Three-Unit Brick
For Sale
$404,500
1246 S 53RD STREET, Philadelphia, PA 19143
Three-story multifamily property with a flexible unit mix and one currently vacant residence.
Property Size1,950 SF
Days on Market74
Property Features for 1246 S 53RD STREET
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Triplex
Site & Location
Neighborhood
West Philadelphia
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$28,900
Taxes and HOA fees
Annual Taxes
$4,498
Building Details
Building Size
1,950 SF
Year Built
1917
Stories
3
Construction
brick
Listing Agency:
Real of Pennsylvania
Listed By:
Francis Nguyen · License #RS352433
(267) 984-3361
Source:
Patmckennarealtors
Added: Aug 12
Changed: Oct 21
Last Checked: Oct 23 at 3:53PM
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 Real of Pennsylvania
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Investment Insights
Based on property information with market context.
This three-story brick semi-detached triplex contains three residential units arranged as two 2-bedroom, 1-bath residences and one 1-bedroom, 1-bath residence. Two units are occupied under long-term leases, while the remaining residence is vacant. Built in 1917, the property offers an established multifamily configuration with both leased and available space.
The building is located near the University of Pennsylvania, Drexel Hill, Cobbs Creek Parkway, SEPTA’s Market-Frankford Line, and local eateries. Its Philadelphia setting and proximity to transit, institutions, and neighborhood amenities provide practical access for residents. The existing unit mix supports either continued multifamily operation or an owner-occupant arrangement, subject to applicable requirements.
The building is located near the University of Pennsylvania, Drexel Hill, Cobbs Creek Parkway, SEPTA’s Market-Frankford Line, and local eateries. Its Philadelphia setting and proximity to transit, institutions, and neighborhood amenities provide practical access for residents. The existing unit mix supports either continued multifamily operation or an owner-occupant arrangement, subject to applicable requirements.
Key Highlights
- Three residential units in a three‑story brick building
- Two 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- 2 of 3 units occupied on long‑term leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,124
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$422,480
$422.5K
Cap Rate 7%
$301,771
$301.8K
Cap Rate 9%
$234,711
$234.7K
Market Conditions
NOI Build-Up for 1,950 SF
Gross rent
$32.5K $16.68/SF
− Vacancy
−$2.3K −$1.20/SF
EGI
$30.2K $15.48/SF
− OpEx
−$9.1K −$4.64/SF
NOI
$21.1K $10.83/SF
Area
ZIP 19143
Vacancy
7.22%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$422,480
Cap Rate 7%
$301,771
Cap Rate 9%
$234,711
Alternative Uses
Best Use
Multifamily LT 5
$301.8K
$264.1K – $352.1K
NOI $21,124 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$268.4K
$234.9K – $313.2K
NOI $18,789 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$668.4K
$584.8K – $779.8K
NOI $46,785 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,413
Businesses Nearby
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Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-story multifamily property with a flexible unit mix and one currently vacant residence.
Where is this triplex located?
The property is located at 1246 S 53RD STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $404,500.
What are key features of this property?
This property features: Three residential units in a three‑story brick building; Two 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit; 2 of 3 units occupied on long‑term leases
