Framed Triplex
For Sale
$475,000
1410 S 9TH Street, Philadelphia, PA 19147
Multi-Family, PHILADELPHIA, PA
Property Size2,090 SF
Lot Size0.03 Acres
Price / SF$227.27
Days on Market174
Property Features for 1410 S 9TH Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
On Street
Subdivision
PASSYUNK SQUARE
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
2,090 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
6362
Utilities
Heating system
Forced Air, Central
Cooling system
Central Air
Building Details
Year built
1915
Number of units
4
Building materials
Masonry
Architectural style
Contemporary
Listing Agency:
Keller Williams Realty
(856) 321-1212
Listed By:
Andrew F Cheng · License #RS3263312
(267) 506-7100
Added: Mar 17
Changed: Aug 26
Last Checked: Sep 6 at 1:06PM
MLS# PAPH2595294
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2090-square-foot masonry property is configured as a three-story triplex and was originally built in 1915. Framing is complete, leaving interior construction and finish work to be completed. The property carries approved three-family zoning and has a contemporary architectural style.
Situated in Philadelphia’s Passyunk Square area, the site is near shops, restaurants, transit, and parks. The property has central air conditioning, forced-air and central heating, and on-street parking. The lot measures 16 x 70, with a total area of 0.0257 acres. Plans and permits are available for review.
Situated in Philadelphia’s Passyunk Square area, the site is near shops, restaurants, transit, and parks. The property has central air conditioning, forced-air and central heating, and on-street parking. The lot measures 16 x 70, with a total area of 0.0257 acres. Plans and permits are available for review.
Key Highlights
- Approved 3‑family zoning for triplex configuration
- Framing complete; interior work and finishes remain
- 2090 square feet on a 0.0257‑acre lot
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
$35,666
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
7.51%
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%
$713,320
$713.3K
Cap Rate 7%
$509,514
$509.5K
Cap Rate 9%
$396,289
$396.3K
Market Conditions
NOI Build-Up for 2,090 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
$53.9K $25.80/SF
− Vacancy
−$3.0K −$1.42/SF
EGI
$51.0K $24.38/SF
− OpEx
−$15.3K −$7.31/SF
NOI
$35.7K $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%
$713,320
Cap Rate 7%
$509,514
Cap Rate 9%
$396,289
Alternative Uses
Best Use
Multifamily LT 5
$509.5K
$445.8K – $594.4K
NOI $35,666 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$469.6K
$410.9K – $547.9K
NOI $32,875 @ 7.0% cap · market cap 6.92%
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
4,201
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
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 - Three-story masonry structure with approved three-family zoning and interior completion work remaining.
Where is this triplex located?
The property is located at 1410 S 9TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Approved 3‑family zoning for triplex configuration; Framing complete; interior work and finishes remain; 2090 square feet on a 0.0257‑acre lot
