Quadplex With Unfinished
For Sale
$699,000
1803 S BROAD STREET, Philadelphia, PA 19148
Four-unit property near East Passyunk Avenue with flexible residential layouts and potential medical or professional commercial use on the first floor.
Property Size2,970 SF
Lot Size0.03 Acres
Days on Market114
Property Features for 1803 S BROAD STREET
General Information
Standard status
Active
Size
2,970 SF
Lot size
0.03 Acres
Property subtype
Quadruplex
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,219
Building Details
Building Size
2,970 SF
Year Built
1915
Buildings
1
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Gregory M Eleftherakis · License #RS322562
(610) 717-8390
Source:
Patmckennarealtors
Added: May 29
Changed: Sep 17
Last Checked: Sep 18 at 12:35PM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
Built in 1915, this Philadelphia quadplex occupies an approximately 18-foot-wide by 80-foot-deep footprint. The unit mix includes two spacious two-bedroom apartments and two studio units, along with a full unfinished basement. The first floor is eligible under zoning for medical or professional commercial use and is currently configured as a residential two-bedroom unit. Original architectural details remain throughout the property and may be incorporated into future renovation plans.
The property is located near East Passyunk Avenue’s restaurants, shops, cafés, and nightlife, with Columbus Square Park, the Italian Market, Newbold, and West Passyunk within walking distance. Tasker-Morris subway station is one block away, providing direct 15-minute access to Center City and the South Philly stadiums.
The property is located near East Passyunk Avenue’s restaurants, shops, cafés, and nightlife, with Columbus Square Park, the Italian Market, Newbold, and West Passyunk within walking distance. Tasker-Morris subway station is one block away, providing direct 15-minute access to Center City and the South Philly stadiums.
Key Highlights
- Quadplex built in 1915 with two 2‑bedroom units and two studio units
- 18' wide x 80' deep footprint
- Full unfinished basement
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
$50,683
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
7.25%
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%
$1,013,660
$1.0M
Cap Rate 7%
$724,043
$724.0K
Cap Rate 9%
$563,144
$563.1K
Market Conditions
NOI Build-Up for 2,970 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
$76.6K $25.80/SF
− Vacancy
−$4.2K −$1.42/SF
EGI
$72.4K $24.38/SF
− OpEx
−$21.7K −$7.31/SF
NOI
$50.7K $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%
$1,013,660
Cap Rate 7%
$724,043
Cap Rate 9%
$563,144
Alternative Uses
Best Use
Multifamily LT 5
$724.0K
$633.5K – $844.7K
NOI $50,683 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$667.4K
$584.0K – $778.6K
NOI $46,717 @ 7.0% cap · market cap 6.68%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property near East Passyunk Avenue with flexible residential layouts and potential medical or professional commercial use on the first floor.
Where is this quadplex located?
The property is located at 1803 S BROAD STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Quadplex built in 1915 with two 2‑bedroom units and two studio units; 18' wide x 80' deep footprint; Full unfinished basement
