Three-Unit Triplex with
New
For Sale
$879,000
1819 CHRISTIAN Street, Philadelphia, PA 19146
Multi-Family, PHILADELPHIA, PA
Property Size2,100 SF
Lot Size0.03 Acres
Price / SF$418.57
Days on Market3
Property Features for 1819 CHRISTIAN Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking features
On Street
Appliances
Dishwasher, Dryer, Oven/Range - Gas, Refrigerator, Stove, Washer
Subdivision
GRADUATE HOSPITAL
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,100 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
9861
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1915
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Deidre M Quinn · License #RS276819
(267) 225-3678
Added: Sep 3
Last Checked: Sep 5 at 8:06AM
MLS# PAPH2665544
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.
Built in 1915, this 2,100-square-foot masonry triplex contains three separate residential units. The first-floor apartment offers two bedrooms, hardwood living areas, a tiled kitchen with dishwasher, private basement laundry and storage, plus access to a rear outdoor area. Upstairs, the front residence is arranged across two levels with two bedrooms, a wet bar, laundry closet, and a private deck with city views. The rear second-floor unit is a studio with hardwood flooring and a compact kitchen area.
The property is located at 1819 Christian Street in Philadelphia’s Graduate Hospital area, near South Street restaurants, cafes, and businesses, along with Sprouts Farmers Market, Target, Rittenhouse Square, the Schuylkill River Trail, and public transportation. Center City, University City, and Philadelphia employment, education, and medical destinations are also accessible from the property. Building systems include forced-air heating and central air conditioning; parking is on street.
The property is located at 1819 Christian Street in Philadelphia’s Graduate Hospital area, near South Street restaurants, cafes, and businesses, along with Sprouts Farmers Market, Target, Rittenhouse Square, the Schuylkill River Trail, and public transportation. Center City, University City, and Philadelphia employment, education, and medical destinations are also accessible from the property. Building systems include forced-air heating and central air conditioning; parking is on street.
Key Highlights
- Three separate residential units: two 2‑bedroom apartments and one studio
- 2,100 square feet on a 0.025‑acre lot
- Private upper‑level 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 - Masonry Philadelphia income property with varied unit layouts, central air, forced-air heat, and dedicated outdoor areas.
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: two 2‑bedroom apartments and one studio; 2,100 square feet on a 0.025‑acre lot; Private upper‑level deck with city views
