Renovated Triplex with
For Sale
$459,990
2315-00 S 12TH Street, Philadelphia, PA 19148
Multi-Family, PHILADELPHIA, PA
Property Size1,888 SF
Lot Size0.02 Acres
Price / SF$243.64
Days on Market148
Property Features for 2315-00 S 12TH Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,888 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
3320
Utilities
Heating system
Heat Pump (Heating), Electric (Heating), Baseboard
Cooling system
Ductless, Wall Unit(s)
Building Details
Year built
1925
Number of units
3
Building materials
Masonry, Stucco
Architectural style
Other
Listing Agency:
Target Realty · Century 21 Real Estate
Listed By:
Shengfei Lin · License #RS330620
(215) 218-0939
Added: Apr 20
Changed: Sep 13
Last Checked: Sep 14 at 11:06PM
MLS# PAPH2610140
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 1,888-square-foot triplex combines two residential apartments with a first-floor commercial storefront. The rear apartment on the first level has one bedroom, while the second-floor residence includes two bedrooms and an outdoor patio. Both residential units have been completely renovated, and each unit is served by a separate electric meter. The storefront is currently vacant and offers space for retail or business use.
Built in 1925, the property is located at 2315-00 S 12TH Street in Philadelphia, within ZIP Code 19148. Construction includes masonry and stucco, with heat pump, electric, and baseboard heating systems plus wall-unit and ductless cooling. The compact parcel contains 0.0228 acres.
Built in 1925, the property is located at 2315-00 S 12TH Street in Philadelphia, within ZIP Code 19148. Construction includes masonry and stucco, with heat pump, electric, and baseboard heating systems plus wall-unit and ductless cooling. The compact parcel contains 0.0228 acres.
Key Highlights
- 1,888‑square‑foot triplex with two apartments and one first‑floor storefront
- Two residential units have been completely renovated
- Vacant commercial storefront supports retail or business use
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
$32,219
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
7.00%
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%
$644,380
$644.4K
Cap Rate 7%
$460,271
$460.3K
Cap Rate 9%
$357,989
$358.0K
Market Conditions
NOI Build-Up for 1,888 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
$48.7K $25.80/SF
− Vacancy
−$2.7K −$1.42/SF
EGI
$46.0K $24.38/SF
− OpEx
−$13.8K −$7.31/SF
NOI
$32.2K $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%
$644,380
Cap Rate 7%
$460,271
Cap Rate 9%
$357,989
Alternative Uses
Best Use
Multifamily LT 5
$460.3K
$402.7K – $537.0K
NOI $32,219 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$424.2K
$371.2K – $495.0K
NOI $29,697 @ 7.0% cap · market cap 6.46%
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
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,688
Businesses Nearby
Explore this area
Business Placement
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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-unit configuration combines two updated apartments with a vacant first-floor commercial space for retail or business use.
Where is this triplex located?
The property is located at 2315-00 S 12TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $459,990.
What are key features of this property?
This property features: 1,888‑square‑foot triplex with two apartments and one first‑floor storefront; Two residential units have been completely renovated; Vacant commercial storefront supports retail or business use
