Renovated Triplex with Central
For Sale
Under Contract
$464,900
1493 N 53RD Street, Philadelphia, PA 19131
Multi-Family, PHILADELPHIA, PA
Property Size1,775 SF
Lot Size0.02 Acres
Price / SF$261.92
Days on Market43
Property Features for 1493 N 53RD Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
High school
OVERBROOK
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active Under Contract
Size
1,775 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
2341
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1925
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Century 21 Advantage Gold-Southampton · Century 21 Real Estate
(215) 322-7050
Listed By:
Connery Koski · License #AB069215
(215) 954-4414
Added: Aug 1
Changed: Sep 9
Last Checked: Sep 12 at 8:06PM
MLS# PAPH2655082
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 masonry triplex contains 1,775 square feet and was built in 1925. The renovated property includes three apartments: a one-bedroom unit at the first-floor level and two two-bedroom units above. Interior improvements include plank flooring, recessed lighting, shaker cabinetry, quartz countertops, stainless-steel appliances, and updated bathrooms with tiled surrounds, shower niches, contemporary vanities, and matte-black fixtures.
The building operates on fully electric service with separate meters for each apartment. Individual central-air systems serve the units, while forced-air heating provides additional mechanical infrastructure. The property is located at 1493 N 53rd Street in Philadelphia, Pennsylvania 19131, and includes a basement.
The building operates on fully electric service with separate meters for each apartment. Individual central-air systems serve the units, while forced-air heating provides additional mechanical infrastructure. The property is located at 1493 N 53rd Street in Philadelphia, Pennsylvania 19131, and includes a basement.
Key Highlights
- Renovated triplex with 1,775 square feet of building area
- Unit mix includes one 1‑bedroom apartment and two 2‑bedroom apartments
- Separate electric meters serve each apartment
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
$30,290
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
6.52%
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%
$605,800
$605.8K
Cap Rate 7%
$432,714
$432.7K
Cap Rate 9%
$336,556
$336.6K
Market Conditions
NOI Build-Up for 1,775 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
$45.8K $25.80/SF
− Vacancy
−$2.5K −$1.42/SF
EGI
$43.3K $24.38/SF
− OpEx
−$13.0K −$7.31/SF
NOI
$30.3K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /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%
$605,800
Cap Rate 7%
$432,714
Cap Rate 9%
$336,556
Alternative Uses
Best Use
Multifamily LT 5
$432.7K
$378.6K – $504.8K
NOI $30,290 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$398.9K
$349.0K – $465.3K
NOI $27,920 @ 7.0% cap · market cap 6.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,162
Businesses Nearby
Explore this area
Business Placement
Demographics for 19131, PA
42,705
Population
22,826
Households
1.9
Avg Household Size
38
Median Age
30%
College-Educated
92%
High-School Grad
5.3 sq mi
ZIP Area
8,058
Density / Sq Mi
$46,057
Median Household Income
$40,052
Median Earnings
$1,312
Median Rent
$163,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Three updated apartments include one one-bedroom layout and two two-bedroom layouts.
Where is this triplex located?
The property is located at 1493 N 53RD Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $464,900.
What are key features of this property?
This property features: Renovated triplex with 1,775 square feet of building area; Unit mix includes one 1‑bedroom apartment and two 2‑bedroom apartments; Separate electric meters serve each apartment
