Renovated Triplex with Three
For Sale
$570,000
1173 South 10th Street, Philadelphia, PA 19147
Updated multifamily property one block from Washington Ave and Italy Market.
Property Size2,628 SF
Price / SF$216.89
Days on Market161
Property Features for 1173 South 10th Street
General Information
Standard status
Active
Size
2,628 SF
Property subtype
Multi-Family / Fee Simple
Zoning
TRIPLX
Occupancy
100%
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Additional Details
Gross Income
$44,400
Taxes and HOA fees
Annual Taxes
$742,300
Amenities
No
Other
No Pool
Above Grade, Below Grade
Building Details
Year Built
1915
Listing Agency:
Tesla Realty Group, LLC
(215) 776-5228
Listed By:
Shou w Zheng
(215) 776-5228
Source:
Compass
Added: Mar 23
Changed: Aug 30
Last Checked: Aug 30 at 7:42AM
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 Tesla Realty Group, LLC
Investment Insights
Based on property information with market context.
This 2,628-square-foot triplex contains three two-bedroom apartments and was renovated approximately 4–5 years ago. The building dates to 1915 and is classified under TRIPLX zoning. All three units are currently occupied, with rents reported as current, and the property may be delivered vacant if requested by the buyer.
The property is located at 1173 South 10th Street in Philadelphia’s 19147 area, one block from Washington Ave and Italy Market. Showings require 24 hours’ notice to the tenants.
The property is located at 1173 South 10th Street in Philadelphia’s 19147 area, one block from Washington Ave and Italy Market. Showings require 24 hours’ notice to the tenants.
Key Highlights
- Three two‑bedroom apartments within a triplex configuration
- 2,628 square feet of total property size
- Renovated approximately 4–5 years ago
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
$44,847
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
7.87%
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%
$896,940
$896.9K
Cap Rate 7%
$640,671
$640.7K
Cap Rate 9%
$498,300
$498.3K
Market Conditions
NOI Build-Up for 2,628 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
$67.8K $25.80/SF
− Vacancy
−$3.7K −$1.42/SF
EGI
$64.1K $24.38/SF
− OpEx
−$19.2K −$7.31/SF
NOI
$44.8K $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%
$896,940
Cap Rate 7%
$640,671
Cap Rate 9%
$498,300
Alternative Uses
Best Use
Multifamily LT 5
$640.7K
$560.6K – $747.5K
NOI $44,847 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$590.5K
$516.7K – $689.0K
NOI $41,337 @ 7.0% cap · market cap 7.25%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,827
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
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 - Updated multifamily property one block from Washington Ave and Italy Market.
Where is this triplex located?
The property is located at 1173 South 10th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Three two‑bedroom apartments within a triplex configuration; 2,628 square feet of total property size; Renovated approximately 4–5 years ago
