Renovated Triplex With Updated
For Sale
$339,900
4216 WESTMINSTER Avenue, Philadelphia, PA 19104
Multi-Family, PHILADELPHIA, PA
Property Size1,584 SF
Lot Size0.05 Acres
Price / SF$214.58
Days on Market217
Property Features for 4216 WESTMINSTER Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
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
1,584 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6584
Utilities
Heating system
Other (Heating)
Cooling system
Central Air
Amenities
central AC
luxury vinyl plank flooring
keyless entry
intercom system
Ring cameras
washer/dryer
Building Details
Year built
1925
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
Elan Elkaim · License #RS316148
(215) 960-9537
Added: Jan 30
Changed: Sep 1
Last Checked: Sep 4 at 12:06AM
MLS# PAPH2570012
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 1,584-square-foot masonry triplex, built in 1925, contains three renovated residences: a tenant-occupied studio, a vacant one-bedroom with private yard, and a tenant-occupied two-bedroom. Interiors include contemporary kitchens with quartz counters, shaker cabinetry, subway-tile backsplashes, and GE appliances. Updated baths, luxury vinyl plank flooring, central air, keyless entry, and an intercom system add consistent functionality across the building. Ring cameras monitor the front and rear, while shared laundry is located in the basement.
The property is in Philadelphia’s Belmont neighborhood within West Philadelphia. Bus routes 10, 43, and 40 provide nearby public transportation, and the property offers access to major highways. The Philadelphia Zoo, Please Touch Museum, Art Museum, Franklin Institute, and Barnes Foundation are minutes away, with Drexel University, University of Pennsylvania, and University of the Sciences also in the surrounding area.
The property is in Philadelphia’s Belmont neighborhood within West Philadelphia. Bus routes 10, 43, and 40 provide nearby public transportation, and the property offers access to major highways. The Philadelphia Zoo, Please Touch Museum, Art Museum, Franklin Institute, and Barnes Foundation are minutes away, with Drexel University, University of Pennsylvania, and University of the Sciences also in the surrounding area.
Key Highlights
- Three renovated units: studio, one‑bedroom, and two‑bedroom
- 1,584 square feet on a 0.0459‑acre lot
- Unit 1 and Unit 3 are tenant‑occupied; Unit 2 is vacant and includes a private yard
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
$27,031
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
7.95%
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%
$540,620
$540.6K
Cap Rate 7%
$386,157
$386.2K
Cap Rate 9%
$300,344
$300.3K
Market Conditions
NOI Build-Up for 1,584 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
$40.9K $25.80/SF
− Vacancy
−$2.3K −$1.42/SF
EGI
$38.6K $24.38/SF
− OpEx
−$11.6K −$7.31/SF
NOI
$27.0K $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%
$540,620
Cap Rate 7%
$386,157
Cap Rate 9%
$300,344
Alternative Uses
Best Use
Multifamily LT 5
$386.2K
$337.9K – $450.5K
NOI $27,031 @ 7.0% cap · market cap 7.95%
Second Best
Apartment 5plus
$355.9K
$311.5K – $415.3K
NOI $24,916 @ 7.0% cap · market cap 7.33%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,162
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Masonry income property with central air, in-unit upgrades, basement laundry, and a mix of occupied and vacant residences.
Where is this triplex located?
The property is located at 4216 WESTMINSTER Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Three renovated units: studio, one‑bedroom, and two‑bedroom; 1,584 square feet on a 0.0459‑acre lot; Unit 1 and Unit 3 are tenant‑occupied; Unit 2 is vacant and includes a private yard
