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Property profile & analytics
OFF-MARKET
Estimated value
$10,795,000
Apartment buildings
971 Lancaster Ave Downingtown, PA 19335-5344
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US73-2134870
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1980
Total area
130,816 SF
Lot
3.07 ac (133,903 SF)
Zoning code
OC2
APN
4002 007101A0
UPID
US73-2134870
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
-
Ashbridge Manor Retirement Community
-
Saji Simon Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.80M
Owner & transaction history
Spring Ridge Associates LP · 17 yrs held
Spring Ridge Associates LP
since 2008
6 recorded transactions
Zoning & alternative use
OC2 · Downingtown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Downingtown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Downingtown 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$83 / 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
$201,820
Tax year 2024
Assessed value
$5,707,750
Assessed 2024
Previous assessed
$5,000,000
+14.2% YoY
Effective rate
3.54%
On assessed value
Assessed land
$966,000
Assessed improvement
$4,741,750
Land market value
$966,000
Improvement market value
$4,878,610
Total market value
$5,844,610
Applied tax rate
40.0000
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
1980
Heating
FORCED AIR
Cooling
CENTRAL
Units
123
Total area
130,816 SF
Lot
3.07 ac (133,903 SF)
Zoning code
OC2
APN
4002 007101A0
UPID
US73-2134870
Jurisdiction
CHESTER
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
OC2 · Downingtown, PAZoning OC2 · permitted uses
OC2 · Downingtown, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1980
Heating
FORCED AIR
Cooling
Yes
Units
123
Lot
3.07 ac
Current owner
From public records · entity-resolved
Spring Ridge Associates LP
Entity
Mailing address
120-124 E LANCASTER AVE, ARDMORE, PA 19003
Ownership since
2008
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
May 14, 2024
—
Spring Ridge Associates LP
—
Deed
related
$100,000 · Firstrust Bank
Jul 16, 2014
—
Spring-ridge Associates LP
—
Grant Deed
related
$13,300,000 · Mc-five Mile Com'l Mtg Fin
Dec 15, 2008
—
Spring-ridge Associates
—
Deed Of Trust
related
$12,065,900 · Wells Fargo Bank
Sep 9, 2008
—
Spring Ridge Associates LP
Spring-ridge Assocs
Quit Claim Deed
related
—
Aug 17, 2004
—
Spring-ridge Associates
—
Deed Of Trust
related
$10,000,000 · Union Labor Life Insurance Co
Jul 28, 2004
—
Spring-ridge Associates
Owner,record
Grant Deed
related
—
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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