Brick Triplex with Self-Contained
For Sale
$1,300,000
513 Pine Street, Philadelphia, PA 19106
Well-maintained brick triplex offers three self-contained residential units with updates including a newer roof and hot water heaters.
Property Size3,200 SF
Price / SF$406.25
Days on Market793
Property Features for 513 Pine Street
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multi-Family
Zoning
RM1
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,336
Amenities
Full
Hardwood
Natural Gas
Yes
Estimated
1
No Pool
Public
18.00 x 78.00
0.03
No
Assessor
On Street
Stone
147680.00
Building Details
Building Size
3,200 SF
Year Built
1910
Stories
3
Tenancy
Multi
Listing Agency:
KW Empower
(856) 222-0077
Listed By:
Brittany Moody
(609) 744-6614
Source:
Thetristaterealestategroup
Added: Jul 8, 2024
Changed: Sep 7
Last Checked: Sep 8 at 3:50AM
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 KW Empower
Investment Insights
Based on property information with market context.
This well-maintained brick triplex features three self-contained residential units and a deep layout running approximately 78 feet. The first floor presents a huge 3-bedroom, two full bath configuration with soaring ceilings, solid oak hardwood floors, an eat-in kitchen, strong closet space, and a side breezeway. The second floor offers a light-filled 2-bedroom with high ceilings, original inlaid hardwood floors, an eat-in kitchen, a marble fireplace with original wood mantle, and a full tile bath. The third floor includes a sizable 1-bedroom with great ceiling height, hardwood floors, an eat-in kitchen, a full tile bath, and rear deck potential.
The full basement is clean, neat, and dry, running the entire length of the property, with three separate rooms, a full bath, a walk-in closet, substantial storage, and a dedicated mechanical room. Recent updates include a newer roof and all new hot water heaters.
The property includes a 3-bedroom owners unit along with a 2-bedroom and a 1-bedroom unit. The first and second floor units are currently vacant.
The full basement is clean, neat, and dry, running the entire length of the property, with three separate rooms, a full bath, a walk-in closet, substantial storage, and a dedicated mechanical room. Recent updates include a newer roof and all new hot water heaters.
The property includes a 3-bedroom owners unit along with a 2-bedroom and a 1-bedroom unit. The first and second floor units are currently vacant.
Key Highlights
- Well‑maintained brick triplex built in 1910 with 3 self‑contained units
- 3‑bedroom, 2‑bedroom, and 1‑bedroom unit mix (1st, 2nd, and 3rd floors)
- Large footprint running 78 ft deep with 3,200+ sq. ft. of living space (estimated)
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
$54,608
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
4.20%
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%
$1,092,160
$1.1M
Cap Rate 7%
$780,114
$780.1K
Cap Rate 9%
$606,756
$606.8K
Market Conditions
NOI Build-Up for 3,200 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
$82.6K $25.80/SF
− Vacancy
−$4.5K −$1.42/SF
EGI
$78.0K $24.38/SF
− OpEx
−$23.4K −$7.31/SF
NOI
$54.6K $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%
$1,092,160
Cap Rate 7%
$780,114
Cap Rate 9%
$606,756
Alternative Uses
Best Use
Multifamily LT 5
$780.1K
$682.6K – $910.1K
NOI $54,608 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$719.1K
$629.2K – $838.9K
NOI $50,334 @ 7.0% cap · market cap 3.87%
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
13,394
Businesses Nearby
Explore this area
Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
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 - Well-maintained brick triplex offers three self-contained residential units with updates including a newer roof and hot water heaters.
Where is this triplex located?
The property is located at 513 Pine Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Well‑maintained brick triplex built in 1910 with 3 self‑contained units; 3‑bedroom, 2‑bedroom, and 1‑bedroom unit mix (1st, 2nd, and 3rd floors); Large footprint running 78 ft deep with 3,200+ sq. ft. of living space (estimated)
