Upgraded 3-Unit
New
For Sale
$339,900
6907 N Broad St, Philadelphia, PA 19126
Occupied multifamily property with transit access and varied unit layouts across three levels.
Property Size1,480 SF
Price / SF$229.66
Days on Market7
Property Features for 6907 N Broad St
General Information
Standard status
Active
Size
1,480 SF
Property subtype
Multi-Family
Zoning
RSA5/Duplex
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Year Built
1925
Listing Agency:
Leverage Real Estate
(267) 331-4963
Listed By:
Debra D Bennett · License #RM422511
Source:
Upgradebymichaud
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 25 at 5:46AM
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 Leverage Real Estate
Investment Insights
Based on property information with market context.
Located at 6907 N Broad St in Philadelphia, this occupied triplex contains three residential units across the first floor, second floor, and lower level. The first- and second-floor apartments each have two bedrooms, while the lower-level apartment has one bedroom.
Recent improvements include LVP flooring and updated kitchen appliances on the first floor, along with updated kitchen and bathroom finishes on the second floor. The lower level includes a new bathroom with a walk-in shower. The property is zoned RSA5/Duplex while currently configured with three units, and the existing apartments are generating positive income. Public transportation is conveniently accessible, and showings are available with proper notice.
Recent improvements include LVP flooring and updated kitchen appliances on the first floor, along with updated kitchen and bathroom finishes on the second floor. The lower level includes a new bathroom with a walk-in shower. The property is zoned RSA5/Duplex while currently configured with three units, and the existing apartments are generating positive income. Public transportation is conveniently accessible, and showings are available with proper notice.
Key Highlights
- 3‑unit multifamily property with two 2‑bedroom units and one 1‑bedroom unit
- Occupied property generating positive income
- First‑floor LVP flooring and updated kitchen appliances
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
$25,256
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
7.43%
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%
$505,120
$505.1K
Cap Rate 7%
$360,800
$360.8K
Cap Rate 9%
$280,622
$280.6K
Market Conditions
NOI Build-Up for 1,480 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
$38.2K $25.80/SF
− Vacancy
−$2.1K −$1.42/SF
EGI
$36.1K $24.38/SF
− OpEx
−$10.8K −$7.31/SF
NOI
$25.3K $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%
$505,120
Cap Rate 7%
$360,800
Cap Rate 9%
$280,622
Alternative Uses
Best Use
Multifamily LT 5
$360.8K
$315.7K – $420.9K
NOI $25,256 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$332.6K
$291.0K – $388.0K
NOI $23,280 @ 7.0% cap · market cap 6.85%
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
1,001
Businesses Nearby
Explore this area
Business Placement
Demographics for 19126, PA
16,159
Population
7,490
Households
2.2
Avg Household Size
43
Median Age
26%
College-Educated
90%
High-School Grad
1.2 sq mi
ZIP Area
13,466
Density / Sq Mi
$52,847
Median Household Income
$40,610
Median Earnings
$1,116
Median Rent
$214,300
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 - Occupied multifamily property with transit access and varied unit layouts across three levels.
Where is this triplex located?
The property is located at 6907 N Broad St Philadelphia, PA.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 3‑unit multifamily property with two 2‑bedroom units and one 1‑bedroom unit; Occupied property generating positive income; First‑floor LVP flooring and updated kitchen appliances
