Three-Unit
For Sale
$785,000
1820 FAIRMOUNT AVENUE, Philadelphia, PA 19130
Tenant-occupied, three-story property with three separate residential units.
Property Size2,200 SF
Price / SF$356.82
Days on Market12
Property Features for 1820 FAIRMOUNT AVENUE
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Triplex
Units
Unit Mix
1 x 2BR/2BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Year Built
1920
Buildings
1
Stories
3
Listing Agency:
Coldwell Banker Realty
(215) 768-2315
Listed By:
Jocelyn Schermerhorn · License #RS341642
(215) 768-2315
Source:
Cummingsrealtors
Added: Aug 1
Changed: Aug 11
Last Checked: Aug 11 at 6:28AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1920, this 2,200-square-foot triplex contains three separate residential apartments across three stories. The first-floor unit has two bedrooms and two full bathrooms; the upper-level apartments each provide one bedroom and one full bathroom. Existing tenant occupancy is in place, and the property is being sold in as-is condition.
The property is located at 1820 Fairmount Avenue in Philadelphia’s Fairmount neighborhood, near Center City, local restaurants and shops, public transportation, the Parkway Museums District, and Fairmount’s parks and recreational attractions. Nearby cultural destinations identified for the area include the Philadelphia Museum of Art, Barnes Foundation, Franklin Institute, and Eastern State Penitentiary. Buyers are responsible for verifying zoning, licensing, unit measurements, rental information, and other property details.
The property is located at 1820 Fairmount Avenue in Philadelphia’s Fairmount neighborhood, near Center City, local restaurants and shops, public transportation, the Parkway Museums District, and Fairmount’s parks and recreational attractions. Nearby cultural destinations identified for the area include the Philadelphia Museum of Art, Barnes Foundation, Franklin Institute, and Eastern State Penitentiary. Buyers are responsible for verifying zoning, licensing, unit measurements, rental information, and other property details.
Key Highlights
- Three separate residential units in a three‑story triplex
- 2,200 SF building constructed in 1920
- First‑floor apartment has 2 bedrooms and 2 full bathrooms
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
$37,543
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
4.78%
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%
$750,860
$750.9K
Cap Rate 7%
$536,329
$536.3K
Cap Rate 9%
$417,144
$417.1K
Market Conditions
NOI Build-Up for 2,200 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
$56.8K $25.80/SF
− Vacancy
−$3.1K −$1.42/SF
EGI
$53.6K $24.38/SF
− OpEx
−$16.1K −$7.31/SF
NOI
$37.5K $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%
$750,860
Cap Rate 7%
$536,329
Cap Rate 9%
$417,144
Alternative Uses
Best Use
Multifamily LT 5
$536.3K
$469.3K – $625.7K
NOI $37,543 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$494.4K
$432.6K – $576.8K
NOI $34,605 @ 7.0% cap · market cap 4.41%
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
3,045
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
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 - Tenant-occupied, three-story property with three separate residential units.
Where is this triplex located?
The property is located at 1820 FAIRMOUNT AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Three separate residential units in a three‑story triplex; 2,200 SF building constructed in 1920; First‑floor apartment has 2 bedrooms and 2 full bathrooms
