Three-Unit Residential
New
For Sale
$879,000
1819 CHRISTIAN STREET, Philadelphia, PA 19146
Three separate apartments offer varied layouts, kitchens, and private outdoor features.
Property Size2,100 SF
Days on Market5
Property Features for 1819 CHRISTIAN STREET
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Triplex
Units
Unit Mix
1 x 2BR, 1 x 2BR (duplex), 1 x studio
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,861
Building Details
Building Size
2,100 SF
Year Built
1915
Buildings
1
Listing Agency:
EXP Realty, LLC
Listed By:
Deidre M Quinn · License #RS276819
(267) 225-3678
Source:
Patmckennarealtors
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 7 at 8:02AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 1915 residential property contains three distinct apartments. The first-floor unit includes two bedrooms, hardwood living areas, a tiled kitchen with modern appliances and dishwasher, a full bathroom, and a dedicated basement with laundry equipment and storage. It also opens to a rear outdoor area suitable for gardening or dining.
A two-bedroom, two-level apartment occupies the front of the second floor. Its layout includes a living room, full kitchen, laundry closet, wet bar, full bathroom, and an exclusive deck with city views. The rear second-floor apartment is a studio with hardwood flooring, a kitchenette, and tiled backsplash. The property is in Philadelphia’s Graduate Hospital area, near South Street restaurants and businesses, Sprouts Farmers Market, Target, Rittenhouse Square, the Schuylkill River Trail, and public transportation. Center City and University City are also accessible from this location.
A two-bedroom, two-level apartment occupies the front of the second floor. Its layout includes a living room, full kitchen, laundry closet, wet bar, full bathroom, and an exclusive deck with city views. The rear second-floor apartment is a studio with hardwood flooring, a kitchenette, and tiled backsplash. The property is in Philadelphia’s Graduate Hospital area, near South Street restaurants and businesses, Sprouts Farmers Market, Target, Rittenhouse Square, the Schuylkill River Trail, and public transportation. Center City and University City are also accessible from this location.
Key Highlights
- Three separate residential units with two 2‑bedroom apartments and one studio
- First‑floor 2‑bedroom unit includes a basement with washer, dryer, and storage
- Second‑floor front apartment spans two levels and has an exclusive deck with city views
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
$35,836
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
4.08%
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%
$716,720
$716.7K
Cap Rate 7%
$511,943
$511.9K
Cap Rate 9%
$398,178
$398.2K
Market Conditions
NOI Build-Up for 2,100 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
$54.2K $25.80/SF
− Vacancy
−$3.0K −$1.42/SF
EGI
$51.2K $24.38/SF
− OpEx
−$15.4K −$7.31/SF
NOI
$35.8K $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%
$716,720
Cap Rate 7%
$511,943
Cap Rate 9%
$398,178
Alternative Uses
Best Use
Multifamily LT 5
$511.9K
$448.0K – $597.3K
NOI $35,836 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$471.9K
$412.9K – $550.5K
NOI $33,032 @ 7.0% cap · market cap 3.76%
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
6,584
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
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 separate apartments offer varied layouts, kitchens, and private outdoor features.
Where is this triplex located?
The property is located at 1819 CHRISTIAN STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Three separate residential units with two 2‑bedroom apartments and one studio; First‑floor 2‑bedroom unit includes a basement with washer, dryer, and storage; Second‑floor front apartment spans two levels and has an exclusive deck with city views
