Detached Triplex
For Sale
$880,000
116 E Chestnut Hill Avenue, Philadelphia, PA 19118
Detached triplex with private, self-contained living quarters on every level.
Property Size4,326 SF
Price / SF$203.42
Days on Market331
Property Features for 116 E Chestnut Hill Avenue
General Information
Standard status
Active
Size
4,326 SF
Property subtype
Multi-Family
Zoning
RM1
Net Operating Income
$28,239
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,540
Amenities
professionally planned and landscaped garden
Unfinished
Fully Carpeted,Solid Hardwood,Ceramic Tile
Natural Gas
Yes
Dryer In Unit,Washer In Unit
No
Estimated
1
Kitchen - Eat-In
No Pool
Public
34X120
0.10
On Street
Stone
122000.00
Building Details
Building Size
4,326 SF
Year Built
1883
Tenancy
Multi
Listing Agency:
Mary Ann Hammel
(856) 222-0077
Listed By:
Tyler Mecca
Source:
Thetristaterealestategroup
Added: Oct 10, 2025
Changed: Sep 4
Last Checked: Aug 10 at 9:17AM
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 Mary Ann Hammel
Investment Insights
Based on property information with market context.
Detached triplex featuring private, self-contained living quarters on every level. The property is described as a restored Northwest classic and includes professionally planned and landscaped garden areas.
Located at 116 East Chestnut Hill Avenue in Philadelphia’s 19118 area, the property is presented as being close to trains, shops, and cafes.
The offering is for sale and is characterized in the remarks as suitable for either owner occupancy or an investor seeking cash flow.
Located at 116 East Chestnut Hill Avenue in Philadelphia’s 19118 area, the property is presented as being close to trains, shops, and cafes.
The offering is for sale and is characterized in the remarks as suitable for either owner occupancy or an investor seeking cash flow.
Key Highlights
- Detached triplex with private, self‑contained living quarters on every level
- Built in 1883
- Includes 1 fireplace and an eat‑in kitchen
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
$73,823
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
8.39%
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%
$1,476,460
$1.5M
Cap Rate 7%
$1,054,614
$1.1M
Cap Rate 9%
$820,256
$820.3K
Market Conditions
NOI Build-Up for 4,326 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
$111.6K $25.80/SF
− Vacancy
−$6.1K −$1.42/SF
EGI
$105.5K $24.38/SF
− OpEx
−$31.6K −$7.31/SF
NOI
$73.8K $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 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%
$1,476,460
Cap Rate 7%
$1,054,614
Cap Rate 9%
$820,256
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$922.8K – $1.23M
NOI $73,823 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$972.1K
$850.6K – $1.13M
NOI $68,046 @ 7.0% cap · market cap 7.73%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,154
Businesses Nearby
Explore this area
Business Placement
Demographics for 19118, PA
9,728
Population
5,079
Households
1.9
Avg Household Size
46
Median Age
76%
College-Educated
98%
High-School Grad
3.2 sq mi
ZIP Area
3,040
Density / Sq Mi
$105,667
Median Household Income
$65,197
Median Earnings
$1,772
Median Rent
$688,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Detached triplex with private, self-contained living quarters on every level.
Where is this triplex located?
The property is located at 116 E Chestnut Hill Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Detached triplex with private, self‑contained living quarters on every level; Built in 1883; Includes 1 fireplace and an eat‑in kitchen
