Three-Family Residential Income
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 Market160
Property Features for 1410 S 9TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
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
Central, Forced Air
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 19
Last Checked: Aug 23 at 10:06AM
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 three-story residential income building is offered as a triplex project with 3-family zoning approval. The framing is complete and the property is ready for interior buildout and finishes.
The lot measures 16 x 70. The property is located in Philadelphia and is described as being near retail, dining, transit, and parks.
At the time of listing, the building is positioned for completion as a multi-unit residence following the approved 3-family zoning.
The lot measures 16 x 70. The property is located in Philadelphia and is described as being near retail, dining, transit, and parks.
At the time of listing, the building is positioned for completion as a multi-unit residence following the approved 3-family zoning.
Key Highlights
- Prime Passyunk Square location near shops, restaurants, transit, and parks.
- Approved 3‑family zoning in a strong rental market.
- Excellent investment opportunity for owner‑occupant or developer.
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 triplex project is framed and ready for interiors on a small lot.
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: Prime Passyunk Square location near shops, restaurants, transit, and parks.; Approved 3‑family zoning in a strong rental market.; Excellent investment opportunity for owner‑occupant or developer.
