Triplex with Updated
For Sale
$600,000
803 FORREST STREET, Conshohocken, PA 19428
Three separately metered units include two two-bedroom apartments and a vacant studio efficiency.
Property Size2,360 SF
Price / SF$254.24
Days on Market9
Property Features for 803 FORREST STREET
General Information
Standard status
Active
Size
2,360 SF
Property subtype
Triplex
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA, 1 x studio
Multifamily Units
3
Building Details
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
Quality Real Estate-Broad St
(215) 457-2600
Listed By:
Wadia S Timazee-Biddle · License #RS299997
(215) 457-2600
Source:
Cummingsrealtors
Added: Aug 1
Changed: Aug 9
Last Checked: Aug 9 at 2:47PM
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 Quality Real Estate-Broad St
Investment Insights
Based on property information with market context.
This 2,360-square-foot triplex, built in 1920, contains three separately metered residences. The first and second floors each offer a two-bedroom, one-bath apartment, while the third unit is a recently updated studio efficiency with central air conditioning. The two larger apartments are tenant occupied, and the studio is vacant. The property is offered as-is; the two-bedroom units are described as being in average condition, with cosmetic updating identified as an opportunity.
The property is within the Colonial School District and near Conshohocken restaurants, boutique retail, nightlife, regional rail service, I-76, I-476, and the Pennsylvania Turnpike. Center City Philadelphia, King of Prussia, and the Main Line are also accessible from the location.
The property is within the Colonial School District and near Conshohocken restaurants, boutique retail, nightlife, regional rail service, I-76, I-476, and the Pennsylvania Turnpike. Center City Philadelphia, King of Prussia, and the Main Line are also accessible from the location.
Key Highlights
- Three‑unit multifamily property with 2,360 square feet
- Unit mix includes two 2‑bedroom, 1‑bath apartments and a studio efficiency
- All three units are separately metered
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
$34,291
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
5.72%
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%
$685,820
$685.8K
Cap Rate 7%
$489,871
$489.9K
Cap Rate 9%
$381,011
$381.0K
Market Conditions
NOI Build-Up for 2,360 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
$52.4K $22.20/SF
− Vacancy
−$3.4K −$1.44/SF
EGI
$49.0K $20.76/SF
− OpEx
−$14.7K −$6.23/SF
NOI
$34.3K $14.53/SF
Area
Montgomery County, PA
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$685,820
Cap Rate 7%
$489,871
Cap Rate 9%
$381,011
Alternative Uses
Best Use
Multifamily LT 5
$489.9K
$428.6K – $571.5K
NOI $34,291 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$455.5K
$398.6K – $531.4K
NOI $31,884 @ 7.0% cap · market cap 5.31%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,025 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,858
Businesses Nearby
Explore this area
Business Placement
Demographics for 19428, PA
19,690
Population
10,032
Households
2
Avg Household Size
36
Median Age
66%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
2,697
Density / Sq Mi
$116,566
Median Household Income
$73,713
Median Earnings
$1,900
Median Rent
$445,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered units include two two-bedroom apartments and a vacant studio efficiency.
Where is this triplex located?
The property is located at 803 FORREST STREET Conshohocken, PA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 2,360 square feet; Unit mix includes two 2‑bedroom, 1‑bath apartments and a studio efficiency; All three units are separately metered
