 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$510.4K
$446.6K – $595.5K
NOI $35,728 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$1.08M
$945.5K – $1.26M
NOI $75,640 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied two-bedroom apartments with updated flooring and separately metered utilities.
Where is this quadplex located?
The property is located at 332 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 SF building constructed in 1957; All four units occupied by paying tenants
