Renovated
For Sale
$475,000
1118 W LEHIGH AVE, Philadelphia, PA 19133
Three two-bedroom, two-bath units feature updated kitchens, central air, and practical floor plans.
Property Size2,316 SF
Price / SF$205.09
Days on Market212
Property Features for 1118 W LEHIGH AVE
General Information
Standard status
Active
Size
2,316 SF
Property subtype
Multi-family
Zoning
RM1
Site & Location
Neighborhood
North Philadelphia
Public Transit
Yes
Units
Unit Mix
3 x 2BR/2BA
Multifamily Units
3
Building Details
Year Renovated
2022
Buildings
1
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
Carlos Masip · License #AB068852
(267) 456-0448
Source:
360
Added: Apr 3
Changed: Oct 25
Last Checked: Oct 30 at 1:48PM
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 KW Empower
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Investment Insights
Based on property information with market context.
This renovated triplex contains three two-bedroom, two-bath residences with functional layouts, high ceilings, and good natural light. Improvements completed in 2022 include refreshed kitchens with modern cabinetry and stainless steel appliances, central air, and efficient electric systems. The first-floor residence is vacant and opens to a private rear patio, while the other two units are occupied.
The property is zoned RM1 and situated near Broad Street in Philadelphia. Its location provides access to public transportation and major corridors, with neighborhood development continuing in the surrounding area.
The property is zoned RM1 and situated near Broad Street in Philadelphia. Its location provides access to public transportation and major corridors, with neighborhood development continuing in the surrounding area.
Key Highlights
- Three 2‑bedroom, 2‑bath units
- Renovated in 2022 with updated kitchens and stainless steel appliances
- Central air and efficient electric systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,522
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$790,440
$790.4K
Cap Rate 7%
$564,600
$564.6K
Cap Rate 9%
$439,133
$439.1K
Market Conditions
NOI Build-Up for 2,316 SF
Gross rent
$59.8K $25.80/SF
− Vacancy
−$3.3K −$1.42/SF
EGI
$56.5K $24.38/SF
− OpEx
−$16.9K −$7.31/SF
NOI
$39.5K $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%
$790,440
Cap Rate 7%
$564,600
Cap Rate 9%
$439,133
Alternative Uses
Best Use
Multifamily LT 5
$564.6K
$494.0K – $658.7K
NOI $39,522 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$520.4K
$455.4K – $607.2K
NOI $36,430 @ 7.0% cap · market cap 7.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,103
Businesses Nearby
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Business Placement
Demographics for 19133, PA
24,772
Population
10,766
Households
2.3
Avg Household Size
34
Median Age
7%
College-Educated
63%
High-School Grad
1.3 sq mi
ZIP Area
19,055
Density / Sq Mi
$31,756
Median Household Income
$26,563
Median Earnings
$919
Median Rent
$85,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom, two-bath units feature updated kitchens, central air, and practical floor plans.
Where is this triplex located?
The property is located at 1118 W LEHIGH AVE Philadelphia, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three 2‑bedroom, 2‑bath units; Renovated in 2022 with updated kitchens and stainless steel appliances; Central air and efficient electric systems
