Three-Unit Triplex
For Sale
$487,500
1224 E Columbia Ave, Philadelphia, PA 19125
One unit is leased, while two remain available for occupancy.
Property Size1,500 SF
Price / SF$325
Days on Market65
Property Features for 1224 E Columbia Ave
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Year Built
1915
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
david m cohen · License #RS-282774
(215) 260-5860
Source:
Upgradebymichaud
Added: Aug 11
Changed: Oct 4
Last Checked: Oct 12 at 11:01PM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
This 1,500-square-foot triplex at 1224 E Columbia Ave includes three separate residential units. One unit is currently rented, and the other two are vacant, giving an owner immediate flexibility for occupancy or future leasing. Built in 1915, the property offers a residential income configuration within Philadelphia’s Fishtown area.
The property is near restaurants, bars, parks, and public transportation. Its location at 1224 E Columbia Ave places the building within the 19125 ZIP code and provides access to the surrounding neighborhood’s established commercial and transit amenities.
The property is near restaurants, bars, parks, and public transportation. Its location at 1224 E Columbia Ave places the building within the 19125 ZIP code and provides access to the surrounding neighborhood’s established commercial and transit amenities.
Key Highlights
- Three separate residential units in one triplex
- 1,500 square feet of property size
- One unit currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,597
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,940
$511.9K
Cap Rate 7%
$365,671
$365.7K
Cap Rate 9%
$284,411
$284.4K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$38.7K $25.80/SF
− Vacancy
−$2.1K −$1.42/SF
EGI
$36.6K $24.38/SF
− OpEx
−$11.0K −$7.31/SF
NOI
$25.6K $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%
$511,940
Cap Rate 7%
$365,671
Cap Rate 9%
$284,411
Alternative Uses
Best Use
Multifamily LT 5
$365.7K
$320.0K – $426.6K
NOI $25,597 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$337.1K
$294.9K – $393.2K
NOI $23,594 @ 7.0% cap · market cap 4.84%
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
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,995
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
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 - One unit is leased, while two remain available for occupancy.
Where is this triplex located?
The property is located at 1224 E Columbia Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $487,500.
What are key features of this property?
This property features: Three separate residential units in one triplex; 1,500 square feet of property size; One unit currently rented
