Triplex with Finished
For Sale
$425,000
240-42 W GLENWOOD Avenue, Philadelphia, PA 19140
Multi-Family, PHILADELPHIA, PA
Property Size2,467 SF
Lot Size0.03 Acres
Price / SF$172.27
Days on Market88
Property Features for 240-42 W GLENWOOD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
2
Parking features
Off Street, On Street, Garage - Detached
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,467 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
5836
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1915
Number of units
4
Building materials
Masonry
Architectural style
Other
Listing Agency:
Genesis Real Estate Services
(215) 226-6200
Listed By:
Maria I Falu-Rodriguez · License #RM422414
(215) 668-9135
Added: Jun 10
Changed: Sep 2
Last Checked: Sep 5 at 5:06AM
MLS# PAPH2632556
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.
Built in 1915, this masonry triplex contains 2,467 square feet and offers three apartments with upgraded interior finishes, including modern cabinetry, detailed trim, and ceramic tile flooring. A finished basement adds a full bathroom and its own entrance, expanding the property's usable configuration. The first-floor and third-floor apartments are vacant, while the second-floor apartment is occupied under a month-to-month lease.
A detached two-car garage provides off-street parking, supplemented by on-street parking. The garage is separately rented, and the property is located in Philadelphia, Pennsylvania. Heating is listed as Other (Heating), with window-unit cooling.
A detached two-car garage provides off-street parking, supplemented by on-street parking. The garage is separately rented, and the property is located in Philadelphia, Pennsylvania. Heating is listed as Other (Heating), with window-unit cooling.
Key Highlights
- Three‑unit multifamily property with 2,467 square feet
- Finished basement with full bath and separate entrance
- Detached two‑car garage with off‑street parking
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
$38,805
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
9.13%
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%
$776,100
$776.1K
Cap Rate 7%
$554,357
$554.4K
Cap Rate 9%
$431,167
$431.2K
Market Conditions
NOI Build-Up for 2,467 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
$74.9K $30.36/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$70.6K $28.60/SF
− OpEx
−$31.7K −$12.87/SF
NOI
$38.8K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$776,100
Cap Rate 7%
$554,357
Cap Rate 9%
$431,167
Alternative Uses
Best Use
Multifamily LT 5
$601.4K
$526.2K – $701.7K
NOI $42,099 @ 7.0% cap · market cap 9.91%
Second Best
Apartment 5plus
$554.4K
$485.1K – $646.8K
NOI $38,805 @ 7.0% cap · market cap 9.13%
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
2,226
Businesses Nearby
Explore this area
Business Placement
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Masonry triplex with upgraded apartment interiors, a detached garage, and a finished basement with separate access.
Where is this triplex located?
The property is located at 240-42 W GLENWOOD Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 2,467 square feet; Finished basement with full bath and separate entrance; Detached two‑car garage with off‑street parking
