Three-Unit Triplex with
For Sale
$650,000
7301 CHESTNUT AVE, Elkins Park, PA 19027
Tenant-occupied multifamily property with solar panels, private outdoor areas, multiple garages, and a vacant unit for flexible occupancy.
Property Size4,355 SF
Lot Size0.27 Acres
Days on Market319
Property Features for 7301 CHESTNUT AVE
General Information
Standard status
Active
Size
4,355 SF
Lot size
0.27 Acres
Property subtype
Triplex
Units
Unit Mix
3BR/2BA, 3BR/1BA, 1BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,847
Amenities
solar panels
large driveway
two-car garage
second detached garage
fenced front yard
covered porch
garden
semi-private backyard
patio
mature landscaping
shared laundry facilities
in-unit laundry
Building Details
Building Size
4,355 SF
Year Built
1873
Stories
3
Listing Agency:
EXP Realty, LLC
(267) 838-8537
Listed By:
Jason Drew Driscoll · License #RS360272
(267) 838-8537
Source:
Lizclarkrealestate
Added: Oct 9, 2025
Changed: Aug 20
Last Checked: Aug 23 at 9:23AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1873, this three-level triplex contains three separate apartments, each with its own kitchen and full bathroom. The first-floor residence offers three bedrooms, two full baths, and a kitchen connected to the rear yard. The second-floor unit includes three bedrooms, a full bath, in-unit laundry, and more than 1,200 square feet. The top-floor apartment has one bedroom, one bath, and abundant natural light. One apartment is vacant, while the other two are tenant occupied. Shared basement laundry and storage add practical support space.
The property occupies .27 acres at 7301 Chestnut Ave in Elkins Park, PA 19027. Improvements include solar panels, a large driveway, a two-car garage, and a separate detached garage. Fenced front and rear outdoor areas feature a covered porch, garden, patio, and mature landscaping. The setting is described as convenient to restaurants, cafes, and regional rail, with access between Center City and suburban communities.
The property occupies .27 acres at 7301 Chestnut Ave in Elkins Park, PA 19027. Improvements include solar panels, a large driveway, a two-car garage, and a separate detached garage. Fenced front and rear outdoor areas feature a covered porch, garden, patio, and mature landscaping. The setting is described as convenient to restaurants, cafes, and regional rail, with access between Center City and suburban communities.
Key Highlights
- Three‑unit multifamily property at 7301 CHESTNUT AVE, ELKINS PARK, PA 19027
- Built in 1873 on .27 acres
- Unit mix includes two three‑bedroom apartments and one one‑bedroom apartment
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
$58,837
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
9.05%
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%
$1,176,740
$1.2M
Cap Rate 7%
$840,529
$840.5K
Cap Rate 9%
$653,744
$653.7K
Market Conditions
NOI Build-Up for 4,355 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
$113.9K $26.16/SF
− Vacancy
−$6.9K −$1.60/SF
EGI
$107.0K $24.56/SF
− OpEx
−$48.1K −$11.05/SF
NOI
$58.8K $13.51/SF
Area
Montgomery County, PA
Vacancy
6.10%
Lease Rate
$26.16 /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%
$1,176,740
Cap Rate 7%
$840,529
Cap Rate 9%
$653,744
Alternative Uses
Best Use
Multifamily LT 5
$904.0K
$791.0K – $1.05M
NOI $63,278 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$840.5K
$735.5K – $980.6K
NOI $58,837 @ 7.0% cap · market cap 9.05%
Theoretical Best
Specialty Retail
$2.51M
$2.19M – $2.92M
NOI $175,353 @ 7.0% cap · market cap 26.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
Explore this area
Business Placement
Demographics for 19027, PA
19,170
Population
8,550
Households
2.2
Avg Household Size
43
Median Age
56%
College-Educated
97%
High-School Grad
3.9 sq mi
ZIP Area
4,915
Density / Sq Mi
$105,190
Median Household Income
$52,970
Median Earnings
$1,439
Median Rent
$348,700
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?
Triplex - Tenant-occupied multifamily property with solar panels, private outdoor areas, multiple garages, and a vacant unit for flexible occupancy.
Where is this triplex located?
The property is located at 7301 CHESTNUT AVE Elkins Park, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑unit multifamily property at 7301 CHESTNUT AVE, ELKINS PARK, PA 19027; Built in 1873 on .27 acres; Unit mix includes two three‑bedroom apartments and one one‑bedroom apartment
