Philadelphia Triplex Near Temple
For Sale
$699,990
1431 N 17TH Street, Philadelphia, PA 19121
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size4,053 SF
Lot Size0.04 Acres
Price / SF$172.71
Days on Market470
Property Features for 1431 N 17TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
4,053 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3687
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2016
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Target Realty · Century 21 Real Estate
(215) 218-0939
Listed By:
Xiao hui Fu · License #RS350117
(267) 234-4938
Added: May 17, 2025
Changed: Jun 9
Last Checked: Aug 29 at 11:06PM
MLS# PAPH2483590
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 triplex, constructed in 2016, presents an investment opportunity. The property is in very good condition and is located close to Temple University. The building features three apartments. The first floor apartment is a bi-level unit with access to a back yard, covering the first floor and a finished basement. The basement level includes 2 bedrooms, 2 full baths, a living room, and a full-size washer and dryer. The first floor of this unit contains a kitchen, dining room, 3 bedrooms, and 2 full baths. The second floor apartment features 4 bedrooms, 4 baths, a washer and dryer, and a kitchen. The third floor apartment also includes 4 bedrooms, 4 full baths, a washer and dryer, and a kitchen. All apartments feature hardwood and tile floors, tiled showers and bathrooms, and central AC. Each apartment has separate meters for water and electric, with tenants responsible for all utilities. The property's proximity to shopping, public transportation, and Temple University makes it suitable for renting to college students. All apartments are currently tenant occupied. The property, situated on a lot of 0.0447 acres, offers 4053 square feet of living space. It is located in Philadelphia, PA, and is suitable for investment or owner occupancy with rental income from the other apartments.
Key Highlights
- Triplex built in 2016, offering modern construction.
- Close proximity to Temple University, great for consistent tenant pool.
- Each apartment has its own central AC, washer and dryer, kitchen, and separate utility meters.
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
$63,752
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
9.11%
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%
$1,275,040
$1.3M
Cap Rate 7%
$910,743
$910.7K
Cap Rate 9%
$708,356
$708.4K
Market Conditions
NOI Build-Up for 4,053 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
$123.0K $30.36/SF
− Vacancy
−$7.1K −$1.76/SF
EGI
$115.9K $28.60/SF
− OpEx
−$52.2K −$12.87/SF
NOI
$63.8K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,275,040
Cap Rate 7%
$910,743
Cap Rate 9%
$708,356
Alternative Uses
Best Use
Multifamily LT 5
$988.1K
$864.6K – $1.15M
NOI $69,164 @ 7.0% cap · market cap 9.88%
Second Best
Apartment 5plus
$910.7K
$796.9K – $1.06M
NOI $63,752 @ 7.0% cap · market cap 9.11%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
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 - Triplex built in 2016, close to Temple University.
Where is this triplex located?
The property is located at 1431 N 17TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $699,990.
What are key features of this property?
This property features: Triplex built in 2016, offering modern construction.; Close proximity to Temple University, great for consistent tenant pool.; Each apartment has its own central AC, washer and dryer, kitchen, and separate utility meters.
