Quadplex With Detached
For Sale
$999,000
146 VASSAR Street, Philadelphia, PA 19128
Multi-Family, PHILADELPHIA, PA
Property Size3,697 SF
Lot Size0.04 Acres
Price / SF$270.22
Days on Market48
Property Features for 146 VASSAR Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
2
Parking features
Garage - Detached
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
3,697 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
8992
Utilities
Heating system
Hot Water(Heating)
Cooling system
Central Air
Amenities
in unit laundry
Building Details
Year built
1900
Number of units
4
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Real Estate-Blue Bell · Keller Williams Realty
(215) 646-2900
Listed By:
Jayme Feiertag · License #RS295613
(610) 828-2224
Added: Jul 13
Changed: Aug 19
Last Checked: Aug 29 at 7:06AM
MLS# PAPH2647386
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 3,697-square-foot masonry quadplex contains four residential units and two extra-large detached garages. The garages provide substantial enclosed space for parking or storage. Unit interiors include exposed brick, central air, hot-water heating, trey ceilings, in-unit laundry, and a combination of hardwood and carpet flooring. Constructed in 1900, the property occupies a 0.0444-acre lot at 146 Vassar Street in Philadelphia.
The property is located by Wissahickon Train Station. Its four-unit configuration, detached garage buildings, and range of in-unit features support both rental-income ownership and an owner-occupant approach. Commercial lending is required for the purchase.
The property is located by Wissahickon Train Station. Its four-unit configuration, detached garage buildings, and range of in-unit features support both rental-income ownership and an owner-occupant approach. Commercial lending is required for the purchase.
Key Highlights
- Four‑unit property with 3,697 square feet of building area
- Two extra‑large detached garages for parking or storage
- Central air, hot‑water heating, and in‑unit laundry
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
6.32%
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 6.32%
Second Best
Apartment 5plus
$830.7K
$726.9K – $969.2K
NOI $58,152 @ 7.0% cap · market cap 5.82%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Masonry income property near Wissahickon Train Station with central air and in-unit laundry.
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 $999,000.
What are key features of this property?
This property features: Four‑unit property with 3,697 square feet of building area; Two extra‑large detached garages for parking or storage; Central air, hot‑water heating, and in‑unit laundry
