Historic Three-Unit
New
For Sale
$899,999
1415 BROAD STREET, Philadelphia, PA 19147
Character-rich triplex with a vacant updated residence, leased apartments, private parking, and substantial storage.
Property Size4,800 SF
Days on Market4
Property Features for 1415 BROAD STREET
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
1
Property subtype
Triplex
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,120
Building Details
Building Size
4,800 SF
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
LPT Realty, LLC
Listed By:
Kelly Christine Fox
(615) 477-6724
Source:
Patmckennarealtors
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 20 at 10:44AM
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.
Built in 1915, this 4,800-square-foot triplex contains three two-bedroom residences with distinct layouts and original architectural details. The updated first-floor unit is vacant and includes one-and-a-half baths, a formal living room, separate sitting room, and dedicated dining room. The property retains vintage tilework, original sinks, radiator heat, and other period features. Units 2 and 3 are occupied under annual leases.
A private garage accommodates one car and includes additional storage. An expansive basement connected to Unit 1 provides further space. The property is next to SEPTA train and bus stops and is steps from East Passyunk. The address is 1415 Broad Street, Philadelphia, PA 19147.
A private garage accommodates one car and includes additional storage. An expansive basement connected to Unit 1 provides further space. The property is next to SEPTA train and bus stops and is steps from East Passyunk. The address is 1415 Broad Street, Philadelphia, PA 19147.
Key Highlights
- Three‑unit property with 4,800 square feet and a 1915 construction date
- All three residences offer a two‑bedroom layout
- Updated first‑floor unit is vacant and includes 1.5 baths
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
$81,911
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
9.10%
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%
$1,638,220
$1.6M
Cap Rate 7%
$1,170,157
$1.2M
Cap Rate 9%
$910,122
$910.1K
Market Conditions
NOI Build-Up for 4,800 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
$123.8K $25.80/SF
− Vacancy
−$6.8K −$1.42/SF
EGI
$117.0K $24.38/SF
− OpEx
−$35.1K −$7.31/SF
NOI
$81.9K $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%
$1,638,220
Cap Rate 7%
$1,170,157
Cap Rate 9%
$910,122
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.02M – $1.37M
NOI $81,911 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$1.08M
$943.8K – $1.26M
NOI $75,502 @ 7.0% cap · market cap 8.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,436
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Character-rich triplex with a vacant updated residence, leased apartments, private parking, and substantial storage.
Where is this triplex located?
The property is located at 1415 BROAD STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Three‑unit property with 4,800 square feet and a 1915 construction date; All three residences offer a two‑bedroom layout; Updated first‑floor unit is vacant and includes 1.5 baths
