Remodeled Three-Unit
For Sale
$559,900
1415 ELLSWORTH Street, Philadelphia, PA 19146
Multi-Family, PHILADELPHIA, PA
Property Size1,536 SF
Lot Size0.03 Acres
Price / SF$364.52
Days on Market54
Property Features for 1415 ELLSWORTH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement, Dining Room
Parking features
On Street
Interior features
2nd Kitchen, Bathroom - Stall Shower, Bathroom - Walk-In Shower, Breakfast Area, Built-Ins, Ceiling Fan(s), Combination Kitchen/Dining, Combination Kitchen/Living, Crown Moldings, Dining Area, Flat, Floor Plan - Open, Kitchen - Eat-In, Kitchen - Island, Recessed Lighting, Upgraded Countertops, Window Treatments, Wood Floors
Appliances
Cooktop, Dishwasher, Exhaust Fan, Range Hood, Refrigerator, Stainless Steel Appliances, Washer/Dryer Hookups Only, WaterHeater
Subdivision
POINT BREEZE
Elementary school
EDWIN M. STANTON
Middle school
EDWIN M. STANTON
High school
SOUTH PHILADELPHIA
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
1,536 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
6021
Utilities
Heating system
Electric (Heating), Baseboard
Cooling system
Window Unit(s), Ceiling Fan(s)
Amenities
patio
Building Details
Year built
1925
Number of units
3
Building materials
Masonry, Aluminum Siding, Brick, Brick Front, Combination, Concrete, Copper Plumbing, CPVC/PVC, Mixed, Tile
Architectural style
Other
Listing Agency:
Century 21 Advantage Gold-South Philadelphia · Century 21 Real Estate
(215) 465-1400
Listed By:
Phong D Lam · License #RS307378
(267) 918-1880
Added: Jul 7
Changed: Aug 19
Last Checked: Aug 29 at 11:06AM
MLS# PAPH2644892
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 1,536-square-foot triplex occupies a 0.0257-acre rowhouse lot and contains one two-bedroom unit on the first floor plus two one-bedroom units upstairs. The first-floor residence includes an open living and dining area, eat-in kitchen with granite surfaces and island, laundry hookups, full bathroom, and access to an unfinished basement. A fenced rear patio extends the ground-floor unit. The two second-floor apartments each have a bedroom, kitchen, and full bathroom, with window air conditioning in both units. Wood flooring, crown molding, recessed lighting, ceiling fans, and updated bathroom finishes are found throughout the property. Renovation work to the first and second floors was completed in 2015. The building has three separate electric meters and three electric water-heater tanks, with baseboard heating and window-unit cooling. The roof received a silver coating in December 2025. The property is offered in as-is, where-is condition and includes on-street parking.
Key Highlights
- Three‑unit layout with one 2‑bedroom apartment and two 1‑bedroom apartments
- 1,536 square feet on a 0.0257‑acre lot
- First‑floor unit includes an eat‑in kitchen, granite island, laundry hookups, basement access, and fenced rear patio
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
$26,212
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
4.68%
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%
$524,240
$524.2K
Cap Rate 7%
$374,457
$374.5K
Cap Rate 9%
$291,244
$291.2K
Market Conditions
NOI Build-Up for 1,536 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
$39.6K $25.80/SF
− Vacancy
−$2.2K −$1.42/SF
EGI
$37.4K $24.38/SF
− OpEx
−$11.2K −$7.31/SF
NOI
$26.2K $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%
$524,240
Cap Rate 7%
$374,457
Cap Rate 9%
$291,244
Alternative Uses
Best Use
Multifamily LT 5
$374.5K
$327.7K – $436.9K
NOI $26,212 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$345.2K
$302.0K – $402.7K
NOI $24,161 @ 7.0% cap · market cap 4.32%
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
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,035
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
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 - South Philadelphia triplex with flexible unit layouts, updated interiors, basement storage, and convenient access to public transportation.
Where is this triplex located?
The property is located at 1415 ELLSWORTH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $559,900.
What are key features of this property?
This property features: Three‑unit layout with one 2‑bedroom apartment and two 1‑bedroom apartments; 1,536 square feet on a 0.0257‑acre lot; First‑floor unit includes an eat‑in kitchen, granite island, laundry hookups, basement access, and fenced rear patio
