Fully Leased
For Sale
$450,000
1729 West Montgomery Avenue, Philadelphia, PA 19121
Each residence includes three bedrooms, three baths, hardwood floors, and in-unit laundry.
Property Size2,508 SF
Price / SF$179.43
Days on Market185
Property Features for 1729 West Montgomery Avenue
General Information
Standard status
Active
Size
2,508 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Occupancy
100%
Units
Unit Mix
3 x 3BR/3BA
Multifamily Units
3
Additional Details
Gross Income
$56,520
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,638
Amenities
in-unit washer/dryer
hardwood flooring
dishwasher
range
refrigerator
No
https://my.matterport.com/show/?m=CGH8ToFDRme
No Pool
Above Grade, Below Grade
Building Details
Year Built
1915
Buildings
1
Listing Agency:
KW Philly
Listed By:
Edward J Foy Jr. · License #RS331193
(610) 908-9391
Source:
Compass
Added: Mar 8
Changed: Sep 8
Last Checked: Sep 7 at 7:08PM
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 Philly
Investment Insights
Based on property information with market context.
Built in 1915, this triplex contains three separately leased residences, each configured with three bedrooms and three bathrooms. Hardwood flooring runs throughout the units, while in-unit washers and dryers add practical convenience. Kitchens include dishwashers, ranges, and refrigerators, and building systems feature forced-air heat and central A/C.
The property is fully occupied and positioned near Temple University in Philadelphia. Public transportation, restaurants, and neighborhood amenities are located nearby, supporting access to the surrounding rental corridor.
Tenants are responsible for all utilities. The combination of three-bedroom layouts, individual laundry, central air conditioning, and existing occupancy provides a defined multifamily configuration for an owner seeking a leased triplex.
The property is fully occupied and positioned near Temple University in Philadelphia. Public transportation, restaurants, and neighborhood amenities are located nearby, supporting access to the surrounding rental corridor.
Tenants are responsible for all utilities. The combination of three-bedroom layouts, individual laundry, central air conditioning, and existing occupancy provides a defined multifamily configuration for an owner seeking a leased triplex.
Key Highlights
- Three‑unit triplex with 3 bedrooms and 3 bathrooms per unit
- Fully occupied with all utilities paid by tenants
- In‑unit washer and dryer in every residence
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
$39,450
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
8.77%
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%
$789,000
$789.0K
Cap Rate 7%
$563,571
$563.6K
Cap Rate 9%
$438,333
$438.3K
Market Conditions
NOI Build-Up for 2,508 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
$76.1K $30.36/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$71.7K $28.60/SF
− OpEx
−$32.3K −$12.87/SF
NOI
$39.4K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$789,000
Cap Rate 7%
$563,571
Cap Rate 9%
$438,333
Alternative Uses
Best Use
Multifamily LT 5
$611.4K
$535.0K – $713.3K
NOI $42,799 @ 7.0% cap · market cap 9.51%
Second Best
Apartment 5plus
$563.6K
$493.1K – $657.5K
NOI $39,450 @ 7.0% cap · market cap 8.77%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,065
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 - Each residence includes three bedrooms, three baths, hardwood floors, and in-unit laundry.
Where is this triplex located?
The property is located at 1729 West Montgomery Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three‑unit triplex with 3 bedrooms and 3 bathrooms per unit; Fully occupied with all utilities paid by tenants; In‑unit washer and dryer in every residence
