Top-Floor Residential Income
For Sale
$525,000
1512 FRANKFORD AVENUE Unit 3, Philadelphia, PA 19125
Bi-level condo with a private roof deck, open living areas, updated kitchen finishes, and in-unit laundry.
Property Size1,733 SF
Days on Market152
Property Features for 1512 FRANKFORD AVENUE Unit 3
General Information
Standard status
Active
Size
1,733 SF
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,033
Building Details
Building Size
1,733 SF
Year Built
2016
Listing Agency:
KW Empower
Listed By:
Jennifer L Geddes · License #RS321126
(215) 545-8700
Source:
Patmckennarealtors
Added: Apr 24
Changed: Sep 19
Last Checked: Sep 21 at 8:53AM
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 KW Empower
Investment Insights
Based on property information with market context.
Built in 2016, this top-floor, bi-level residential income property is configured as a three-bedroom, 2.5-bathroom condo with an open floor plan and abundant natural light. The home features dark walnut flooring, floor-to-ceiling bay windows with automated blinds, a kitchen with stainless steel appliances, quartz counters, a trash compactor, ample cabinetry, and a breakfast bar. The upper level includes a primary bedroom with an en-suite bathroom and walk-in closet, two additional bedrooms, a hall bathroom, and an in-unit washer and dryer. The unit has been freshly painted and is vacant.
A private roof deck measuring almost 650 square feet provides views of the city, the Ben Franklin Bridge, and the Fishtown area. The property is located at 1512 Frankford Avenue, Unit 3, in Philadelphia, with access to the Market-Frankford line, the Ben Franklin Bridge, and I-95. Nearby destinations named in the property information include Kalaya, Frankford Hall, WM Mulherins, Suraya, La Colombe, Pizzeria Beddia, and City Fitness.
A private roof deck measuring almost 650 square feet provides views of the city, the Ben Franklin Bridge, and the Fishtown area. The property is located at 1512 Frankford Avenue, Unit 3, in Philadelphia, with access to the Market-Frankford line, the Ben Franklin Bridge, and I-95. Nearby destinations named in the property information include Kalaya, Frankford Hall, WM Mulherins, Suraya, La Colombe, Pizzeria Beddia, and City Fitness.
Key Highlights
- Three‑bedroom, 2.5‑bathroom top‑floor, bi‑level condo
- Private roof deck measuring almost 650 sq ft
- Built in 2016 and freshly painted; currently vacant
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
$27,259
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
5.19%
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%
$545,180
$545.2K
Cap Rate 7%
$389,414
$389.4K
Cap Rate 9%
$302,878
$302.9K
Market Conditions
NOI Build-Up for 1,733 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
$52.6K $30.36/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$49.6K $28.60/SF
− OpEx
−$22.3K −$12.87/SF
NOI
$27.3K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$545,180
Cap Rate 7%
$389,414
Cap Rate 9%
$302,878
Alternative Uses
Best Use
Apartment 5plus
$389.4K
$340.7K – $454.3K
NOI $27,259 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$422.5K
$369.7K – $492.9K
NOI $29,573 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,513
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Bi-level condo with a private roof deck, open living areas, updated kitchen finishes, and in-unit laundry.
Where is this residential income property located?
The property is located at 1512 FRANKFORD AVENUE Unit 3 Philadelphia, PA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three‑bedroom, 2.5‑bathroom top‑floor, bi‑level condo; Private roof deck measuring almost 650 sq ft; Built in 2016 and freshly painted; currently vacant
