New Triplex in Point
For Sale
$899,000
1702 S 22ND Street, Philadelphia, PA 19145
MULTI_FAMILY - Contemporary - PHILADELPHIA, PA
Property Size4,000 SF
Lot Size0.02 Acres
Price / SF$224.75
Days on Market153
Property Features for 1702 S 22ND Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Rooms
Dining Room, Basement
Parking features
On Street
Interior features
Combination Dining/Living
Appliances
Built-In Microwave, Built-In Range, Dishwasher, Dryer, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
4,000 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
6118
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2024
Number of units
3
Building materials
Masonry
Architectural style
Contemporary
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(215) 923-7600
Listed By:
Frank Altamuro · License #RS297004
(215) 495-2348
Added: Feb 27
Changed: Jul 2
Last Checked: Jul 30 at 8:06PM
MLS# PAPH2587390
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brand-new construction triplex is located in the Point Breeze neighborhood. The property features three designed units with modern finishes, hardwood flooring, and natural light. Unit One, currently rented, includes an open-concept living and kitchen area with stainless steel appliances, white cabinets, quartz countertops, and a backsplash. It also features two first-floor bedrooms, a rear bedroom that opens to a spacious yard, a lower-level bedroom or flex space, and two full bathrooms. Unit Two has two bedrooms, two full bathrooms including a master en suite, a kitchen with stainless steel appliances and quartz finishes, and a stackable washer/dryer. Additional breezeway windows enhance sunlight. Unit Three includes two bedrooms with a master en suite, a modern kitchen, a stackable washer/dryer, and a private rooftop deck with views. All units include microwaves, refrigerators, and electric stoves. The property is located blocks from the Broad Street Line and close to Center City, the sports district, restaurants, major highways, and bridges. The property is situated on a lot of 0.0242 acres and the property size is 4000 square feet. The property is suitable for investors seeking rental income, owner-occupants, or multi-generational living. The property has an estimate of 9 years left on the tax abatement.
Key Highlights
- Many years (estimate 9) remaining on the tax abatement.
- Brand new construction triplex with three modern units.
- Each unit features modern kitchens with stainless steel appliances and quartz countertops.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.2k | $25.80 |
| − Vacancy | −$5.7k | −$1.42 |
| EGI | $97.5k | $24.38 |
| − OpEx | −$29.3k | −$7.31 |
| NOI | $68.3k | $17.06 |
4,000 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$975.1K
$853.3K – $1.14M
NOI $68,260 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$898.8K
$786.5K – $1.05M
NOI $62,918 @ 7.0% cap · market cap 7.00%
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
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,015
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Modern triplex with tax abatement and convenient location.
Where is this triplex located?
The property is located at 1702 S 22ND Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Many years (estimate 9) remaining on the tax abatement.; Brand new construction triplex with three modern units.; Each unit features modern kitchens with stainless steel appliances and quartz countertops.
