Renovated 3-Unit
For Sale
$1,150,000
1108 LOCUST Street, Philadelphia, PA 19107
Multi-Family, PHILADELPHIA, PA
Property Size2,380 SF
Lot Size0.02 Acres
Price / SF$483.19
Days on Market99
Property Features for 1108 LOCUST Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Subdivision
WASHINGTON SQ WEST
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,380 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
10820
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
central air conditioning
in-unit washer/dryer
Building Details
Year built
1920
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Anna DePalma · License #RS339336
(215) 490-2992
Added: Jul 15
Changed: Sep 28
Last Checked: Oct 21 at 11:06PM
MLS# PAPH2648290
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.
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Investment Insights
Based on property information with market context.
This 2,380-square-foot masonry triplex, built in 1920, contains three occupied apartments with a practical one-bedroom configuration throughout. The first-floor residence includes a partially finished basement, 1.5 baths, and a flexible bonus room. The second-floor apartment features a renovated kitchen with center island, walk-in closet, and tiled bath, while the third-floor unit also includes a walk-in closet. Each apartment has its own washer and dryer, central air conditioning, and central heating. Separate gas and electric meters and individual water heaters serve the residences.
Located at 1108 Locust Street in Philadelphia’s Washington Square West neighborhood, the property is near cafes, restaurants, boutiques, Pennsylvania Hospital, and Jefferson University Hospital. Transit options include PATCO, the Broad Street Line, Regional Rail, and multiple bus routes.
Located at 1108 Locust Street in Philadelphia’s Washington Square West neighborhood, the property is near cafes, restaurants, boutiques, Pennsylvania Hospital, and Jefferson University Hospital. Transit options include PATCO, the Broad Street Line, Regional Rail, and multiple bus routes.
Key Highlights
- Three occupied 1‑bedroom apartments, including one bi‑level residence with a partially finished basement
- 2,380 square feet on a 0.0236‑acre lot
- Built in 1920 with masonry construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,614
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,280
$812.3K
Cap Rate 7%
$580,200
$580.2K
Cap Rate 9%
$451,267
$451.3K
Market Conditions
NOI Build-Up for 2,380 SF
Gross rent
$61.4K $25.80/SF
− Vacancy
−$3.4K −$1.42/SF
EGI
$58.0K $24.38/SF
− OpEx
−$17.4K −$7.31/SF
NOI
$40.6K $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 Rate 5%
$812,280
Cap Rate 7%
$580,200
Cap Rate 9%
$451,267
Alternative Uses
Best Use
Multifamily LT 5
$580.2K
$507.7K – $676.9K
NOI $40,614 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$534.8K
$468.0K – $623.9K
NOI $37,436 @ 7.0% cap · market cap 3.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
25,174
Businesses Nearby
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Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Masonry construction with central air, central heating, and laundry appliances in each residence.
Where is this triplex located?
The property is located at 1108 LOCUST Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three occupied 1‑bedroom apartments, including one bi‑level residence with a partially finished basement; 2,380 square feet on a 0.0236‑acre lot; Built in 1920 with masonry construction
