Three-Unit Brick
For Sale
$415,000
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 Market20
Property Features for 1246 S 53RD STREET
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Triplex
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$28,900
Public Transit
Yes
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
(267) 984-3361
Listed By:
Francis Nguyen · License #RS352433
(267) 984-3361
Source:
Patmckennarealtors
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 31 at 12:03AM
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
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 = 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
$21,124
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
5.09%
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%
$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
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
$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 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%
$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 5.09%
Second Best
Apartment 5plus
$268.4K
$234.9K – $313.2K
NOI $18,789 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$668.4K
$584.8K – $779.8K
NOI $46,785 @ 7.0% cap · market cap 11.27%
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
1,413
Businesses Nearby
Explore this area
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
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-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 $415,000.
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
