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    The Largest CRE Database in the US with Over 1 Million Listings

    3800 Spring Garden St Philadelphia, PA 19104

    Sponsored
    For Sale
    $638,000

    MULTI_FAMILY - PHILADELPHIA, PA

    Property size:
    2,499 SF
    Lot size:
    0.02 Acres
    Days on Market:
    3
    Last Refresh:
    Feb 4 at 6:06 pm

    Property Features for 3800 Spring Garden St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    Parking features
    On Street
    Size
    2,499 SF
    Lot size
    0.02 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Number of units
    3
    Building materials
    Masonry

    We can help!

    Listing Contact
    Margaret McCain

    Coldwell Banker Residential Brokerage (609) 921-1411

    Listing agent Margaret McCain (609) 291-9400 License #RS363819

    Listing date Feb 2, 2026

    MLS# PAPH2540174 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Turnkey Triplex in Powelton Village

    Located in the Powelton Village/University City area of Philadelphia, this corner triplex at 3800 Spring Garden Street is a fully occupied property. The location benefits from its proximity to Drexel University, the University of Pennsylvania, CHOP, and Presbyterian Hospital. The property is fully leased with tenants in place, providing immediate income. Operating at an approximate 5%+ cap rate based on current rents and expenses, this property is suited for buy-and-hold investors. Each unit features efficient layouts and updated bathrooms. The building includes separate electric meters, shared basement laundry, and accessible basement mechanicals. The property consists of three units: one unit with one bedroom and one bath with a private side patio, and two units with two bedrooms and one bath each. Powelton Village shows strong rental performance with potential for future rent growth. This property offers stable cash flow with the opportunity to enhance returns over time. It is an opportunity for investors seeking immediate income and long-term value in a Philadelphia rental market. The property size is 2499 square feet and the lot size is 0.02 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.1973
    Latitude
    39.9621

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    FAQs

    What type of property is this?
    Triplex - Fully leased triplex with 5%+ cap rate in Philadelphia.
    Where is this triplex located?
    The property is located at 3800 Spring Garden St Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $638,000.
    What are key features of this property?
    This property features: - Fully Leased Triplex with 5%+ Cap Rate, providing immediate and stable income.; - Prime Location in Powelton Village/University City near Drexel, UPenn, CHOP, Presbyterian, ensuring consistent tenant demand.; - Turnkey Investment Property ready for immediate ownership with reliable tenants.
    (609) 970-3075
    Request Owner's contact information
    3800 Spring Garden St Philadelphia, PA 19104
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    Philadelphia, PA 19104
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3800 Spring Garden St Philadelphia, PA 19104
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    We can help!
    Listing Contact
    Margaret McCain
    Real Estate License ID: 1864188
    (609) 970-3075
    Learn more
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