Renovated Three-Unit Apartment
For Sale
$289,900
1315 S 56TH STREET, Philadelphia, PA 19143
Renovated triplex with separate utilities and updated one-bedroom apartments across three levels.
Property Size1,110 SF
Price / SF$261.17
Days on Market64
Property Features for 1315 S 56TH STREET
General Information
Standard status
Active
Size
1,110 SF
Property subtype
Triplex
Units
Unit Mix
3 x 1BR
Multifamily Units
3
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Luxe Real Estate LLC
(215) 326-9095
Listed By:
Michelle Phillips · License #RM425239
(215) 251-7519
Source:
Cummingsrealtors
Added: Aug 12
Changed: Oct 13
Last Checked: Oct 12 at 8:14PM
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 Luxe Real Estate LLC
Investment Insights
Based on property information with market context.
This legal triplex contains three one-bedroom apartments within 1,110 square feet. The property was built in 1925 and has been renovated throughout. Unit improvements include updated kitchens and bathrooms, refreshed flooring, hardwood flooring, recessed lighting, living and dining areas, and bedrooms with closet space. The basement apartment is vacant, while the first-floor unit is currently rented.
Each apartment has separate heat, hot water, and utilities, supporting distinct unit-level operations. The property is located at 1315 S 56th Street in Philadelphia, Pennsylvania, with ZIP code 19143. The layout offers three individual residences in a compact multifamily configuration.
Each apartment has separate heat, hot water, and utilities, supporting distinct unit-level operations. The property is located at 1315 S 56th Street in Philadelphia, Pennsylvania, with ZIP code 19143. The layout offers three individual residences in a compact multifamily configuration.
Key Highlights
- Legal triplex with three one‑bedroom apartments
- 1,110 square feet across three residential units
- Renovated kitchens, bathrooms, flooring, and interior finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,025
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$240,500
$240.5K
Cap Rate 7%
$171,786
$171.8K
Cap Rate 9%
$133,611
$133.6K
Market Conditions
NOI Build-Up for 1,110 SF
Gross rent
$18.5K $16.68/SF
− Vacancy
−$1.3K −$1.20/SF
EGI
$17.2K $15.48/SF
− OpEx
−$5.2K −$4.64/SF
NOI
$12.0K $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 Rate 5%
$240,500
Cap Rate 7%
$171,786
Cap Rate 9%
$133,611
Alternative Uses
Best Use
Multifamily LT 5
$171.8K
$150.3K – $200.4K
NOI $12,025 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$152.8K
$133.7K – $178.3K
NOI $10,695 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$380.4K
$332.9K – $443.9K
NOI $26,631 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,496
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 updated one-bedroom apartments across three levels.
Where is this triplex located?
The property is located at 1315 S 56TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Legal triplex with three one‑bedroom apartments; 1,110 square feet across three residential units; Renovated kitchens, bathrooms, flooring, and interior finishes
