Four-Unit Multifamily
For Sale
$709,000
1508 S Broad, Philadelphia, PA 19146
Multifamily property with a three-bedroom, one-bedroom unit mix and access to Center City amenities and transit.
Property Size3,105 SF
Price / SF$228.34
Days on Market20
Property Features for 1508 S Broad
General Information
Standard status
Active
Size
3,105 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
4
Building Details
Year Built
1921
Buildings
1
Listing Agency:
Keller Williams Real Estate Tri-County
(215) 292-6429
Listed By:
Vincent Carnuccio · License #RS317863
Source:
Upgradebymichaud
Added: Aug 10
Changed: Aug 28
Last Checked: Aug 29 at 12:05PM
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 Tri-County
Investment Insights
Based on property information with market context.
This 3,105-square-foot quadplex, built in 1921, contains four residential units arranged in a 3-1 configuration. The property offers bright living areas and a unit mix that includes three units of one bedroom count and one unit of another, as identified in the listing data.
Located at 1508 S Broad in Philadelphia, the building is near Center City, the Avenue of the Arts, dining, retail, entertainment, cultural destinations, and major employers. Public transportation options include the Broad Street Line and multiple bus routes, with connections to major highways also noted. The South Broad Street setting provides access to established city amenities and regional mobility.
Located at 1508 S Broad in Philadelphia, the building is near Center City, the Avenue of the Arts, dining, retail, entertainment, cultural destinations, and major employers. Public transportation options include the Broad Street Line and multiple bus routes, with connections to major highways also noted. The South Broad Street setting provides access to established city amenities and regional mobility.
Key Highlights
- 4‑unit quadplex with a 3‑1 unit configuration
- 3,105 SF multifamily building
- Built in 1921
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
$52,986
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
7.47%
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%
$1,059,720
$1.1M
Cap Rate 7%
$756,943
$756.9K
Cap Rate 9%
$588,733
$588.7K
Market Conditions
NOI Build-Up for 3,105 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
$80.1K $25.80/SF
− Vacancy
−$4.4K −$1.42/SF
EGI
$75.7K $24.38/SF
− OpEx
−$22.7K −$7.31/SF
NOI
$53.0K $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%
$1,059,720
Cap Rate 7%
$756,943
Cap Rate 9%
$588,733
Alternative Uses
Best Use
Multifamily LT 5
$756.9K
$662.3K – $883.1K
NOI $52,986 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$697.7K
$610.5K – $814.0K
NOI $48,840 @ 7.0% cap · market cap 6.89%
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
4,093
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Multifamily property with a three-bedroom, one-bedroom unit mix and access to Center City amenities and transit.
Where is this quadplex located?
The property is located at 1508 S Broad Philadelphia, PA.
What is the asking price?
The asking price for this property is $709,000.
What are key features of this property?
This property features: 4‑unit quadplex with a 3‑1 unit configuration; 3,105 SF multifamily building; Built in 1921
