Renovated Triplex
For Sale
$450,000
Pending
1402 Willington Street, Philadelphia, PA 19121
Renovated triplex with separate utilities and three units, including a currently vacant first-floor bi-level unit.
Property Size2,109 SF
Days on Market137
Property Features for 1402 Willington Street
General Information
Standard status
Pending
Size
2,109 SF
Property subtype
Multi-Family / Fee Simple
Additional Details
Multifamily Units
3
Building Details
Year Built
2009
Tenancy
Multi
Listing Agency:
LPT Realty, LLC
(215) 273-3669
Listed By:
Maria Maria Quattrone Quattrone · License #RS281573
(215) 273-3669
Source:
Compass
Added: Mar 17
Changed: Jul 22
Last Checked: Jul 24 at 2:23PM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
Renovated triplex located at 1402 Willington Street, Philadelphia. The property consists of three units with separate utilities, and tenants are responsible for electric. All units are described as being in good condition, providing a stable platform for rental operations.
The first-floor bi-level unit has four bedrooms and 1.5 bathrooms and is currently vacant. The second-floor unit offers three bedrooms and one full bathroom and is rented per room to two individuals, with one tenant currently paying $600 per month. The third-floor unit includes two bedrooms and one bathroom and is currently occupied.
The offering notes eligibility for CRA financing and includes a home warranty to be included in the sale. Additional details include a Key Bank credit of $5,000 that may be applied toward closing costs or prepay items such as mortgage, insurance, escrow deposit, real estate taxes, or per diem interest.
The first-floor bi-level unit has four bedrooms and 1.5 bathrooms and is currently vacant. The second-floor unit offers three bedrooms and one full bathroom and is rented per room to two individuals, with one tenant currently paying $600 per month. The third-floor unit includes two bedrooms and one bathroom and is currently occupied.
The offering notes eligibility for CRA financing and includes a home warranty to be included in the sale. Additional details include a Key Bank credit of $5,000 that may be applied toward closing costs or prepay items such as mortgage, insurance, escrow deposit, real estate taxes, or per diem interest.
Key Highlights
- Renovated triplex built in 2009 with three separate units and separate utilities
- First‑floor bi‑level unit has 4 bedrooms and 1.5 bathrooms and is currently vacant
- Second‑floor unit offers 3 bedrooms and 1 full bathroom, rented per room to two individuals; one tenant pays $600/month
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.4k | $25.80 |
| − Vacancy | −$3.0k | −$1.42 |
| EGI | $51.4k | $24.38 |
| − OpEx | −$15.4k | −$7.31 |
| NOI | $36.0k | $17.06 |
2,109 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$514.1K
$449.9K – $599.8K
NOI $35,990 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$473.9K
$414.7K – $552.9K
NOI $33,174 @ 7.0% cap · market cap 7.37%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,464
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated triplex with separate utilities and three units, including a currently vacant first-floor bi-level unit.
Where is this triplex located?
The property is located at 1402 Willington Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Renovated triplex built in 2009 with three separate units and separate utilities; First‑floor bi‑level unit has 4 bedrooms and 1.5 bathrooms and is currently vacant; Second‑floor unit offers 3 bedrooms and 1 full bathroom, rented per room to two individuals; one tenant pays $600/month
