Brick Triplex with
For Sale
Under Contract
$479,900
9878 GARVEY Drive, Philadelphia, PA 19114
Multi-Family, PHILADELPHIA, PA
Property Size1,806 SF
Lot Size0.07 Acres
Price / SF$265.73
Days on Market49
Property Features for 9878 GARVEY Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
4
Parking features
On Street, Driveway
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active Under Contract
Size
1,806 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6254
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
deck
fenced yard
washer/dryer
storage closets
Building Details
Year built
1973
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
RE/MAX Properties · RE/MAX International
(215) 968-7400
Listed By:
Catherine A Boytos · License #RS310711
(215) 892-4335
Added: Jul 21
Changed: Sep 2
Last Checked: Sep 7 at 8:06AM
MLS# PAPH2650244
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 1,806-square-foot triplex, built in 1973, is an all-brick end unit with two two-bedroom, one-bath apartments plus a ground-level efficiency unit. The first-floor apartment includes wood-grain flooring, stainless steel appliances, gas cooking, updated bathroom fixtures, ceiling fans, closet storage, and a composite deck. The second-floor apartment has fresh paint, new carpeting, gas cooking, tile backsplash, and updated bathroom fixtures. The efficiency offers a private ground-level entrance, recessed lighting, ceramic tile, built-in storage, white cabinetry, and a modern full bath.
Common amenities include two large storage closets, a washer and dryer, and access to the backyard. The property also has a four-car driveway, on-street parking, a large deck, and a fully fenced yard. Forced-air heating and central air conditioning serve the building. Located at 9878 Garvey Drive in Philadelphia, Pennsylvania 19114, the property occupies a 0.0745-acre lot.
Common amenities include two large storage closets, a washer and dryer, and access to the backyard. The property also has a four-car driveway, on-street parking, a large deck, and a fully fenced yard. Forced-air heating and central air conditioning serve the building. Located at 9878 Garvey Drive in Philadelphia, Pennsylvania 19114, the property occupies a 0.0745-acre lot.
Key Highlights
- Three‑unit configuration with two 2‑bedroom/1‑bath apartments and a ground‑level efficiency
- 1,806 square feet on a 0.0745‑acre lot
- All‑brick end‑unit construction completed in 1973
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
$30,819
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
6.42%
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%
$616,380
$616.4K
Cap Rate 7%
$440,271
$440.3K
Cap Rate 9%
$342,433
$342.4K
Market Conditions
NOI Build-Up for 1,806 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
$46.6K $25.80/SF
− Vacancy
−$2.6K −$1.42/SF
EGI
$44.0K $24.38/SF
− OpEx
−$13.2K −$7.31/SF
NOI
$30.8K $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%
$616,380
Cap Rate 7%
$440,271
Cap Rate 9%
$342,433
Alternative Uses
Best Use
Multifamily LT 5
$440.3K
$385.2K – $513.7K
NOI $30,819 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$405.8K
$355.1K – $473.5K
NOI $28,408 @ 7.0% cap · market cap 5.92%
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
Location Intelligence
Trade Area within ½ mile
1,021
Businesses Nearby
Explore this area
Business Placement
Demographics for 19114, PA
32,645
Population
14,703
Households
2.2
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
5.6 sq mi
ZIP Area
5,829
Density / Sq Mi
$76,076
Median Household Income
$48,257
Median Earnings
$1,369
Median Rent
$276,400
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 residential units include two two-bedroom apartments and a ground-level efficiency with private entry.
Where is this triplex located?
The property is located at 9878 GARVEY Drive Philadelphia, PA.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Three‑unit configuration with two 2‑bedroom/1‑bath apartments and a ground‑level efficiency; 1,806 square feet on a 0.0745‑acre lot; All‑brick end‑unit construction completed in 1973
