New Triplex in Point
1702 S 22ND Street Philadelphia, PA 19145
1702 S 22ND Street, Philadelphia, PA, 19145
$899,000
For Sale
$899,000
MULTI_FAMILY - Contemporary - PHILADELPHIA, PA
Property Size4,000 SF
Lot Size0.02 Acres
Price / SF$224.75
Days on Market141
Property Features for 1702 S 22ND Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- Under Construction
- Rooms
- Dining Room, Basement
- Parking features
- On Street
- Interior features
- Combination Dining/Living
- Appliances
- Built-In Microwave, Built-In Range, Dishwasher, Dryer, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer
- Standard status
- Active
- Size
- 4,000 SF
- Lot size
- 0.02 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6118
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 2024
- Number of units
- 3
- Building materials
- Masonry
- Architectural style
- Contemporary
Listing Agency
Coldwell Banker Realty
(215) 923-7600
325 Chestnut Street unit: 1300, Plymouth Meeting, PA
Listed by
Frank Altamuro · License #RS297004
(215) 495-2348
Added: Feb 27 Checked: Jul 18 at 2:06 pm
MLS# PAPH2587390
Listing URL
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 brand-new construction triplex is located in the Point Breeze neighborhood. The property features three designed units with modern finishes, hardwood flooring, and natural light. Unit One, currently rented, includes an open-concept living and kitchen area with stainless steel appliances, white cabinets, quartz countertops, and a backsplash. It also features two first-floor bedrooms, a rear bedroom that opens to a spacious yard, a lower-level bedroom or flex space, and two full bathrooms. Unit Two has two bedrooms, two full bathrooms including a master en suite, a kitchen with stainless steel appliances and quartz finishes, and a stackable washer/dryer. Additional breezeway windows enhance sunlight. Unit Three includes two bedrooms with a master en suite, a modern kitchen, a stackable washer/dryer, and a private rooftop deck with views. All units include microwaves, refrigerators, and electric stoves. The property is located blocks from the Broad Street Line and close to Center City, the sports district, restaurants, major highways, and bridges. The property is situated on a lot of 0.0242 acres and the property size is 4000 square feet. The property is suitable for investors seeking rental income, owner-occupants, or multi-generational living. The property has an estimate of 9 years left on the tax abatement.
Key Highlights
- Many years (estimate 9) remaining on the tax abatement.
- Brand new construction triplex with three modern units.
- Each unit features modern kitchens with stainless steel appliances and quartz countertops.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.2k | $25.80 |
| − Vacancy | −$5.7k | −$1.42 |
| EGI | $97.5k | $24.38 |
| − OpEx | −$29.3k | −$7.31 |
| NOI | $68.3k | $17.06 |
4,000 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$975.1K
$853.3K – $1.14M
NOI $68,260 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$898.8K
$786.5K – $1.05M
NOI $62,918 @ 7.0% cap · market cap 7.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Modern triplex with tax abatement and convenient location.
Where is this triplex located?
The property is located at 1702 S 22ND Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Many years (estimate 9) remaining on the tax abatement.; Brand new construction triplex with three modern units.; Each unit features modern kitchens with stainless steel appliances and quartz countertops.
