Philadelphia Triplex in Desirable
For Sale
$649,900
2022 OGDEN Street, Philadelphia, PA 19130
MULTI_FAMILY - Colonial - PHILADELPHIA, PA
Property Size1,680 SF
Lot Size0.04 Acres
Price / SF$386.85
Days on Market380
Property Features for 2022 OGDEN Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,680 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
7512
Utilities
Heating system
Baseboard, Hot Water(Heating)
Building Details
Year built
1920
Number of units
3
Building materials
Masonry
Architectural style
Colonial
Listing Agency:
RE/MAX Access · RE/MAX International
(215) 400-2600
Listed By:
Steven Osiecki · License #RM420757
(215) 400-2617
Added: Jul 28, 2025
Changed: Jul 13
Last Checked: Aug 11 at 3:06PM
MLS# PAPH2521288
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 rarely offered triplex is located in a desirable Philadelphia neighborhood. The property contains three units. The first floor unit is a bi-level apartment with 2 bedrooms and 2 bathrooms, encompassing 1550 square feet, and has access to the rear yard; its lease ends in October 2026. The second floor unit features 1 bedroom and 1 bathroom within its 1200 square feet; its lease expires in February 2026. The third floor is an 850-square-foot efficiency unit with 1 bathroom, currently rented on a month-to-month basis. The property is a legal 3-unit building, situated close to Center City, Eastern State Penitentiary, shopping areas, and Fairmount Park. The property size is 1680 square feet and the lot size is 0.0356 acres, making it a solid investment opportunity.
Key Highlights
- Legal 3‑unit triplex with 1st-, 2nd-, and 3rd‑floor units
- 1st floor unit: 2 bed, 2 bath bi‑level layout with access to rear yard; lease ends 10/26
- 2nd floor unit: 1 bed, 1 bath; rent $1,200; lease expiration 2/26
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
$28,669
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
4.41%
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%
$573,380
$573.4K
Cap Rate 7%
$409,557
$409.6K
Cap Rate 9%
$318,544
$318.5K
Market Conditions
NOI Build-Up for 1,680 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
$43.3K $25.80/SF
− Vacancy
−$2.4K −$1.42/SF
EGI
$41.0K $24.38/SF
− OpEx
−$12.3K −$7.31/SF
NOI
$28.7K $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%
$573,380
Cap Rate 7%
$409,557
Cap Rate 9%
$318,544
Alternative Uses
Best Use
Multifamily LT 5
$409.6K
$358.4K – $477.8K
NOI $28,669 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$377.5K
$330.3K – $440.4K
NOI $26,426 @ 7.0% cap · market cap 4.07%
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
Location Intelligence
Trade Area within ½ mile
2,806
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
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 - Rare triplex near Center City, shopping, and Fairmount Park.
Where is this triplex located?
The property is located at 2022 OGDEN Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Legal 3‑unit triplex with 1st-, 2nd-, and 3rd‑floor units; 1st floor unit: 2 bed, 2 bath bi‑level layout with access to rear yard; lease ends 10/26; 2nd floor unit: 1 bed, 1 bath; rent $1,200; lease expiration 2/26
