Occupied Four-Unit Multifamily
For Sale
$683,000
1528-00 N 18TH STREET, Philadelphia, PA 19121
Four occupied units with tenant-paid utilities support a straightforward multifamily operating structure.
Property Size2,698 SF
Price / SF$253.15
Days on Market10
Property Features for 1528-00 N 18TH STREET
General Information
Standard status
Active
Size
2,698 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
4
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Keller Williams Main Line
(610) 520-0100
Listed By:
Lisa Pho
(856) 426-7087
Source:
Cummingsrealtors
Added: Sep 18
Changed: Sep 26
Last Checked: Sep 26 at 10:13AM
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 Main Line
Investment Insights
Based on property information with market context.
This 1915-built quadplex contains four residential units within a 2,698-square-foot multifamily property. All units are occupied, providing an established operating profile for the asset.
Tenants pay all utilities, which helps limit the landlord’s responsibility for those operating costs. The property is located on N 18th Street in Philadelphia’s Temple University area, near Temple University, public transportation, shopping, and neighborhood amenities.
Tenants pay all utilities, which helps limit the landlord’s responsibility for those operating costs. The property is located on N 18th Street in Philadelphia’s Temple University area, near Temple University, public transportation, shopping, and neighborhood amenities.
Key Highlights
- Four‑unit quadplex
- 2,698‑square‑foot multifamily property
- Built in 1915
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
$46,041
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
6.74%
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%
$920,820
$920.8K
Cap Rate 7%
$657,729
$657.7K
Cap Rate 9%
$511,567
$511.6K
Market Conditions
NOI Build-Up for 2,698 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
$69.6K $25.80/SF
− Vacancy
−$3.8K −$1.42/SF
EGI
$65.8K $24.38/SF
− OpEx
−$19.7K −$7.31/SF
NOI
$46.0K $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%
$920,820
Cap Rate 7%
$657,729
Cap Rate 9%
$511,567
Alternative Uses
Best Use
Multifamily LT 5
$657.7K
$575.5K – $767.4K
NOI $46,041 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$606.3K
$530.5K – $707.3K
NOI $42,438 @ 7.0% cap · market cap 6.21%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Four occupied units with tenant-paid utilities support a straightforward multifamily operating structure.
Where is this quadplex located?
The property is located at 1528-00 N 18TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $683,000.
What are key features of this property?
This property features: Four‑unit quadplex; 2,698‑square‑foot multifamily property; Built in 1915
