3-Unit Multifamily
New
For Sale
$475,000
655 DREXEL AVENUE, Drexel Hill, PA 19026
Each apartment has its own gas and electric meters.
Property Size2,645 SF
Price / SF$179.58
Days on Market5
Property Features for 655 DREXEL AVENUE
General Information
Standard status
Active
Size
2,645 SF
Property subtype
Triplex
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1952
Listing Agency:
CG Realty, LLC
(610) 566-5182
Listed By:
Robert A. Gerrard · License #RS341184
(484) 433-6292
Source:
Cummingsrealtors
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 19 at 5:09AM
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 CG Realty, LLC
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Investment Insights
Based on property information with market context.
This 2,645-square-foot triplex, built in 1952, contains two apartments with two bedrooms and one bathroom each, plus a lower-level unit with one bedroom and one bathroom. The lower-level apartment was converted recently, with township zoning variances and permits completed for the work.
Gas and electric service are separately metered for all three units. The property is on Drexel Ave in Drexel Hill, near shopping, dining, public transportation, and major commuting routes.
Gas and electric service are separately metered for all three units. The property is on Drexel Ave in Drexel Hill, near shopping, dining, public transportation, and major commuting routes.
Key Highlights
- Three apartments: two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath lower‑level unit
- 2,645 square feet; built in 1952
- Lower‑level apartment conversion has township zoning variances and permits completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,991
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,820
$579.8K
Cap Rate 7%
$414,157
$414.2K
Cap Rate 9%
$322,122
$322.1K
Market Conditions
NOI Build-Up for 2,645 SF
Gross rent
$47.6K $18.00/SF
− Vacancy
−$6.2K −$2.34/SF
EGI
$41.4K $15.66/SF
− OpEx
−$12.4K −$4.70/SF
NOI
$29.0K $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%
$579,820
Cap Rate 7%
$414,157
Cap Rate 9%
$322,122
Alternative Uses
Best Use
Multifamily LT 5
$414.2K
$362.4K – $483.2K
NOI $28,991 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$378.8K
$331.4K – $441.9K
NOI $26,515 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$801.9K
$701.7K – $935.6K
NOI $56,136 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
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Business Placement
Demographics for 19026, PA
32,021
Population
13,643
Households
2.3
Avg Household Size
39
Median Age
46%
College-Educated
94%
High-School Grad
3.6 sq mi
ZIP Area
8,895
Density / Sq Mi
$89,079
Median Household Income
$50,930
Median Earnings
$1,316
Median Rent
$243,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each apartment has its own gas and electric meters.
Where is this triplex located?
The property is located at 655 DREXEL AVENUE Drexel Hill, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three apartments: two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath lower‑level unit; 2,645 square feet; built in 1952; Lower‑level apartment conversion has township zoning variances and permits completed
