PHILADELPHIA, PA 19122 Philadelphia, PA 19122
MULTI_FAMILY - PHILADELPHIA, PA
Property Features
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 2,339 SF
Building Details
- Year built
- 1915
Listing agent Kevin Wilkins (267) 251-0405
Listing office BHHS Fox & Roach Center City-Society Hill PA (215) 627-6005
Listing date Jun 24, 2026
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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.
Located in Olde Kensington along the Germantown Avenue corridor, the property is positioned in a growing redevelopment area surrounded by new construction, townhomes, and additional multifamily and commercial activity.
Ownership is designed for straightforward operations, with each apartment having its own dedicated HVAC system featuring central air and gas heat. Utilities are separately metered, with the exception of water, supporting easier unit-by-unit expense management.
Key Highlights
- Fully renovated triplex at 1633 Germantown Avenue (built 1915) in Olde Kensington along the Germantown Avenue corridor
- Three apartments, each a 2‑bedroom/1‑bath with its own entire‑floor layout
- Renovations include open‑concept living/dining, hardwood floors, recessed lighting, oversized windows, and contemporary kitchens with stainless steel appliances
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.3k | $25.80 |
| − Vacancy | −$3.3k | −$1.42 |
| EGI | $57.0k | $24.38 |
| − OpEx | −$17.1k | −$7.31 |
| NOI | $39.9k | $17.06 |