Victorian Triplex with Private
For Sale
$349,999
5241-00 WALNUT Street, Philadelphia, PA 19139
MULTI_FAMILY - Victorian - PHILADELPHIA, PA
Property Size1,500 SF
Lot Size0.04 Acres
Price / SF$233.33
Days on Market52
Property Features for 5241-00 WALNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Appliances
Dryer, Oven/Range - Electric, Refrigerator, Washer
Subdivision
SPRUCE HILL
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
1,500 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3149
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1925
Number of units
3
Building materials
Masonry
Architectural style
Victorian
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Deidre M Quinn · License #RS276819
(267) 225-3678
Added: Jun 25
Changed: Jul 23
Last Checked: Aug 15 at 1:06AM
MLS# PAPH2640810
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 well maintained Victorian triplex is configured as three separate apartments, each with two bedrooms and one bathroom and its own floor. The second-floor unit is currently vacant, offering flexibility for an owner occupant or for immediate leasing. The first-floor apartment includes its own private entrance and direct access to the rear yard, along with an unfinished basement that can serve as additional storage or utility space.
Each apartment is equipped with its own HVAC system for central heating and air conditioning, plus in-unit washer and dryer. Hot water is handled by a separate water heater for each unit, and water, gas, and electric are individually metered to each apartment. For common-area power, there is a separate electrical meter serving the property.
The property is located at 5241 Walnut Street in Philadelphia’s Spruce Hill neighborhood, positioned within the University City area. The area is described as providing access to the University of Pennsylvania and Drexel University, as well as Penn Medicine and Children’s Hospital of Philadelphia. Public transportation options cited in the remarks include SEPTA trolley routes, the Market Frankford Line, regional rail connections, and nearby 30th Street Station. This layout and utility setup are practical for tenants seeking in-unit laundry and independent climate control across a three-unit income property.
Each apartment is equipped with its own HVAC system for central heating and air conditioning, plus in-unit washer and dryer. Hot water is handled by a separate water heater for each unit, and water, gas, and electric are individually metered to each apartment. For common-area power, there is a separate electrical meter serving the property.
The property is located at 5241 Walnut Street in Philadelphia’s Spruce Hill neighborhood, positioned within the University City area. The area is described as providing access to the University of Pennsylvania and Drexel University, as well as Penn Medicine and Children’s Hospital of Philadelphia. Public transportation options cited in the remarks include SEPTA trolley routes, the Market Frankford Line, regional rail connections, and nearby 30th Street Station. This layout and utility setup are practical for tenants seeking in-unit laundry and independent climate control across a three-unit income property.
Key Highlights
- Three‑story triplex built in 1925 with Victorian architecture and masonry construction
- Each unit is a 2 bed, 1 bath apartment with its own floor in the triplex layout
- Second‑floor unit is currently vacant, offering options for owner occupancy or leasing at market rents
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
$25,597
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
7.31%
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%
$511,940
$511.9K
Cap Rate 7%
$365,671
$365.7K
Cap Rate 9%
$284,411
$284.4K
Market Conditions
NOI Build-Up for 1,500 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
$38.7K $25.80/SF
− Vacancy
−$2.1K −$1.42/SF
EGI
$36.6K $24.38/SF
− OpEx
−$11.0K −$7.31/SF
NOI
$25.6K $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%
$511,940
Cap Rate 7%
$365,671
Cap Rate 9%
$284,411
Alternative Uses
Best Use
Multifamily LT 5
$365.7K
$320.0K – $426.6K
NOI $25,597 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$337.1K
$294.9K – $393.2K
NOI $23,594 @ 7.0% cap · market cap 6.74%
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,332
Businesses Nearby
Explore this area
Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
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 - Three separate two-bedroom, one-bath units with individual HVAC and utilities; first-floor unit has private entrance and basement access.
Where is this triplex located?
The property is located at 5241-00 WALNUT Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: Three‑story triplex built in 1925 with Victorian architecture and masonry construction; Each unit is a 2 bed, 1 bath apartment with its own floor in the triplex layout; Second‑floor unit is currently vacant, offering options for owner occupancy or leasing at market rents
