Triplex with Updated
For Sale
$450,000
Pending
2198 East Huntingdon Street, Philadelphia, PA 19125
Three-unit property with updated kitchens, updated bathrooms, and access to Fishtown dining, shopping, and entertainment.
Property Size2,023 SF
Days on Market157
Property Features for 2198 East Huntingdon Street
General Information
Standard status
Pending
Size
2,023 SF
Property subtype
Multi-Family / Fee Simple
Zoning
CMX1
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,676
Amenities
No
2+ Access Exits
No Pool
Above Grade, Below Grade
Building Details
Year Built
1875
Listing Agency:
BHHS Fox & Roach-Center City Walnut
(215) 852-2040
Listed By:
Jafar Maleki · License #RS291788
(215) 852-2040
Source:
Compass
Added: Mar 27
Changed: Aug 29
Last Checked: Aug 29 at 11:41PM
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 BHHS Fox & Roach-Center City Walnut
Investment Insights
Based on property information with market context.
This Philadelphia triplex contains three residential units with spacious layouts, abundant natural light, and updated kitchens and bathrooms. Built in 1875, the property includes 2+ access exits and above-grade and below-grade areas. CMX1 zoning is reported for the site.
The building is located on East Huntingdon Street in Fishtown, within the 19125 MLS area. Dining, shopping, and entertainment venues are nearby, while public transportation and major roadways provide access toward Center City and other parts of Philadelphia.
The building is located on East Huntingdon Street in Fishtown, within the 19125 MLS area. Dining, shopping, and entertainment venues are nearby, while public transportation and major roadways provide access toward Center City and other parts of Philadelphia.
Key Highlights
- Three‑unit triplex in Philadelphia’s Fishtown neighborhood
- Updated kitchens and bathrooms across the property
- Spacious layouts with abundant natural light
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
$34,522
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
7.67%
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%
$690,440
$690.4K
Cap Rate 7%
$493,171
$493.2K
Cap Rate 9%
$383,578
$383.6K
Market Conditions
NOI Build-Up for 2,023 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
$52.2K $25.80/SF
− Vacancy
−$2.9K −$1.42/SF
EGI
$49.3K $24.38/SF
− OpEx
−$14.8K −$7.31/SF
NOI
$34.5K $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%
$690,440
Cap Rate 7%
$493,171
Cap Rate 9%
$383,578
Alternative Uses
Best Use
Multifamily LT 5
$493.2K
$431.5K – $575.4K
NOI $34,522 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$454.6K
$397.8K – $530.4K
NOI $31,821 @ 7.0% cap · market cap 7.07%
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
2,444
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
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 - Three-unit property with updated kitchens, updated bathrooms, and access to Fishtown dining, shopping, and entertainment.
Where is this triplex located?
The property is located at 2198 East Huntingdon Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three‑unit triplex in Philadelphia’s Fishtown neighborhood; Updated kitchens and bathrooms across the property; Spacious layouts with abundant natural light
