Redbrick Triplex Near
For Sale
$645,000
1701 W JEFFERSON STREET, Philadelphia, PA 19121
Three-unit redbrick triplex offering over 3,000 SF of multi-level residential income space.
Property Size3,081 SF
Days on Market482
Property Features for 1701 W JEFFERSON STREET
General Information
Standard status
Active
Size
3,081 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$6,208
Building Details
Building Size
3,081 SF
Year Built
1915
Listing Agency:
Keller Williams Liberty Place
Listed By:
Ryan J McManus · License #RS316262
(610) 606-1095
Source:
Patmckennarealtors
Added: May 15, 2025
Changed: Sep 6
Last Checked: Sep 8 at 11:42AM
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 Liberty Place
Investment Insights
Based on property information with market context.
1701 West Jefferson Street is a three-unit redbrick triplex with multi-level apartments and over 3,000 SF of rentable space. The building is presented as a turnkey investment opportunity, with 12 beds included across the three units.
The property is described as being just off main campus at Temple University in Philadelphia, with the remarks referencing the North Broad campus area.
1701 West Jefferson may be purchased on its own or as part of the Temple University Spring Semester Portfolio (TUSSP), which is noted to include a total of six buildings and 18 units (64 beds) across multiple additional properties.
The property is described as being just off main campus at Temple University in Philadelphia, with the remarks referencing the North Broad campus area.
1701 West Jefferson may be purchased on its own or as part of the Temple University Spring Semester Portfolio (TUSSP), which is noted to include a total of six buildings and 18 units (64 beds) across multiple additional properties.
Key Highlights
- 3‑unit redbrick triplex built in 1915
- Over 3,000 SF of multi‑level residential income space
- Includes 12 beds across the three units
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
$52,577
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
8.15%
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%
$1,051,540
$1.1M
Cap Rate 7%
$751,100
$751.1K
Cap Rate 9%
$584,189
$584.2K
Market Conditions
NOI Build-Up for 3,081 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
$79.5K $25.80/SF
− Vacancy
−$4.4K −$1.42/SF
EGI
$75.1K $24.38/SF
− OpEx
−$22.5K −$7.31/SF
NOI
$52.6K $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%
$1,051,540
Cap Rate 7%
$751,100
Cap Rate 9%
$584,189
Alternative Uses
Best Use
Multifamily LT 5
$751.1K
$657.2K – $876.3K
NOI $52,577 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$692.3K
$605.8K – $807.7K
NOI $48,463 @ 7.0% cap · market cap 7.51%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,243
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
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 redbrick triplex offering over 3,000 SF of multi-level residential income space.
Where is this triplex located?
The property is located at 1701 W JEFFERSON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 3‑unit redbrick triplex built in 1915; Over 3,000 SF of multi‑level residential income space; Includes 12 beds across the three units
