Updated Triplex With Patio
For Sale
$585,000
1626 S 19th St, Philadelphia, PA 19145
Three-unit property with modernized kitchens, bathrooms, and a newly installed HVAC system.
Property Size2,376 SF
Price / SF$246.21
Days on Market156
Property Features for 1626 S 19th St
General Information
Standard status
Active
Size
2,376 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,726
Listing Agency:
KW Empower
(215) 416-1823
Listed By:
salvatore frank piccolo
(215) 416-1823
Source:
Exprealty
Added: Mar 24
Changed: Aug 25
Last Checked: Aug 26 at 10:17AM
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.
This three-unit triplex includes two residences on the first floor and a full-floor apartment above. The front first-floor unit offers two bedrooms and one bathroom and is occupied, while the rear unit has one bedroom and one bathroom and is vacant. The second-floor residence contains two bedrooms and one full bathroom and is also vacant, providing flexibility for an owner-occupant or a new tenant arrangement.
Each unit has updated kitchen and bathroom finishes, and the building is equipped with a newly installed HVAC system. The upper-level apartment also includes a private patio deck. The property is located at 1626 S 19th St in Philadelphia’s Point Breeze neighborhood of South Philly.
Each unit has updated kitchen and bathroom finishes, and the building is equipped with a newly installed HVAC system. The upper-level apartment also includes a private patio deck. The property is located at 1626 S 19th St in Philadelphia’s Point Breeze neighborhood of South Philly.
Key Highlights
- Three‑unit triplex with two first‑floor residences and one full‑floor second‑floor apartment
- Recently updated kitchens and bathrooms throughout the building
- Newly installed HVAC system
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
$40,546
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
6.93%
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%
$810,920
$810.9K
Cap Rate 7%
$579,229
$579.2K
Cap Rate 9%
$450,511
$450.5K
Market Conditions
NOI Build-Up for 2,376 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
$61.3K $25.80/SF
− Vacancy
−$3.4K −$1.42/SF
EGI
$57.9K $24.38/SF
− OpEx
−$17.4K −$7.31/SF
NOI
$40.5K $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%
$810,920
Cap Rate 7%
$579,229
Cap Rate 9%
$450,511
Alternative Uses
Best Use
Multifamily LT 5
$579.2K
$506.8K – $675.8K
NOI $40,546 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$533.9K
$467.2K – $622.9K
NOI $37,373 @ 7.0% cap · market cap 6.39%
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
Location Intelligence
Trade Area within ½ mile
3,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
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-unit property with modernized kitchens, bathrooms, and a newly installed HVAC system.
Where is this triplex located?
The property is located at 1626 S 19th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Three‑unit triplex with two first‑floor residences and one full‑floor second‑floor apartment; Recently updated kitchens and bathrooms throughout the building; Newly installed HVAC system
