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Property profile & analytics
OFF-MARKET
Estimated value
$1,140,000
Apartment buildings
2 Waterview Rd West Chester, PA 19380-6338
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US73-1215929
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1973
Total area
6,000 SF
Lot
13.8 ac (601,128 SF)
Zoning code
R2
APN
5306G00400000
UPID
US73-1215929
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Waterview Apartment Homes Apartment Complex Apartment Building
-
SBN Junk Removal West Chester Waste Management Facility Hazardous Waste Disposal
-
Fellini Restaurant
-
Jumbo Pizza Restaurant
-
Fellini Cafe of West Chester Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.02M
CAP Approach
CAP
$1.00M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.14M
Owner & transaction history
Home Properties Waterview LLC · 15 yrs held
Home Properties Waterview LLC
since 2011
6 recorded transactions
Zoning & alternative use
R2 · West Chester, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.8M
+56.9%
Restaurant
$1.7M
+52.4%
Office building
$1.3M
+13.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs West Chester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Chester submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$1,020,000
CAP Approach
CAP Return
Estimation
6%
$1,085,000
6.5%
$1,000,000
7%
$930,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,140,000
Current use
COMMERCIAL (GENERAL)
$1,785,000
Change: +57% · Conversion: Moderate
RESTAURANT
$1,735,000
Change: +52% · Conversion: Difficult
OFFICE BUILDING
$1,295,000
Change: +14% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,070,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$1.14M
Range $1.03M – $1.25M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$190 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$340,246
Tax year 2024
Assessed value
$11,839,820
Assessed 2024
Previous assessed
$11,839,820
+0.0% YoY
Effective rate
2.87%
On assessed value
Assessed land
$1,404,810
Assessed improvement
$10,435,010
Land market value
$1,404,810
Improvement market value
$10,622,800
Total market value
$12,027,610
Applied tax rate
53.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1973
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
6
Total area
6,000 SF
Lot
13.8 ac (601,128 SF)
Zoning code
R2
APN
5306G00400000
UPID
US73-1215929
Jurisdiction
CHESTER
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
R2 · West Chester, PAZoning R2 · permitted uses
R2 · West Chester, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.8M
RESTAURANT
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1973
Heating
FORCED AIR
Cooling
Yes
Buildings
6
Lot
13.8 ac
Current owner
From public records · entity-resolved
Home Properties Waterview LLC
Entity
Mailing address
112 S FRENCH ST105MP, WILMINGTON, DE 19801-5035
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2019
—
Waterview Lantern Owner LLC
—
Grant Deed
related
$30,300,000 · Berkadia Com'l Mtg
Jul 15, 2011
$24,600,000
Home Properties Waterview LLC
Fairfield Waterview LLC
Grant Deed
—
Feb 14, 2011
—
Fairfield Waterview LLC
—
Deed Of Trust
related
$22,474,141 · Principal Life Insurance Co
Feb 7, 2006
$25,750,000
Fairfield Waterview LLC
Waterview Associates
Grant Deed
related
—
Dec 28, 2005
$26,250,000
Fairfield Waterview LLC
Waterview Associates
Grant Deed
related
$23,000,000 · Principal Life Insurance Co
—
—
Waterview Associates LP
—
Deed Of Trust
related
$14,300,000 · First Union National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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