Updated Four-Unit Multifamily
New
For Sale
$450,000
423 MAIN STREET, Darby, PA 19023
Four apartments feature refreshed kitchens, individual electrical panels, and shared basement utility and storage space.
Property Size2,200 SF
Price / SF$204.55
Days on Market3
Property Features for 423 MAIN STREET
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Quadruplex
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Individually Metered Utilities
electricity
Additional Details
Public Transit
Yes
Building Details
Year Built
1930
Listing Agency:
Long & Foster Real Estate, Inc.
(610) 853-2700
Listed By:
Kyle Wilson · License #2441591
(484) 238-4247
Source:
Cummingsrealtors
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 2:53PM
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 Long & Foster Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 2,200-square-foot quadplex contains four apartments: three with two bedrooms and one bathroom, plus a one-bedroom, one-bathroom unit. The interiors have been updated with white shaker cabinetry, granite counters, stainless steel appliances, neutral finishes, and attractive flooring. Separate electrical panels serve each apartment, and the basement provides utility and storage space.
The property is near shopping, public transportation, and major commuting routes. Built in 1930, it offers a four-unit configuration with a mix of one- and two-bedroom apartments.
The property is near shopping, public transportation, and major commuting routes. Built in 1930, it offers a four-unit configuration with a mix of one- and two-bedroom apartments.
Key Highlights
- Four apartments: three 2‑bedroom, 1‑bathroom units and one 1‑bedroom, 1‑bathroom unit
- 2,200 square feet
- Updated kitchens with white shaker‑style cabinetry, granite countertops, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,114
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$482,280
$482.3K
Cap Rate 7%
$344,486
$344.5K
Cap Rate 9%
$267,933
$267.9K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$39.6K $18.00/SF
− Vacancy
−$5.2K −$2.34/SF
EGI
$34.4K $15.66/SF
− OpEx
−$10.3K −$4.70/SF
NOI
$24.1K $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 Rate 5%
$482,280
Cap Rate 7%
$344,486
Cap Rate 9%
$267,933
Alternative Uses
Best Use
Multifamily LT 5
$344.5K
$301.4K – $401.9K
NOI $24,114 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$315.1K
$275.7K – $367.6K
NOI $22,054 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$667.0K
$583.6K – $778.2K
NOI $46,691 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
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Business Placement
Demographics for 19023, PA
22,180
Population
9,089
Households
2.4
Avg Household Size
34
Median Age
17%
College-Educated
87%
High-School Grad
2.0 sq mi
ZIP Area
11,090
Density / Sq Mi
$48,962
Median Household Income
$37,110
Median Earnings
$1,240
Median Rent
$117,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments feature refreshed kitchens, individual electrical panels, and shared basement utility and storage space.
Where is this quadplex located?
The property is located at 423 MAIN STREET Darby, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four apartments: three 2‑bedroom, 1‑bathroom units and one 1‑bedroom, 1‑bathroom unit; 2,200 square feet; Updated kitchens with white shaker‑style cabinetry, granite countertops, and stainless steel appliances
