Renovated Triplex With Modern
For Sale
$464,900
Pending
1493 N 53RD STREET, Philadelphia, PA 19131
Three updated apartments feature contemporary kitchens, refreshed baths, separate electric meters, and individual central-air systems.
Property Size1,775 SF
Days on Market53
Property Features for 1493 N 53RD STREET
General Information
Standard status
Pending
Size
1,775 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$2,341
Building Details
Building Size
1,775 SF
Year Built
1925
Listing Agency:
Century 21 Advantage Gold-Southampton
Listed By:
Connery Koski · License #AB069215
(215) 954-4414
Source:
Patmckennarealtors
Added: Aug 1
Changed: Sep 10
Last Checked: Sep 21 at 7:21AM
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 Century 21 Advantage Gold-Southampton
Investment Insights
Based on property information with market context.
Built in 1925, this renovated triplex contains three apartments arranged as one first-floor one-bedroom residence and two two-bedroom residences above. The interiors include open layouts, recessed lighting, plank flooring, contemporary kitchens, and updated bathrooms. Kitchen improvements include shaker cabinetry, quartz work surfaces, stainless-steel appliances, and black-finish accents. Bathrooms feature large-format tile, recessed shower storage, modern vanities, and matte-black fixtures.
The property operates entirely on electric service, with separate meters and an individual central-air system serving each apartment. All three residences are described as move-in ready, combining updated finishes with modernized mechanical systems. Projected income and operating information require independent verification.
The property operates entirely on electric service, with separate meters and an individual central-air system serving each apartment. All three residences are described as move-in ready, combining updated finishes with modernized mechanical systems. Projected income and operating information require independent verification.
Key Highlights
- Three‑unit configuration with one 1‑bedroom apartment and two 2‑bedroom apartments
- Renovated interiors with plank flooring, recessed lighting, and open living areas
- Contemporary kitchens with shaker cabinets, quartz counters, and stainless‑steel appliances
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
$30,290
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
6.52%
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%
$605,800
$605.8K
Cap Rate 7%
$432,714
$432.7K
Cap Rate 9%
$336,556
$336.6K
Market Conditions
NOI Build-Up for 1,775 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
$45.8K $25.80/SF
− Vacancy
−$2.5K −$1.42/SF
EGI
$43.3K $24.38/SF
− OpEx
−$13.0K −$7.31/SF
NOI
$30.3K $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%
$605,800
Cap Rate 7%
$432,714
Cap Rate 9%
$336,556
Alternative Uses
Best Use
Multifamily LT 5
$432.7K
$378.6K – $504.8K
NOI $30,290 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$398.9K
$349.0K – $465.3K
NOI $27,920 @ 7.0% cap · market cap 6.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,162
Businesses Nearby
Explore this area
Business Placement
Demographics for 19131, PA
42,705
Population
22,826
Households
1.9
Avg Household Size
38
Median Age
30%
College-Educated
92%
High-School Grad
5.3 sq mi
ZIP Area
8,058
Density / Sq Mi
$46,057
Median Household Income
$40,052
Median Earnings
$1,312
Median Rent
$163,900
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 - Three updated apartments feature contemporary kitchens, refreshed baths, separate electric meters, and individual central-air systems.
Where is this triplex located?
The property is located at 1493 N 53RD STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $464,900.
What are key features of this property?
This property features: Three‑unit configuration with one 1‑bedroom apartment and two 2‑bedroom apartments; Renovated interiors with plank flooring, recessed lighting, and open living areas; Contemporary kitchens with shaker cabinets, quartz counters, and stainless‑steel appliances
