Fairmount Triplex Investment
924 N 15TH Street, Philadelphia, PA 19130
MULTI_FAMILY - Contemporary - PHILADELPHIA, PA
Property size:
2,469 SFLot size:
0.02 AcresPrice / SF:
$336/SF- Added:
- Sep 21, 2025
- Days on Market:
- 240
- Last Refresh:
- May 18 at 7:06 am
Property Features for 924 N 15TH Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- On Street
- Standard status
- Active
- Size
- 2,469 SF
- Lot size
- 0.02 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2249
Utilities
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 2017
- Number of units
- 3
- Building materials
- Masonry
- Architectural style
- Contemporary
Listing agent LIN LIN DONG License #RS345597 (215) 834-8897
Listing office Realty Mark Associates - KOP 215 W Church Road unit: 203, Philadelphia, PA (215) 376-4444
Listing date Sep 21, 2025
MLS# PAPH2539904
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.
HighLights
- Fully leased triplex generating $5,000 monthly income in the desirable Fairmount neighborhood.
- 10‑year tax abatement in place through 2027, offering significant savings.
- Modern units feature high‑end finishes including quartz countertops, stainless steel appliances, and hardwood flooring.
- Prime location one block from Girard Avenue, close to public transit, I‑76, and cultural attractions.
- Low operating costs with tenants responsible for all utilities except minimal owner expenses.
- Built new in 2017, featuring contemporary construction and modern amenities like Wi‑Fi thermostats and video intercom.
Overview
Located one block from Girard Avenue in Philadelphia's Fairmount neighborhood, this triplex is a fully leased investment opportunity generating $5,000 in monthly rental income. The property contains three modern units with high-end finishes. Unit A, a bi-level 2-bedroom, 2-bathroom apartment on the first floor, is rented for $1,900 per month. Unit B, on the second floor, is a 1-bedroom, 1-bathroom unit rented for $1,300 per month. Unit C, on the third floor, includes 2 bedrooms, 1 bathroom, and a private rooftop deck, rented at $1,800 per month. Tenants are responsible for all utilities, while the owner covers hallway lighting and sprinkler water. All three units feature open kitchens with modern quartz countertops, stainless steel appliances, French door refrigerators, 42" cabinets, and breakfast bars. The interiors include solid birch hardwood flooring, Honeywell Wi-Fi-controlled thermostats, and a video-monitored intercom system. Built in late 2017, the property benefits from a 10-year tax abatement in place through 2027. The property is located steps from public transit on Girard Avenue, minutes from I-76, and a short walk to the Philadelphia Museum of Art, restaurants, shops, and green spaces. The property occupies a 0.0248-acre lot and has a property size of 2469 square feet.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$468.1K
NOI $42,133 @ 9.00% cap · cautious / downside scenario
Moderate
$601.9K
NOI $42,133 @ 7.00% cap · market / base-case scenario
Aggressive
$842.7K
NOI $42,133 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.7k | $25.80 |
| − Vacancy | −$3.5k | −$1.42 |
| EGI | $60.2k | $24.38 |
| − OpEx | −$18.1k | −$7.31 |
| NOI | $42.1k | $17.06 |
2,469 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$601.9K
$526.7K – $702.2K
NOI $42,133 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$554.8K
$485.5K – $647.3K
NOI $38,836 @ 7.0% cap · market cap 4.68%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.16143
- Latitude
- 39.9712
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Fully leased triplex in desirable Fairmount neighborhood, generating $5,000 monthly.
Where is this triplex located?
The property is located at 924 N 15TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Fully leased triplex generating $5,000 monthly income in the desirable Fairmount neighborhood.; 10‑year tax abatement in place through 2027, offering significant savings.; Modern units feature **high‑end finishes** including quartz countertops, stainless steel appliances, and hardwood flooring.
