Four-Unit Multifamily with
For Sale
$850,000
421 Otter Street, Bristol, PA 19007
Four rented residential units include four detached garages on a large lot with centrally cooled interiors.
Property Size2,496 SF
Price / SF$340.54
Days on Market180
Property Features for 421 Otter Street
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
4
Building Details
Year Built
1919
Listing Agency:
Anthony Messina Real Estate,LLC
Listed By:
Janine A. Allan · License #RM424999
(215) 788-0456
Source:
Deepcreeklake
Added: Mar 12
Changed: Sep 6
Last Checked: Sep 7 at 11:31AM
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 Anthony Messina Real Estate,LLC
Investment Insights
Based on property information with market context.
This four-unit multifamily property features two 1-bedroom, 1-bath units and two 2-bedroom, 1-bath units. The exterior has been freshly painted and the property includes a newer roof. Each residential unit is equipped with central air, and all four detached garages are rented out as well.
The building is being offered as part of a bundle of four multi-unit buildings.
The large lot provides additional space at the site and includes residential units and detached garage structures currently producing rental income.
The building is being offered as part of a bundle of four multi-unit buildings.
The large lot provides additional space at the site and includes residential units and detached garage structures currently producing rental income.
Key Highlights
- Four‑unit residential building built in 1919 with two 1 bed/1 bath units and two 2 bed/1 bath units
- All four residential units have central air
- Newer roof and freshly painted exterior
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
$30,904
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
3.64%
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%
$618,080
$618.1K
Cap Rate 7%
$441,486
$441.5K
Cap Rate 9%
$343,378
$343.4K
Market Conditions
NOI Build-Up for 2,496 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
$58.1K $23.28/SF
− Vacancy
−$1.9K −$0.77/SF
EGI
$56.2K $22.51/SF
− OpEx
−$25.3K −$10.13/SF
NOI
$30.9K $12.38/SF
Area
Bucks County, PA
Vacancy
3.30%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$618,080
Cap Rate 7%
$441,486
Cap Rate 9%
$343,378
Alternative Uses
Best Use
Apartment 5plus
$441.5K
$386.3K – $515.1K
NOI $30,904 @ 7.0% cap · market cap 3.64%
Second Best
Multifamily LT 5
$423.1K
$370.2K – $493.6K
NOI $29,615 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$756.8K
$662.2K – $882.9K
NOI $52,973 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
922
Businesses Nearby
Explore this area
Business Placement
Demographics for 19007, PA
21,849
Population
9,675
Households
2.3
Avg Household Size
40
Median Age
24%
College-Educated
89%
High-School Grad
7.5 sq mi
ZIP Area
2,913
Density / Sq Mi
$66,811
Median Household Income
$43,642
Median Earnings
$1,029
Median Rent
$264,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four rented residential units include four detached garages on a large lot with centrally cooled interiors.
Where is this quadplex located?
The property is located at 421 Otter Street Bristol, PA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four‑unit residential building built in 1919 with two 1 bed/1 bath units and two 2 bed/1 bath units; All four residential units have central air; Newer roof and freshly painted exterior
