Renovated Triplex with Private
For Sale
$1,200,000
1413 S Broad Street, Philadelphia, PA 19147
Fully renovated in 2014 and converted to three separately metered apartments with multiple private patio and deck spaces.
Property Size3,143 SF
Price / SF$381.80
Days on Market194
Property Features for 1413 S Broad Street
General Information
Standard status
Active
Size
3,143 SF
Total Parking Spaces
2
Property subtype
Multi-family
Lease Term
[]
Additional Details
Drive-In Doors
1
Multifamily Units
3
Building Details
Year Built
1915
Year Renovated
2014
Stories
3
Tenancy
Multi
Listing Agency:
KW Empower
Listed By:
Paul Chin · License #RS229203
(267) 210-0488
Source:
Deepcreeklake
Added: Feb 23
Changed: Sep 4
Last Checked: Aug 10 at 10:18AM
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 KW Empower
Investment Insights
Based on property information with market context.
This fully renovated triplex was converted from a single residence into three separately metered apartments. The property was renovated in 2014 and offers three self-contained units. Unit 1 features 3 bedrooms and 2.5 baths, a granite kitchen, and exclusive access to a partially finished basement, along with a private patio that provides two-car side-by-side parking via a remote-controlled roll-up garage door. Unit 2 offers 2 bedrooms and 1 bath with hardwood floors and a granite kitchen, plus a 25-foot rear sun deck. Unit 3 includes 2 bedrooms and 1 bath with a granite breakfast bar and a private rear deck.
Located at 1413 South Broad Street in Philadelphia, the home is described as having close proximity to restaurants, bars, supermarkets, and easy public transportation access.
The layout is arranged across three levels with a unit configuration of 3BR/2.5BA and two 2BR/1BA apartments, supporting flexible owner-occupant or investment use.
Located at 1413 South Broad Street in Philadelphia, the home is described as having close proximity to restaurants, bars, supermarkets, and easy public transportation access.
The layout is arranged across three levels with a unit configuration of 3BR/2.5BA and two 2BR/1BA apartments, supporting flexible owner-occupant or investment use.
Key Highlights
- Built in 1915 and fully renovated in 2014; converted into three separately metered apartments
- Unit 1: 3BR/2.5BA with granite kitchen; includes exclusive access to a partially finished basement
- Unit 1 private patio includes 2‑car parking via a remote‑controlled roll‑up garage door
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
$53,635
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
4.47%
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%
$1,072,700
$1.1M
Cap Rate 7%
$766,214
$766.2K
Cap Rate 9%
$595,944
$595.9K
Market Conditions
NOI Build-Up for 3,143 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
$81.1K $25.80/SF
− Vacancy
−$4.5K −$1.42/SF
EGI
$76.6K $24.38/SF
− OpEx
−$23.0K −$7.31/SF
NOI
$53.6K $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%
$1,072,700
Cap Rate 7%
$766,214
Cap Rate 9%
$595,944
Alternative Uses
Best Use
Multifamily LT 5
$766.2K
$670.4K – $893.9K
NOI $53,635 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$706.3K
$618.0K – $824.0K
NOI $49,438 @ 7.0% cap · market cap 4.12%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,265
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
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Frequently Asked Questions
What type of property is this?
Triplex - Fully renovated in 2014 and converted to three separately metered apartments with multiple private patio and deck spaces.
Where is this triplex located?
The property is located at 1413 S Broad Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Built in 1915 and fully renovated in 2014; converted into three separately metered apartments; Unit 1: 3BR/2.5BA with granite kitchen; includes exclusive access to a partially finished basement; Unit 1 private patio includes 2‑car parking via a remote‑controlled roll‑up garage door
