Historic Multifamily
New
For Sale
$1,750,000
492 NEW GALENA ROAD, Chalfont, PA 18914
Two detached guest cottages provide rental income under flexible month-to-month leases.
Property Size7,350 SF
Price / SF$238.10
Days on Market3
Property Features for 492 NEW GALENA ROAD
General Information
Standard status
Active
Size
7,350 SF
Property subtype
Triplex
Building Details
Year Built
1750
Listing Agency:
BHHS Fox & Roach-Doylestown
(215) 348-1700
Listed By:
Tamara Nicholson · License #RS320312
(215) 534-7269
Source:
Cummingsrealtors
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 1 at 3:24PM
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 BHHS Fox & Roach-Doylestown
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Investment Insights
Based on property information with market context.
Dating to 1750, this multifamily property spans over nine acres and includes a historic main residence, two detached guest cottages, and several additional outbuildings. The main house offers multiple living and gathering areas across three levels, including a library, office, sunroom, and bedrooms. Historic details include exposed beams, stonework, and original hardwood flooring. Updated systems include a two-zone heat pump, upgraded electrical service, public sewer, and a well with water treatment and softening equipment.
The guest cottages are currently rented on month-to-month terms. Bird-House Cottage has one bedroom, while Hen-House Cottage includes three bedrooms and one bathroom. Other improvements include a detached three-car garage, a multi-use barn, a garden shed, a roadside farm stand, and a spa with a resistance pool and hot tub. The property is in the Central Bucks School District and minutes from outdoor recreation at Lake Galena.
The guest cottages are currently rented on month-to-month terms. Bird-House Cottage has one bedroom, while Hen-House Cottage includes three bedrooms and one bathroom. Other improvements include a detached three-car garage, a multi-use barn, a garden shed, a roadside farm stand, and a spa with a resistance pool and hot tub. The property is in the Central Bucks School District and minutes from outdoor recreation at Lake Galena.
Key Highlights
- Over nine acres with a 1750‑built main residence
- Two detached cottages currently rented on flexible month‑to‑month leases
- Bird‑House Cottage has 1 bedroom; Hen‑House Cottage has 3 bedrooms and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,004
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,820,080
$1.8M
Cap Rate 7%
$1,300,057
$1.3M
Cap Rate 9%
$1,011,156
$1.0M
Market Conditions
NOI Build-Up for 7,350 SF
Gross rent
$171.1K $23.28/SF
− Vacancy
−$5.6K −$0.77/SF
EGI
$165.5K $22.51/SF
− OpEx
−$74.5K −$10.13/SF
NOI
$91.0K $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 Rate 5%
$1,820,080
Cap Rate 7%
$1,300,057
Cap Rate 9%
$1,011,156
Alternative Uses
Best Use
Apartment 5plus
$1.30M
$1.14M – $1.52M
NOI $91,004 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $155,991 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
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Demographics for 18914, PA
21,475
Population
7,900
Households
2.7
Avg Household Size
43
Median Age
56%
College-Educated
97%
High-School Grad
17.6 sq mi
ZIP Area
1,220
Density / Sq Mi
$148,286
Median Household Income
$67,169
Median Earnings
$1,991
Median Rent
$477,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two detached guest cottages provide rental income under flexible month-to-month leases.
Where is this multifamily property located?
The property is located at 492 NEW GALENA ROAD Chalfont, PA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Over nine acres with a 1750‑built main residence; Two detached cottages currently rented on flexible month‑to‑month leases; Bird‑House Cottage has 1 bedroom; Hen‑House Cottage has 3 bedrooms and 1 bath
