Renovated Triplex
1402 Willington Street Philadelphia, PA 19121
For Sale
$450,000
Pending
Renovated triplex with separate utilities and three units, including a currently vacant first-floor bi-level unit.
Property Size2,109 SF
Days on Market129
Property Features for 1402 Willington Street
General Information
- Standard status
- Pending
- Size
- 2,109 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 2009
Listing Agency:
LPT Realty, LLC
(215) 273-3669
Listed By:
Maria Maria Quattrone Quattrone · License #RS281573
(215) 273-3669
Source:
Compass
Added: Mar 17
Changed: Jul 22
Last Checked: Jul 22 at 6:51AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
Renovated triplex located at 1402 Willington Street, Philadelphia. The property consists of three units with separate utilities, and tenants are responsible for electric. All units are described as being in good condition, providing a stable platform for rental operations.
The first-floor bi-level unit has four bedrooms and 1.5 bathrooms and is currently vacant. The second-floor unit offers three bedrooms and one full bathroom and is rented per room to two individuals, with one tenant currently paying $600 per month. The third-floor unit includes two bedrooms and one bathroom and is currently occupied.
The offering notes eligibility for CRA financing and includes a home warranty to be included in the sale. Additional details include a Key Bank credit of $5,000 that may be applied toward closing costs or prepay items such as mortgage, insurance, escrow deposit, real estate taxes, or per diem interest.
The first-floor bi-level unit has four bedrooms and 1.5 bathrooms and is currently vacant. The second-floor unit offers three bedrooms and one full bathroom and is rented per room to two individuals, with one tenant currently paying $600 per month. The third-floor unit includes two bedrooms and one bathroom and is currently occupied.
The offering notes eligibility for CRA financing and includes a home warranty to be included in the sale. Additional details include a Key Bank credit of $5,000 that may be applied toward closing costs or prepay items such as mortgage, insurance, escrow deposit, real estate taxes, or per diem interest.
Key Highlights
- Renovated triplex built in 2009 with three separate units and separate utilities
- First‑floor bi‑level unit has 4 bedrooms and 1.5 bathrooms and is currently vacant
- Second‑floor unit offers 3 bedrooms and 1 full bathroom, rented per room to two individuals; one tenant pays $600/month
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.4k | $25.80 |
| − Vacancy | −$3.0k | −$1.42 |
| EGI | $51.4k | $24.38 |
| − OpEx | −$15.4k | −$7.31 |
| NOI | $36.0k | $17.06 |
2,109 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$514.1K
$449.9K – $599.8K
NOI $35,990 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$473.9K
$414.7K – $552.9K
NOI $33,174 @ 7.0% cap · market cap 7.37%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Renovated triplex with separate utilities and three units, including a currently vacant first-floor bi-level unit.
Where is this triplex located?
The property is located at 1402 Willington 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: Renovated triplex built in 2009 with three separate units and separate utilities; First‑floor bi‑level unit has 4 bedrooms and 1.5 bathrooms and is currently vacant; Second‑floor unit offers 3 bedrooms and 1 full bathroom, rented per room to two individuals; one tenant pays $600/month
