Triplex with Three
For Sale
$646,980
1162 South 10th Street, Philadelphia, PA 19147
Triplex featuring three rented garages and three income-producing units with separate living layouts.
Property Size2,550 SF
Price / SF$253.72
Days on Market568
Property Features for 1162 South 10th Street
General Information
Standard status
Active
Size
2,550 SF
Total Parking Spaces
3
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Occupancy
100%
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,842
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1915
Stories
3
Tenancy
Multi
Listing Agency:
Target Realty
Listed By:
Shengfei Lin · License #RS330620
(215) 218-0939
Source:
Compass
Added: Feb 17, 2025
Changed: Aug 8
Last Checked: Jul 22 at 8:01PM
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 Target Realty
Investment Insights
Based on property information with market context.
This rare triplex includes three garages and three rented apartments, providing one building with multiple income streams. The first-floor unit was previously used as a store and is currently configured as an apartment. The second floor offers a 1-bedroom, 1-bath layout with a patio. The third floor features 2 bedrooms along with a spacious living area.
The property is located at 1162 South 10th Street in Philadelphia, PA 19147. All units and garages are rented.
The building’s configuration combines apartment living space with detached parking/garage income through the three garages on-site.
The property is located at 1162 South 10th Street in Philadelphia, PA 19147. All units and garages are rented.
The building’s configuration combines apartment living space with detached parking/garage income through the three garages on-site.
Key Highlights
- Triplex on the 1152 S 13th St area of South Philadelphia with all units rented
- 3 garages included; all garages are rented
- First floor currently used as an apartment; it previously was a store
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
$43,515
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
6.73%
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%
$870,300
$870.3K
Cap Rate 7%
$621,643
$621.6K
Cap Rate 9%
$483,500
$483.5K
Market Conditions
NOI Build-Up for 2,550 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
$65.8K $25.80/SF
− Vacancy
−$3.6K −$1.42/SF
EGI
$62.2K $24.38/SF
− OpEx
−$18.6K −$7.31/SF
NOI
$43.5K $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%
$870,300
Cap Rate 7%
$621,643
Cap Rate 9%
$483,500
Alternative Uses
Best Use
Multifamily LT 5
$621.6K
$543.9K – $725.3K
NOI $43,515 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$573.0K
$501.4K – $668.5K
NOI $40,110 @ 7.0% cap · market cap 6.20%
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
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,273
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
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 - Triplex featuring three rented garages and three income-producing units with separate living layouts.
Where is this triplex located?
The property is located at 1162 South 10th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $646,980.
What are key features of this property?
This property features: Triplex on the 1152 S 13th St area of South Philadelphia with all units rented; 3 garages included; all garages are rented; First floor currently used as an apartment; it previously was a store
