Occupied Five-Unit Trinity-Style
1037 Crease Street Philadelphia, PA 19125
For Sale
$975,000
Five occupied trinity-style rentals with deeded units, shared pay-per-use laundry, and rear patio plus a private roof deck.
Property Size3,132 SF
Price / SF$311.30
Days on Market282
Property Features for 1037 Crease Street
General Information
- Standard status
- Active
- Size
- 3,132 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1920
Listing Agency:
The Glocker Group Realty Results
(856) 630-4482
Listed By:
Julia Joyce-Hall
(856) 630-4482
Source:
Thetristaterealestategroup
Added: Oct 16, 2025
Changed: Jul 21
Last Checked: Jul 22 at 3:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Glocker Group Realty Results
Investment Insights
Based on property information with market context.
1037 Crease Street is a five-unit, trinity-style rental property with all units currently occupied and described as updated. The mix includes one 2-bedroom, 2-bath unit and four additional 2-bedroom, 1-bath units. Unit #A features a private street entrance into a bright living room, with the kitchen on the lower level and bedrooms and full baths on the upper levels. The center units (#B, #C, and #D) are described with living on the first level, kitchen on the lower level, and bedroom and bath on the second level, with a third-level bedroom that includes tall vaulted ceilings and skylights. The end unit (#E) is described as the largest and includes a private roof deck. A secure breezeway connects the units, and a shared laundry setup is referenced as pay-per-use, along with a rear patio and an enclosed patio area.
The property is located on a hidden block just off Girard Ave & Frankford Ave in Philadelphia’s Fishtown neighborhood, with Walk Score noted as 87. Nearby references in the remarks include Penn Treaty Park, Rivers Casino, and Northern Liberties, along with easy access to public transit and I-95.
The homes are also described as deeded separately, which may allow for individual sales in the future.
The property is located on a hidden block just off Girard Ave & Frankford Ave in Philadelphia’s Fishtown neighborhood, with Walk Score noted as 87. Nearby references in the remarks include Penn Treaty Park, Rivers Casino, and Northern Liberties, along with easy access to public transit and I-95.
The homes are also described as deeded separately, which may allow for individual sales in the future.
Key Highlights
- 5 occupied trinity‑style rentals with deeded units, including one 2‑bed/2‑bath unit and four 2‑bed/1‑bath units
- Shared pay‑per‑use laundry plus a rear patio and an enclosed patio
- Unit #E is the largest unit and includes a private roof deck
Financial Insights For Apartment 5plus
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 | $95.1k | $30.36 |
| − Vacancy | −$5.5k | −$1.76 |
| EGI | $89.6k | $28.60 |
| − OpEx | −$40.3k | −$12.87 |
| NOI | $49.3k | $15.73 |
3,132 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$703.8K
$615.8K – $821.1K
NOI $49,265 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$763.5K
$668.1K – $890.8K
NOI $53,447 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five occupied trinity-style rentals with deeded units, shared pay-per-use laundry, and rear patio plus a private roof deck.
Where is this apartment building located?
The property is located at 1037 Crease Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 5 occupied trinity‑style rentals with deeded units, including one 2‑bed/2‑bath unit and four 2‑bed/1‑bath units; Shared pay‑per‑use laundry plus a rear patio and an enclosed patio; Unit #E is the largest unit and includes a private roof deck
