Three-Unit Apartment
For Sale
$665,000
4122 CHESTER Avenue, Philadelphia, PA 19104
Multi-Family, PHILADELPHIA, PA
Property Size2,805 SF
Lot Size0.04 Acres
Price / SF$237.08
Days on Market162
Property Features for 4122 CHESTER Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
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
2,805 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
10690
Utilities
Heating system
Electric (Heating), Baseboard, Hot Water(Heating)
Amenities
washer/dryer in unit
hardwood floors
Building Details
Year built
1930
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Target Realty · Century 21 Real Estate
(215) 218-0939
Listed By:
Xiao hui Fu · License #RS350117
(267) 234-4938
Added: Apr 7
Changed: Sep 13
Last Checked: Sep 15 at 12:06AM
MLS# PAPH2604994
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 legal triplex contains 2,805 square feet within a masonry building constructed in 1930. The first-floor residence offers three bedrooms, one bathroom, a full unfinished basement, and access to the backyard. The second floor has two bedrooms and one bathroom, while the third-floor unit includes three bedrooms and two full bathrooms. Each apartment has its own washer and dryer, and hardwood flooring runs throughout the building. The property is being sold in as-is condition.
Located in Philadelphia’s University City, the building is near the University of the Sciences, Penn, HUP, CHOP, Drexel, Presby, and the Science Center. The Green Line hub is one block away, with Center City approximately 12 minutes by car or bike. Clark Park, its farmers’ market, restaurants, a movie theater, Green Line Coffee, and Fresh Grocer near 40th & Walnut are also nearby. The property falls within the Penn Alexander School catchment.
Located in Philadelphia’s University City, the building is near the University of the Sciences, Penn, HUP, CHOP, Drexel, Presby, and the Science Center. The Green Line hub is one block away, with Center City approximately 12 minutes by car or bike. Clark Park, its farmers’ market, restaurants, a movie theater, Green Line Coffee, and Fresh Grocer near 40th & Walnut are also nearby. The property falls within the Penn Alexander School catchment.
Key Highlights
- Three‑unit legal apartment building with 2,805 square feet
- Unit mix includes two 3‑bedroom apartments and one 2‑bedroom apartment
- All units are fully occupied
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
$47,867
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
7.20%
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%
$957,340
$957.3K
Cap Rate 7%
$683,814
$683.8K
Cap Rate 9%
$531,856
$531.9K
Market Conditions
NOI Build-Up for 2,805 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
$72.4K $25.80/SF
− Vacancy
−$4.0K −$1.42/SF
EGI
$68.4K $24.38/SF
− OpEx
−$20.5K −$7.31/SF
NOI
$47.9K $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%
$957,340
Cap Rate 7%
$683,814
Cap Rate 9%
$531,856
Alternative Uses
Best Use
Multifamily LT 5
$683.8K
$598.3K – $797.8K
NOI $47,867 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$630.3K
$551.5K – $735.4K
NOI $44,121 @ 7.0% cap · market cap 6.63%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,483
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied triplex with in-unit laundry, hardwood flooring, and a basement with backyard access.
Where is this triplex located?
The property is located at 4122 CHESTER Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Three‑unit legal apartment building with 2,805 square feet; Unit mix includes two 3‑bedroom apartments and one 2‑bedroom apartment; All units are fully occupied
