Colonial Triplex with Separate
New
For Sale
$600,000
803 FORREST Street, Conshohocken, PA 19428
MULTI_FAMILY - Colonial - CONSHOHOCKEN, PA
Property Size2,360 SF
Lot Size0.07 Acres
Price / SF$254.24
Days on Market6
Property Features for 803 FORREST Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
On Street
Subdivision
CONSHOHOCKEN
Elementary school
COLONIAL
Middle school
COLONIAL
High school
PLYMOUTH WHITEMARSH
Elementary school district
COLONIAL
Middle school district
COLONIAL
High school district
COLONIAL
Standard status
Active
Size
2,360 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
4059
Utilities
Heating system
Forced Air, Other (Heating)
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1920
Number of units
3
Building materials
Stucco
Architectural style
Colonial
Listing Agency:
Quality Real Estate-Broad St
(215) 457-2600
Listed By:
Wadia S Timazee-Biddle · License #RS299997
(215) 457-2600
Added: Aug 4
Last Checked: Aug 9 at 11:06PM
MLS# PAMC2189256
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Colonial-style triplex contains two two-bedroom, one-bath apartments and a recently updated studio efficiency unit. The first-floor residence and second-floor apartment are separately accessed, with the upper unit reached through a private entrance at 14 W. 8th Street. The studio includes central air conditioning, while the property also has forced-air heating, window-unit cooling, stucco construction, and on-street parking. The building is offered strictly as-is and was constructed in 1920.
Both two-bedroom apartments are tenant occupied, and the studio is vacant. The three units are separately metered, supporting direct tenant responsibility for utilities. The property is within the Colonial School District and offers access to Conshohocken restaurants, shopping, nightlife, regional rail service, I-76, I-476, and the Pennsylvania Turnpike. Center City Philadelphia, King of Prussia, and the Main Line are also identified as accessible destinations.
Both two-bedroom apartments are tenant occupied, and the studio is vacant. The three units are separately metered, supporting direct tenant responsibility for utilities. The property is within the Colonial School District and offers access to Conshohocken restaurants, shopping, nightlife, regional rail service, I-76, I-476, and the Pennsylvania Turnpike. Center City Philadelphia, King of Prussia, and the Main Line are also identified as accessible destinations.
Key Highlights
- Three‑unit Colonial property built in 1920
- Two 2‑bedroom, 1‑bath apartments plus a studio efficiency unit
- 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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway 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 apartments include a recently updated studio with central air conditioning.
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 Colonial property built in 1920; Two 2‑bedroom, 1‑bath apartments plus a studio efficiency unit; All three units are separately metered
