13-Unit Apartment
For Sale
$1,810,000
8 PAUL NELMS DRIVE, Downingtown, PA 19335
Thirteen one-bedroom apartments are leased to private-pay tenants in Downingtown.
Property Size8,595 SF
Price / SF$210.59
Days on Market52
Property Features for 8 PAUL NELMS DRIVE
General Information
Standard status
Active
Size
8,595 SF
Property subtype
Commercial
Occupancy
100%
Units
Unit Mix
13 x 1BR
Multifamily Units
13
Building Details
Year Built
1900
Listing Agency:
Real of Pennsylvania
(855) 450-0442
Listed By:
Beau McGettigan · License #RS329721
(484) 459-7882
Source:
Cummingsrealtors
Added: Sep 11
Changed: Oct 31
Last Checked: Oct 30 at 4:24PM
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 Real of Pennsylvania
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Investment Insights
Based on property information with market context.
Located at 8 Paul Nelms Drive in Downingtown, this 8,595-square-foot apartment property contains 13 one-bedroom units. Built in 1900, the building is fully leased to private-pay tenants, with no income-restriction requirements identified in the property information.
An additional land lot is included and may support future development subject to applicable approvals. The offering is also part of a larger 72-unit portfolio comprising 10 multifamily and mixed-use investment properties across Chester County, Pennsylvania.
An additional land lot is included and may support future development subject to applicable approvals. The offering is also part of a larger 72-unit portfolio comprising 10 multifamily and mixed-use investment properties across Chester County, Pennsylvania.
Key Highlights
- 13 one‑bedroom apartment units
- 100% leased to private‑pay tenants
- 8,595‑square‑foot property built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,199
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,863,980
$1.9M
Cap Rate 7%
$1,331,414
$1.3M
Cap Rate 9%
$1,035,544
$1.0M
Market Conditions
NOI Build-Up for 8,595 SF
Gross rent
$183.6K $21.36/SF
− Vacancy
−$14.1K −$1.64/SF
EGI
$169.5K $19.72/SF
− OpEx
−$76.3K −$8.87/SF
NOI
$93.2K $10.84/SF
Area
Chester County, PA
Vacancy
7.70%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,863,980
Cap Rate 7%
$1,331,414
Cap Rate 9%
$1,035,544
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $93,199 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.28M – $3.04M
NOI $182,414 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
13
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Explore this area
Business Placement
Demographics for 19335, PA
52,406
Population
20,276
Households
2.6
Avg Household Size
40
Median Age
62%
College-Educated
98%
High-School Grad
43.3 sq mi
ZIP Area
1,210
Density / Sq Mi
$136,839
Median Household Income
$69,850
Median Earnings
$1,647
Median Rent
$464,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Thirteen one-bedroom apartments are leased to private-pay tenants in Downingtown.
Where is this apartment building located?
The property is located at 8 PAUL NELMS DRIVE Downingtown, PA.
What is the asking price?
The asking price for this property is $1,810,000.
What are key features of this property?
This property features: 13 one‑bedroom apartment units; 100% leased to private‑pay tenants; 8,595‑square‑foot property built in 1900
