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Turnkey Triplex with Dedicated HVAC

PHILADELPHIA, PA 19122 Philadelphia, PA 19122

Philadelphia, PA, 19122
$840,000
For Sale
Claim this Listing
$840,000

MULTI_FAMILY - PHILADELPHIA, PA

Property Size2,339 SF
Price / SF$359.13
AddedJun 24
Days on Market22
Last RefreshJul 15 at 4:06 pm

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

Listing office BHHS Fox & Roach Center City-Society Hill PA

Listing date Jun 24, 2026

MLS# PAPH2637066

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.

This fully renovated triplex features three updated 2-bedroom, 1-bath residences, each occupying an entire floor. The units are equipped with modern finishes including open-concept living and dining areas, hardwood flooring, recessed lighting, oversized windows, and contemporary kitchens with stainless steel appliances. Bedrooms are sized for comfortable living and include generous closet space. The top-floor home also includes soaring vaulted ceilings.

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
2,339 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$570.2K
$498.9K – $665.3K (±1% cap)
NOI $39,915 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$525.6K
$459.9K – $613.2K (±1% cap)
NOI $36,791 @ 7.0% cap · market cap 4.38%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

FAQs

What type of property is this?
Triplex - Fully renovated triplex with three 2-bedroom, 1-bath residences, each with its own dedicated HVAC system.
Where is this triplex located?
The property is located at Philadelphia, PA.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: 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
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