Triplex with Private Rear
For Sale
$695,000
124 East Chestnut Hill Avenue, Philadelphia, PA 19118
Three-unit triplex features updated kitchens, in-unit laundry, hardwood floors, and a fully fenced, landscaped rear garden.
Property Size2,232 SF
Price / SF$311.38
Days on Market331
Property Features for 124 East Chestnut Hill Avenue
General Information
Standard status
Active
Size
2,232 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Net Operating Income
$57,880
Additional Details
Fenced Yard
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,887
Amenities
in-unit laundry
private balconies
rooftop deck
fenced rear garden
Washer/Dryer Stacked
No Pool
Patio(s), Deck(s)
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Rob Lamb · License #RS271533
(215) 370-6798
Source:
Compass
Added: Oct 10, 2025
Changed: Sep 3
Last Checked: Sep 4 at 3:21PM
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
Investment Insights
Based on property information with market context.
This well-maintained triplex offers three residential units with updated interiors. The two upper-level units include separate 2BR/1BA layouts, and the third unit is configured as a 1BR/1BA. Kitchens have been updated with cabinetry, farmhouse sinks, stainless steel appliances, and each unit includes in-unit laundry. Hardwood floors and neutral finishes run throughout the interiors. Select units provide private outdoor space, including balconies or rooftop deck access.
The property includes a fully fenced, landscaped rear garden designed as a private green space.
Located in Chestnut Hill, the building is described as walkable to Germantown Avenue, nearby cafes, and Chestnut Hill East/West trains, with Wissahickon trails also in the area.
The property includes a fully fenced, landscaped rear garden designed as a private green space.
Located in Chestnut Hill, the building is described as walkable to Germantown Avenue, nearby cafes, and Chestnut Hill East/West trains, with Wissahickon trails also in the area.
Key Highlights
- Triplex built in 1925 with three rental units and total living area recorded by the Assessor
- Two 2BR/1BA units plus one 1BR/1BA unit in a triplex configuration
- Updated kitchens in each unit with stainless steel appliances and in‑unit laundry in all units
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
$38,089
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
5.48%
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%
$761,780
$761.8K
Cap Rate 7%
$544,129
$544.1K
Cap Rate 9%
$423,211
$423.2K
Market Conditions
NOI Build-Up for 2,232 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
$57.6K $25.80/SF
− Vacancy
−$3.2K −$1.42/SF
EGI
$54.4K $24.38/SF
− OpEx
−$16.3K −$7.31/SF
NOI
$38.1K $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%
$761,780
Cap Rate 7%
$544,129
Cap Rate 9%
$423,211
Alternative Uses
Best Use
Multifamily LT 5
$544.1K
$476.1K – $634.8K
NOI $38,089 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$501.5K
$438.9K – $585.1K
NOI $35,108 @ 7.0% cap · market cap 5.05%
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
Yes
Fenced yard
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex features updated kitchens, in-unit laundry, hardwood floors, and a fully fenced, landscaped rear garden.
Where is this triplex located?
The property is located at 124 East Chestnut Hill Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Triplex built in 1925 with three rental units and total living area recorded by the Assessor; Two 2BR/1BA units plus one 1BR/1BA unit in a triplex configuration; Updated kitchens in each unit with stainless steel appliances and in‑unit laundry in all units
