Four-Unit Residential Income
For Sale
$969,000
146 Vassar Street, Philadelphia, PA 19128
Four-unit property with exposed brick, in-unit laundry, and two extra-large garages for storage or parking.
Property Size3,697 SF
Price / SF$262.10
Days on Market69
Property Features for 146 Vassar Street
General Information
Standard status
Active
Size
3,697 SF
Total Parking Spaces
2
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
4
Amenities
exposed brick walls
central air
forced air
trey ceilings
in unit laundry
hardwood and carpeted flooring
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Keller Williams Real Estate-Blue Bell
Listed By:
Jayme Feiertag · License #RS295613
(610) 828-2224
Source:
Deepcreeklake
Added: Jul 8
Changed: Sep 13
Last Checked: Sep 14 at 8:18AM
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 Keller Williams Real Estate-Blue Bell
Investment Insights
Based on property information with market context.
146 Vassar Street is a unique four-unit residential income property featuring design details in each unit, including exposed brick walls, central air, forced air, trey ceilings, and in-unit laundry. Flooring is a mix of hardwood and carpeted surfaces, supporting both comfort and everyday livability.
The property also includes two extra-large garages, providing additional space that can support storage or parking needs for residents.
Offered for sale at 146 Vassar Street, this is a versatile, owner-occupant or investor-friendly setup, and it is described as being right by the Wissahickon Train Station.
The property also includes two extra-large garages, providing additional space that can support storage or parking needs for residents.
Offered for sale at 146 Vassar Street, this is a versatile, owner-occupant or investor-friendly setup, and it is described as being right by the Wissahickon Train Station.
Key Highlights
- 4‑unit property built in 1900 in Philadelphia
- Each unit features exposed brick, central air, forced air, trey ceilings, and in‑unit laundry
- Units include a mix of hardwood and carpeted flooring
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
$63,089
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
6.51%
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%
$1,261,780
$1.3M
Cap Rate 7%
$901,271
$901.3K
Cap Rate 9%
$700,989
$701.0K
Market Conditions
NOI Build-Up for 3,697 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
$95.4K $25.80/SF
− Vacancy
−$5.3K −$1.42/SF
EGI
$90.1K $24.38/SF
− OpEx
−$27.0K −$7.31/SF
NOI
$63.1K $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%
$1,261,780
Cap Rate 7%
$901,271
Cap Rate 9%
$700,989
Alternative Uses
Best Use
Multifamily LT 5
$901.3K
$788.6K – $1.05M
NOI $63,089 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$830.7K
$726.9K – $969.2K
NOI $58,152 @ 7.0% cap · market cap 6.00%
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
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,470
Businesses Nearby
Explore this area
Business Placement
Demographics for 19128, PA
36,808
Population
19,006
Households
1.9
Avg Household Size
36
Median Age
55%
College-Educated
95%
High-School Grad
7.0 sq mi
ZIP Area
5,258
Density / Sq Mi
$89,639
Median Household Income
$64,861
Median Earnings
$1,563
Median Rent
$330,800
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?
Quadplex - Four-unit property with exposed brick, in-unit laundry, and two extra-large garages for storage or parking.
Where is this quadplex located?
The property is located at 146 Vassar Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $969,000.
What are key features of this property?
This property features: 4‑unit property built in 1900 in Philadelphia; Each unit features exposed brick, central air, forced air, trey ceilings, and in‑unit laundry; Units include a mix of hardwood and carpeted flooring
