Three-Unit Residential Income
For Sale
$650,000
236 Buckingham Pl, Philadelphia, PA 19104
Three-unit multifamily building with 1,890 SF built in 1915, zoned RSA3 for residential income use.
Property Size1,890 SF
Price / SF$343.92
Days on Market66
Property Features for 236 Buckingham Pl
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Multifamily
Zoning
RSA3
Additional Details
Multifamily Units
3
Building Details
Building Size
1,890 SF
Year Built
1915
Tenancy
Multi
Listing Agency:
Mallin Panchelli Nadel Realty Inc
(267) 546-1718
Listed By:
Nadia Bilynsky · License #RS311101
Source:
Mpnrealty
Added: Jun 25
Changed: Aug 26
Last Checked: Aug 29 at 7:13AM
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 Mallin Panchelli Nadel Realty Inc
Investment Insights
Based on property information with market context.
This three-unit residential income property features a 1,890 SF building constructed in 1915. The multifamily configuration includes three separate units within the existing structure.
The property is listed for sale and located in Philadelphia, Pennsylvania. It is zoned RSA3, which supports residential use under the current zoning designation.
As a smaller income property, the building’s established unit count and historical construction date may appeal to investors seeking a straightforward multifamily holding within an RSA3-zoned setting.
The property is listed for sale and located in Philadelphia, Pennsylvania. It is zoned RSA3, which supports residential use under the current zoning designation.
As a smaller income property, the building’s established unit count and historical construction date may appeal to investors seeking a straightforward multifamily holding within an RSA3-zoned setting.
Key Highlights
- Three‑unit multifamily building with 1,890 SF, built in 1915
- Zoned RSA3 for residential income use
- Multifamily/mid‑rise investor asset located in the heart of Philadelphia
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
$32,253
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
4.96%
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%
$645,060
$645.1K
Cap Rate 7%
$460,757
$460.8K
Cap Rate 9%
$358,367
$358.4K
Market Conditions
NOI Build-Up for 1,890 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
$48.8K $25.80/SF
− Vacancy
−$2.7K −$1.42/SF
EGI
$46.1K $24.38/SF
− OpEx
−$13.8K −$7.31/SF
NOI
$32.3K $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%
$645,060
Cap Rate 7%
$460,757
Cap Rate 9%
$358,367
Alternative Uses
Best Use
Multifamily LT 5
$460.8K
$403.2K – $537.6K
NOI $32,253 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$424.7K
$371.6K – $495.5K
NOI $29,729 @ 7.0% cap · market cap 4.57%
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
Location Intelligence
Trade Area within ½ mile
2,527
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
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 multifamily building with 1,890 SF built in 1915, zoned RSA3 for residential income use.
Where is this triplex located?
The property is located at 236 Buckingham Pl Philadelphia, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑unit multifamily building with 1,890 SF, built in 1915; Zoned RSA3 for residential income use; Multifamily/mid‑rise investor asset located in the heart of Philadelphia
