Contemporary Triplex with Roof
For Sale
$799,900
1211 N FRANKLIN Street, Philadelphia, PA 19122
Multi-Family, PHILADELPHIA, PA
Property Size3,500 SF
Price / SF$228.54
Days on Market517
Property Features for 1211 N FRANKLIN Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Appliances
Washer, Dryer
Subdivision
SOUTH KENSINGTON
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
3,500 SF
Taxes and HOA fees
Tax Annual Amount
2351
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
in-unit laundry
video intercoms
private backyard
private roof deck
Building Details
Year built
2017
Number of units
3
Building materials
Masonry
Architectural style
Contemporary
Listing Agency:
Houwzer, LLC
(267) 765-2080
Listed By:
Michael DeFiore · License #RS329854
(609) 790-4824
Added: Apr 10, 2025
Changed: Aug 19
Last Checked: Sep 8 at 7:06PM
MLS# PAPH2465658
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,500-square-foot contemporary triplex was built in 2017 with masonry construction and central heating and cooling. The building contains three residences: a first-floor bi-level with 3BD/2BA and a private backyard, plus two 2BD/1BA units on the upper floors. Interior features include hardwood flooring, quartz kitchen countertops, stainless steel appliances, porcelain-tile bathrooms, video intercoms, and in-unit laundry. Each residence has separate utilities, while the third-floor unit adds a private roof deck with Center City views.
The property is located at 1211 N Franklin Street in Philadelphia's South Kensington/Northern Liberties area, near Girard Ave and within walking distance of Fishtown and Northern Liberties. On-street parking is available, and the property includes a 10-Year Tax Abatement.
The property is located at 1211 N Franklin Street in Philadelphia's South Kensington/Northern Liberties area, near Girard Ave and within walking distance of Fishtown and Northern Liberties. On-street parking is available, and the property includes a 10-Year Tax Abatement.
Key Highlights
- 3,500 square feet across three residential units
- Unit mix includes one 3BD/2BA bi‑level and two 2BD/1BA residences
- Private backyard with the first‑floor unit and private roof deck with Center City views
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
$59,727
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
7.47%
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%
$1,194,540
$1.2M
Cap Rate 7%
$853,243
$853.2K
Cap Rate 9%
$663,633
$663.6K
Market Conditions
NOI Build-Up for 3,500 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
$90.3K $25.80/SF
− Vacancy
−$5.0K −$1.42/SF
EGI
$85.3K $24.38/SF
− OpEx
−$25.6K −$7.31/SF
NOI
$59.7K $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%
$1,194,540
Cap Rate 7%
$853,243
Cap Rate 9%
$663,633
Alternative Uses
Best Use
Multifamily LT 5
$853.2K
$746.6K – $995.5K
NOI $59,727 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$786.5K
$688.2K – $917.6K
NOI $55,053 @ 7.0% cap · market cap 6.88%
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
Location Intelligence
Trade Area within ½ mile
3,203
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit masonry property with modern finishes, separate utilities, in-unit laundry, and private outdoor areas.
Where is this triplex located?
The property is located at 1211 N FRANKLIN Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 3,500 square feet across three residential units; Unit mix includes one 3BD/2BA bi‑level and two 2BD/1BA residences; Private backyard with the first‑floor unit and private roof deck with Center City views
