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304 E 9th St 7 Unit Apartment Building $981,022 CAD ($140,146 CAD/Unit) 6.57% Cap Rate Chester, PA 19013
Investment Highlights
- Fully Occupied 7 Unit Multifamily with Value-Add Upside
- Newly renovated building minimizes upfront capital expenditures
- Mix of Market Rents and Section 8
Executive Summary
304 East 9th Street is a fully occupied, 7-unit multifamily property in Chester, Pennsylvania.
This income-producing property consists of six (6) one-bedroom/one-bath units and one (1) studio unit. The entire building was fully gut-renovated in 2014 with new electrical, plumbing, HVAC, and major capital improvements, and there have been many additional updates since 2021. The property features four off-street parking spaces along with abundant non-metered street parking.
The property also offers embedded rental upside: increasing in-place rents to the proforma levels reflected in the rent roll would raise gross potential rent from $72,840 to $78,000 annually, increasing NOI and overall return.
This income-producing property consists of six (6) one-bedroom/one-bath units and one (1) studio unit. The entire building was fully gut-renovated in 2014 with new electrical, plumbing, HVAC, and major capital improvements, and there have been many additional updates since 2021. The property features four off-street parking spaces along with abundant non-metered street parking.
The property also offers embedded rental upside: increasing in-place rents to the proforma levels reflected in the rent roll would raise gross potential rent from $72,840 to $78,000 annually, increasing NOI and overall return.
Property Facts
| Price | $981,022 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $140,146 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 6.57% | Building Size | 4,500 SF |
| No. Units | 7 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1925/2021 |
| Price | $981,022 CAD |
| Price Per Unit | $140,146 CAD |
| Sale Type | Investment |
| Cap Rate | 6.57% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,500 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1925/2021 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 6 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 49-04-00264-00 | Improvements Assessment | $394,861 CAD |
| Land Assessment | $46,599 CAD | Total Assessment | $441,460 CAD |
Property Taxes
Parcel Number
49-04-00264-00
Land Assessment
$46,599 CAD
Improvements Assessment
$394,861 CAD
Total Assessment
$441,460 CAD
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304 E 9th St
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