Five-Home Multifamily
For Sale
$1,099,999
115 West Thompson Street, Philadelphia, PA 19122
Updated side-by-side townhomes with separate entrances, shared outdoor space, and individual two-bedroom layouts.
Property Size3,308 SF
Price / SF$332.53
Days on Market320
Property Features for 115 West Thompson Street
General Information
Standard status
Active
Size
3,308 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
5 x 2BR/1BA
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$14,994
Amenities
Washer/Dryer Hookups Only
Ceiling Fan(s)
No Pool
Above Grade
Sidewalks, Street Lights
Building Details
Year Built
1920
Buildings
5
Stories
3
Construction
trinity
Listing Agency:
KW Empower
(609) 774-6936
Listed By:
Marc Bennett · License #RS337435
(609) 774-6936
Source:
Compass
Added: Oct 16, 2025
Changed: Aug 29
Last Checked: Aug 30 at 11:40PM
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
Investment Insights
Based on property information with market context.
This multifamily package includes five side-by-side, three-story trinity townhomes conveyed on one deed. Combined property size is 3,308 SF, with each residence offering two bedrooms, one full bathroom, a separate entrance, and an updated interior. Ground-floor layouts include open living and dining areas with full kitchens equipped with appliances, large sinks, and cabinetry. Newer windows provide natural light throughout the homes, while washer/dryer hookups and ceiling fans are included. The residences were built in 1920 and are situated on a separate shared lot.
The property is located at 115 West Thompson Street in Philadelphia’s Fishtown/Old Kensington area, within ZIP code 19122. Coffee shops, pubs, restaurants, and public transportation are identified in the surrounding area. The property carries RSA5 zoning and has one water meter serving all five buildings; each building has its own BRT number.
The property is located at 115 West Thompson Street in Philadelphia’s Fishtown/Old Kensington area, within ZIP code 19122. Coffee shops, pubs, restaurants, and public transportation are identified in the surrounding area. The property carries RSA5 zoning and has one water meter serving all five buildings; each building has its own BRT number.
Key Highlights
- Five side‑by‑side, three‑story townhomes on one deed
- 3,308 SF multifamily property with five separate residences
- Each home includes 2 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,033
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,040,660
$1.0M
Cap Rate 7%
$743,329
$743.3K
Cap Rate 9%
$578,144
$578.1K
Market Conditions
NOI Build-Up for 3,308 SF
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.
Gross rent
$100.4K $30.36/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$94.6K $28.60/SF
− OpEx
−$42.6K −$12.87/SF
NOI
$52.0K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,040,660
Cap Rate 7%
$743,329
Cap Rate 9%
$578,144
Alternative Uses
Best Use
Apartment 5plus
$743.3K
$650.4K – $867.2K
NOI $52,033 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$806.4K
$705.6K – $940.9K
NOI $56,451 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,571
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Updated side-by-side townhomes with separate entrances, shared outdoor space, and individual two-bedroom layouts.
Where is this multifamily property located?
The property is located at 115 West Thompson Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,099,999.
What are key features of this property?
This property features: Five side‑by‑side, three‑story townhomes on one deed; 3,308 SF multifamily property with five separate residences; Each home includes 2 bedrooms and 1 full bathroom
