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Property profile & analytics
OFF-MARKET
Estimated value
$13,615,000
High-rise multifamily apartments
38 Jenkins Ave Lansdale, PA 19446-2531
Individually Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US73-2803489
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1973
Total area
149,796 SF
Lot
2.96 ac (128,938 SF)
Zoning code
B
APN
11-00-08436-00-4
UPID
US73-2803489
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
-
Shahjada, Munshibari Mosque
-
David Aronson Astrology & Tarot Astrologer
-
Crossings at Stanbridge Apartments Apartment Complex Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.99M
Blend (final)
Blend
$13.62M
Owner & transaction history
Gardens Assocs L Pleasantville · 15 yrs held
Gardens Assocs L Pleasantville
since 2010
4 recorded transactions
Zoning & alternative use
B · Lansdale, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Business (B-2) Business Park Overlay Industrial Floodplain Conservation Transit-Oriented Design Overlay Professional Office and Specialty Restaurant Conservation Overlay Retirement Village Overlay Downtown Business Overlay Mixed-Use Overlay Business Center Revitalization Overlay Historic Rehabilitation Overlay
Zone name
Business
General category
COMMERCIAL
Zone area
131.26 ac
Source
Zoning Code 2018 PDF
Top alternative use upside
Restaurant
$21.0M
+1.0%
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 Lansdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lansdale 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$20,820,000
Current use
RESTAURANT
$21,025,000
Change: +1% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$19,525,000
Change: -6% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$16,750,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$13.62M
Range $12.25M – $14.98M · ±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
$91 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$237,999
Tax year 2023
Assessed value
$5,657,960
Assessed 2024
Previous assessed
$5,657,960
+0.0% YoY
Effective rate
4.21%
On assessed value
Total market value
$5,657,960
Applied tax rate
11.0000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1973
Heating
FORCED AIR
Cooling
CENTRAL
Units
150
Total area
149,796 SF
Lot
2.96 ac (128,938 SF)
Zoning code
B
APN
11-00-08436-00-4
UPID
US73-2803489
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
B · Lansdale, PAZoning B · permitted uses
B · Lansdale, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Business (B-2) Business Park Overlay Industrial Floodplain Conservation Transit-Oriented Design Overlay Professional Office and Specialty Restaurant Conservation Overlay Retirement Village Overlay Downtown Business Overlay Mixed-Use Overlay Business Center Revitalization Overlay Historic Rehabilitation Overlay
Zone name
Business
General category
COMMERCIAL
Zone area
131.26 ac
Source
Zoning Code 2018 PDF
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$20.8M
RESTAURANT
Est. value
$21.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$19.5M
INDUSTRIAL (GENERAL)
Est. value
$16.8M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
Units
150
Lot
2.96 ac
Current owner
From public records · entity-resolved
Gardens Assocs L Pleasantville
Individual
Mailing address
309 YORK RD STE #211, JENKINTOWN, PA 19046-3270
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2019
—
Pleasantville Gardens Assocs L
—
Grant Deed
related
$12,500,000 · Santander Bk NA
Oct 25, 2010
—
Gardens Assocs L Pleasantville
Pleasantville Gardens Assocs L
Quit Claim Deed
$8,700,000 · Sovereign Bank
Nov 20, 2007
$9,000,000
Gardens Assocs L Pleasantville
Stanbridge Associates
Grant Deed
$9,000,000 · Sovereign Bank
Jun 29, 1998
—
Stanbridge Associates LP
—
Deed Of Trust
related
$4,000,000 · Nomura Asset Capital Corp
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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