Triplex With Rooftop
For Sale
$780,000
1328 N 7TH STREET, Philadelphia, PA 19122
Contemporary three-unit property with private outdoor spaces, in-unit laundry, hardwood floors, and central air conditioning.
Property Size3,204 SF
Price / SF$243.45
Days on Market21
Property Features for 1328 N 7TH STREET
General Information
Standard status
Active
Size
3,204 SF
Property subtype
Triplex
Units
Unit Mix
1 x 2BR/2BA penthouse unit, 1 x 2BR/2BA apartment, 1 x 3BR/2BA bi-level residence
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
private rooftop deck
private rear yard
open-concept kitchens
hardwood floors
central air conditioning
in-unit laundry centers
Building Details
Year Built
2016
Construction
contemporary
Listing Agency:
Michael Jordan Real Estate, LLC
(215) 870-3903
Listed By:
Michael Jordan · License #RM425935
(215) 870-3903
Source:
Cummingsrealtors
Added: Aug 9
Changed: Aug 28
Last Checked: Aug 29 at 9:02AM
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 Michael Jordan Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 2016, this 3,204-square-foot triplex at 1328 N 7th Street in Philadelphia includes three residences with distinct layouts. The property offers one 2-bed, 2-bath penthouse with a private rooftop deck, one 2-bed, 2-bath single-level apartment, and one 3-bed, 2-bath bi-level residence with direct access to a private rear yard.
Across the units, interiors feature open-concept kitchens with granite surfaces, hardwood flooring, central air conditioning, dedicated in-unit laundry centers, and oversized bedrooms. The property is positioned near the culinary districts of Fishtown and Northern Liberties, Temple University, and transit connections serving Center City through the Market-Frankford and Broad Street lines.
Across the units, interiors feature open-concept kitchens with granite surfaces, hardwood flooring, central air conditioning, dedicated in-unit laundry centers, and oversized bedrooms. The property is positioned near the culinary districts of Fishtown and Northern Liberties, Temple University, and transit connections serving Center City through the Market-Frankford and Broad Street lines.
Key Highlights
- 3,204‑square‑foot triplex built in 2016
- Unit mix includes One (1) 2‑bed, 2‑bath penthouse, One (1) 2‑bed, 2‑bath apartment, and One (1) 3‑bed, 2‑bath residence
- Penthouse includes a private rooftop deck
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
$54,676
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
7.01%
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%
$1,093,520
$1.1M
Cap Rate 7%
$781,086
$781.1K
Cap Rate 9%
$607,511
$607.5K
Market Conditions
NOI Build-Up for 3,204 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
$82.7K $25.80/SF
− Vacancy
−$4.6K −$1.42/SF
EGI
$78.1K $24.38/SF
− OpEx
−$23.4K −$7.31/SF
NOI
$54.7K $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%
$1,093,520
Cap Rate 7%
$781,086
Cap Rate 9%
$607,511
Alternative Uses
Best Use
Multifamily LT 5
$781.1K
$683.5K – $911.3K
NOI $54,676 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$720.0K
$630.0K – $840.0K
NOI $50,397 @ 7.0% cap · market cap 6.46%
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
Location Intelligence
Trade Area within ½ mile
2,823
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Contemporary three-unit property with private outdoor spaces, in-unit laundry, hardwood floors, and central air conditioning.
Where is this triplex located?
The property is located at 1328 N 7TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 3,204‑square‑foot triplex built in 2016; Unit mix includes One (1) 2‑bed, 2‑bath penthouse, One (1) 2‑bed, 2‑bath apartment, and One (1) 3‑bed, 2‑bath residence; Penthouse includes a private rooftop deck
