Updated Triplex With Flex
For Sale
$869,000
Pending
1620 Mount Vernon St, Philadelphia, PA 19130
Three rental units are complemented by private-access flex areas, laundry facilities, a basement, and outdoor space.
Property Size2,700 SF
Days on Market80
Property Features for 1620 Mount Vernon St
General Information
Standard status
Pending
Size
2,700 SF
Property subtype
Residential Income
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 1BR/1BA, 1 x studio
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,548
Amenities
private rear yard
rear deck
basement storage
marble fireplace
in-unit laundry
Building Details
Buildings
1
Construction
brick
Listing Agency:
OCF Realty LLC - Philadelphia
(856) 347-0434
Listed By:
Kevin M McGettigan · License #RS326539
(856) 347-0434
Source:
Exprealty
Added: Jun 12
Changed: Aug 20
Last Checked: Aug 29 at 3:17PM
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 OCF Realty LLC - Philadelphia
Investment Insights
Based on property information with market context.
This 2,700-square-foot triplex contains three rental units plus three private-access flex spaces on each floor. The first-floor residence offers one bedroom, one bathroom, natural light, and access to a rear yard. A second-floor one-bedroom, one-bath unit includes separate laundry, while the third-floor studio has a full bathroom, in-unit laundry, and a rear deck. Flex areas add substantial supplemental space, including a large first-floor room with original wood floors and a marble fireplace, along with second- and third-floor areas featuring kitchenettes and full bathrooms with glass walk-in showers.
The building retains historic architectural details, including a brick exterior, marble entry, original woodwork, and a distinctive wood doorway. A full-length unfinished basement provides storage space. The property is legally zoned as a triplex and is located on Mount Vernon Street in Philadelphia's Fairmount/Spring Garden area, two blocks west of the Broad Street Line's Spring Garden Station, with nearby SEPTA bus routes, bike lanes, neighborhood retail, restaurants, parks, and access to the Benjamin Franklin Parkway and I-76.
The building retains historic architectural details, including a brick exterior, marble entry, original woodwork, and a distinctive wood doorway. A full-length unfinished basement provides storage space. The property is legally zoned as a triplex and is located on Mount Vernon Street in Philadelphia's Fairmount/Spring Garden area, two blocks west of the Broad Street Line's Spring Garden Station, with nearby SEPTA bus routes, bike lanes, neighborhood retail, restaurants, parks, and access to the Benjamin Franklin Parkway and I-76.
Key Highlights
- 2,700‑square‑foot building legally zoned as a triplex
- Three rental units plus three private‑access flex spaces on each floor
- Unit mix includes two 1‑bedroom residences and one studio
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
$46,075
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
5.30%
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%
$921,500
$921.5K
Cap Rate 7%
$658,214
$658.2K
Cap Rate 9%
$511,944
$511.9K
Market Conditions
NOI Build-Up for 2,700 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
$69.7K $25.80/SF
− Vacancy
−$3.8K −$1.42/SF
EGI
$65.8K $24.38/SF
− OpEx
−$19.7K −$7.31/SF
NOI
$46.1K $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%
$921,500
Cap Rate 7%
$658,214
Cap Rate 9%
$511,944
Alternative Uses
Best Use
Multifamily LT 5
$658.2K
$575.9K – $767.9K
NOI $46,075 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$606.7K
$530.9K – $707.8K
NOI $42,470 @ 7.0% cap · market cap 4.89%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
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?
Triplex - Three rental units are complemented by private-access flex areas, laundry facilities, a basement, and outdoor space.
Where is this triplex located?
The property is located at 1620 Mount Vernon St Philadelphia, PA.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: 2,700‑square‑foot building legally zoned as a triplex; Three rental units plus three private‑access flex spaces on each floor; Unit mix includes two 1‑bedroom residences and one studio
