Quadplex with Updated Building
New
For Sale
$599,000
3131 FRANKFORD Avenue, Philadelphia, PA 19134
Multi-Family, PHILADELPHIA, PA
Property Size3,416 SF
Lot Size0.04 Acres
Price / SF$175.35
Days on Market1
Property Features for 3131 FRANKFORD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
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
3,416 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
1300
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1910
Number of units
4
Building materials
Masonry
Architectural style
Victorian, Colonial
Listing Agency:
Keller Williams Realty - Moorestown
(856) 316-1100
Listed By:
Isis Yovana Toledo Rosas · License #RS375314
(215) 740-2068
Added: Sep 7
Last Checked: Sep 7 at 9:06PM
MLS# PAPH2662320
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 3,416-square-foot quadplex, built in 1910, is configured across four levels with a basement, first floor, second floor, and third floor. The planned unit mix includes two three-bedroom, one-bath units, a two-bedroom, one-bath unit, and a one-bedroom, one-bath unit. The first-floor residence is ADA compliant. Interior completion remains necessary, including drywall, flooring, and kitchen and bathroom installation.
Completed property work includes metal framing, a sprinkler system, rubber roofing, windows, electrical service, and plumbing. Central heating and central air are installed, while parking is available on street. The property is zoned RM-1, which permits a quadplex by right.
Completed property work includes metal framing, a sprinkler system, rubber roofing, windows, electrical service, and plumbing. Central heating and central air are installed, while parking is available on street. The property is zoned RM-1, which permits a quadplex by right.
Key Highlights
- 3,416‑square‑foot quadplex on a 0.0354‑acre lot
- RM‑1 zoning permits a quadplex by right
- Four‑level layout with 4 residential units
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
$53,732
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
8.97%
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%
$1,074,640
$1.1M
Cap Rate 7%
$767,600
$767.6K
Cap Rate 9%
$597,022
$597.0K
Market Conditions
NOI Build-Up for 3,416 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
$103.7K $30.36/SF
− Vacancy
−$6.0K −$1.76/SF
EGI
$97.7K $28.60/SF
− OpEx
−$44.0K −$12.87/SF
NOI
$53.7K $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%
$1,074,640
Cap Rate 7%
$767,600
Cap Rate 9%
$597,022
Alternative Uses
Best Use
Multifamily LT 5
$832.8K
$728.7K – $971.6K
NOI $58,294 @ 7.0% cap · market cap 9.73%
Second Best
Apartment 5plus
$767.6K
$671.7K – $895.5K
NOI $53,732 @ 7.0% cap · market cap 8.97%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
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?
Quadplex - RM-1 zoning permits four residential units by right, with interiors ready for completion.
Where is this quadplex located?
The property is located at 3131 FRANKFORD Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 3,416‑square‑foot quadplex on a 0.0354‑acre lot; RM‑1 zoning permits a quadplex by right; Four‑level layout with 4 residential units
