Triplex Property with Separate
For Sale
$460,000
115 E Gorgas Ln, Philadelphia, PA 19119
Independent heating, utility, and fire-safety infrastructure supports the property’s multi-unit configuration.
Property Size1,986 SF
Price / SF$231.62
Days on Market57
Property Features for 115 E Gorgas Ln
General Information
Standard status
Active
Size
1,986 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
TLC
Building Details
Year Built
1932
Listing Agency:
Mount Airy Real Estate
Listed By:
William Qaadir Logan · License #RM419957
(215) 848-6030
Source:
Upgradebymichaud
Added: Aug 20
Changed: Oct 9
Last Checked: Oct 15 at 4:37AM
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 Mount Airy Real Estate
Investment Insights
Based on property information with market context.
This Philadelphia triplex includes separate heating systems and utilities, along with a hardwired fire alarm system. The property is positioned as a renovation project requiring a new ownership plan and hands-on improvements.
Located at 115 E Gorgas Ln in Philadelphia, the building offers a defined multi-unit asset for an owner evaluating a residential income property with existing utility separation and fire-safety infrastructure.
Located at 115 E Gorgas Ln in Philadelphia, the building offers a defined multi-unit asset for an owner evaluating a residential income property with existing utility separation and fire-safety infrastructure.
Key Highlights
- Triplex property in Philadelphia
- Separate heating systems
- Separate utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,891
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$677,820
$677.8K
Cap Rate 7%
$484,157
$484.2K
Cap Rate 9%
$376,567
$376.6K
Market Conditions
NOI Build-Up for 1,986 SF
Gross rent
$51.2K $25.80/SF
− Vacancy
−$2.8K −$1.42/SF
EGI
$48.4K $24.38/SF
− OpEx
−$14.5K −$7.31/SF
NOI
$33.9K $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%
$677,820
Cap Rate 7%
$484,157
Cap Rate 9%
$376,567
Alternative Uses
Best Use
Multifamily LT 5
$484.2K
$423.6K – $564.9K
NOI $33,891 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$446.3K
$390.5K – $520.7K
NOI $31,239 @ 7.0% cap · market cap 6.79%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Explore this area
Business Placement
Demographics for 19119, PA
27,265
Population
13,909
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
8,019
Density / Sq Mi
$81,609
Median Household Income
$54,598
Median Earnings
$1,291
Median Rent
$326,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Independent heating, utility, and fire-safety infrastructure supports the property’s multi-unit configuration.
Where is this triplex located?
The property is located at 115 E Gorgas Ln Philadelphia, PA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Triplex property in Philadelphia; Separate heating systems; Separate utilities
