Occupied Four-Unit Multifamily
New
For Sale
$683,000
1528-00 N 18TH Street, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size2,698 SF
Lot Size0.05 Acres
Price / SF$253.15
Days on Market1
Property Features for 1528-00 N 18TH Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking features
On Street
Subdivision
TEMPLE UNIVERSITY
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,698 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7616
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1915
Number of units
4
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
Lisa Pho
(856) 426-7087
Added: Sep 18
Last Checked: Sep 18 at 7:06PM
MLS# PAPH2671078
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 2,698-square-foot quadplex contains four occupied residential units within a 1915 masonry building. The property includes a basement, forced-air heating, central air conditioning, and on-street parking. Tenants are responsible for their own utilities, providing a defined operating arrangement for the owner.
Located at 1528-00 N 18th Street in Philadelphia, the property is in the Temple University area and near public transportation, shopping, and neighborhood amenities. The 0.0503-acre parcel supports an established multifamily use in a built-out urban setting.
Located at 1528-00 N 18th Street in Philadelphia, the property is in the Temple University area and near public transportation, shopping, and neighborhood amenities. The 0.0503-acre parcel supports an established multifamily use in a built-out urban setting.
Key Highlights
- Four occupied residential units in a quadplex configuration
- 2,698 square feet on a 0.0503‑acre parcel
- Tenants pay all utilities
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
$46,041
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
6.74%
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%
$920,820
$920.8K
Cap Rate 7%
$657,729
$657.7K
Cap Rate 9%
$511,567
$511.6K
Market Conditions
NOI Build-Up for 2,698 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
$69.6K $25.80/SF
− Vacancy
−$3.8K −$1.42/SF
EGI
$65.8K $24.38/SF
− OpEx
−$19.7K −$7.31/SF
NOI
$46.0K $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%
$920,820
Cap Rate 7%
$657,729
Cap Rate 9%
$511,567
Alternative Uses
Best Use
Multifamily LT 5
$657.7K
$575.5K – $767.4K
NOI $46,041 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$606.3K
$530.5K – $707.3K
NOI $42,438 @ 7.0% cap · market cap 6.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,184
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
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?
Quadplex - Fully occupied four-unit building with tenant-paid utilities and central air.
Where is this quadplex located?
The property is located at 1528-00 N 18TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $683,000.
What are key features of this property?
This property features: Four occupied residential units in a quadplex configuration; 2,698 square feet on a 0.0503‑acre parcel; Tenants pay all utilities
