Three-Unit Triplex with Roof
For Sale
$475,000
3217 TURNER Street, Philadelphia, PA 19121
MULTI_FAMILY - PHILADELPHIA, PA
Property Size1,752 SF
Lot Size0.03 Acres
Price / SF$271.12
Days on Market30
Property Features for 3217 TURNER Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
2
Parking features
On Street, Driveway
Subdivision
STRAWBERRY MANSION
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,752 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
5260
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
central A/C
small roof deck
full basement
Building Details
Year built
1915
Number of units
3
Building materials
Brick, Stucco
Listing Agency:
Redfin Corporation
(484) 962-0034
Listed By:
Brenda R Beiser · License #RS335119
(267) 796-4769
Added: Jul 29
Changed: Aug 14
Last Checked: Aug 27 at 9:06AM
MLS# PAPH2653634
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.
Fully rented three-unit triplex in the Strawberry Mansion area of Philadelphia, built in 1915. The home is configured as three two-bedroom units and includes a small roof deck for outdoor space. A full basement provides additional storage, and the property is heated and cooled with central systems.
The property includes off-street parking for two vehicles, along with on-street parking, with driveway access. Construction materials include brick and stucco. Lot size is 0.0341 acres, and the building size is 1,752 square feet.
This layout and amenity set make the property straightforward for occupants seeking in-unit comfort supported by central HVAC, plus basement storage and a modest outdoor deck.
The property includes off-street parking for two vehicles, along with on-street parking, with driveway access. Construction materials include brick and stucco. Lot size is 0.0341 acres, and the building size is 1,752 square feet.
This layout and amenity set make the property straightforward for occupants seeking in-unit comfort supported by central HVAC, plus basement storage and a modest outdoor deck.
Key Highlights
- Three two‑bedroom units, fully rented
- 0.0341‑acre lot
- 1,752 SF triplex building
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
$29,898
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
6.29%
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%
$597,960
$598.0K
Cap Rate 7%
$427,114
$427.1K
Cap Rate 9%
$332,200
$332.2K
Market Conditions
NOI Build-Up for 1,752 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
$45.2K $25.80/SF
− Vacancy
−$2.5K −$1.42/SF
EGI
$42.7K $24.38/SF
− OpEx
−$12.8K −$7.31/SF
NOI
$29.9K $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%
$597,960
Cap Rate 7%
$427,114
Cap Rate 9%
$332,200
Alternative Uses
Best Use
Multifamily LT 5
$427.1K
$373.7K – $498.3K
NOI $29,898 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$393.7K
$344.5K – $459.3K
NOI $27,558 @ 7.0% cap · market cap 5.80%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
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 - Fully rented triplex with three two-bedroom units, central A/C, a full basement, off-street parking for two vehicles, and a small roof deck.
Where is this triplex located?
The property is located at 3217 TURNER Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three two‑bedroom units, fully rented; 0.0341‑acre lot; 1,752 SF triplex building
