Philadelphia Triplex: Income-Producing
For Sale
$450,000
1400 GREEBY Street, Philadelphia, PA 19111
MULTI_FAMILY - PHILADELPHIA, PA
Property Size1,400 SF
Lot Size0.04 Acres
Price / SF$321.43
Days on Market170
Property Features for 1400 GREEBY Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,400 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3961
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1925
Number of units
3
Building materials
Masonry
Listing Agency:
Elite Realty Group Unl. Inc. · RE/MAX International
(215) 328-4800
Listed By:
Joseph B Bograd · License #AB066484
(267) 246-9729
Added: Feb 24
Changed: Jun 9
Last Checked: Aug 13 at 1:06PM
MLS# PAPH2573452
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 fully occupied Philadelphia triplex offers a strong opportunity for investors seeking immediate cash flow. The property includes two well-sized 2-bedroom units, each generating $1,250 per month in rent. Additionally, there is a 1-bedroom unit with a private side entrance, currently receiving $900 per month and offering excellent rental flexibility. Tenants have access to the basement, which features shared laundry facilities and dedicated storage areas. Separate utilities for each unit simplify management and maintain efficient operating costs. The property size is 1400 square feet and the lot size is 0.0433 acres. With reliable in-place income and continued rental demand in the area, this triplex is a smart addition to any investor's portfolio.
Key Highlights
- Fully occupied triplex providing immediate cash flow.
- Two 2‑bedroom units each generating $1,250/month rent.
- Additional 1‑bedroom unit with private entrance, renting for $900/month.
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
$18,797
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
4.18%
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%
$375,940
$375.9K
Cap Rate 7%
$268,529
$268.5K
Cap Rate 9%
$208,856
$208.9K
Market Conditions
NOI Build-Up for 1,400 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
$27.7K $19.80/SF
− Vacancy
−$868 −$0.62/SF
EGI
$26.9K $19.18/SF
− OpEx
−$8.1K −$5.75/SF
NOI
$18.8K $13.43/SF
Area
ZIP 19111
Vacancy
3.13%
Lease Rate
$19.80 /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%
$375,940
Cap Rate 7%
$268,529
Cap Rate 9%
$208,856
Alternative Uses
Best Use
Multifamily LT 5
$268.5K
$235.0K – $313.3K
NOI $18,797 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$247.6K
$216.7K – $288.9K
NOI $17,334 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$424.5K
$371.4K – $495.2K
NOI $29,713 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,240
Businesses Nearby
Explore this area
Business Placement
Demographics for 19111, PA
67,017
Population
27,518
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
86%
High-School Grad
4.8 sq mi
ZIP Area
13,962
Density / Sq Mi
$60,441
Median Household Income
$39,065
Median Earnings
$1,221
Median Rent
$244,000
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 - Fully occupied Philadelphia triplex, generating immediate cash flow for investors.
Where is this triplex located?
The property is located at 1400 GREEBY Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Fully occupied triplex providing immediate cash flow.; Two 2‑bedroom units each generating $1,250/month rent.; Additional 1‑bedroom unit with private entrance, renting for $900/month.
