Block-to-Block Triplex with
For Sale
$674,999
1825 W Master Street, Philadelphia, PA 19121
Three-unit building fully gut-renovated in 2021, with covered parking accessed from Harlan Street.
Property Size2,958 SF
Days on Market121
Property Features for 1825 W Master Street
General Information
Standard status
Active
Size
2,958 SF
Total Parking Spaces
1
Property subtype
Multifamily
Site & Location
Neighborhood
North Philadelphia
Additional Details
Opportunity Zone
Yes
Multifamily Units
3
Building Details
Building Size
2,958 SF
Year Built
1915
Year Renovated
2021
Listing Agency:
MPN Realty, Inc.
Listed By:
Roman Melnyk
(215) 609-8621
Source:
Mpnrealty
Added: Jun 25
Changed: Oct 11
Last Checked: Oct 23 at 5:29AM
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 MPN Realty, Inc.
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Investment Insights
Based on property information with market context.
This three-unit triplex at 1825 W Master Street was fully gut-renovated in 2021. The building is configured as a block-to-block asset running from W Master Street to Harlan Street. One covered parking spot is provided, with entry from Harlan Street.
The property spans the block between W Master Street and Harlan Street and is described as being just one block from the rapidly developing Ridge Avenue area. The 1800 block of W Master Street is also identified as a Qualified Opportunity Zone (QOZ).
With three residential units and recent renovations, the property may fit buyers looking for a residential income asset with updated interior condition. The inclusion of a covered parking spot accessed from Harlan Street adds practical utility for tenants. The Opportunity Zone designation and proximity to the Ridge Avenue development context provide additional considerations for investors evaluating long-term hold strategies.
The property spans the block between W Master Street and Harlan Street and is described as being just one block from the rapidly developing Ridge Avenue area. The 1800 block of W Master Street is also identified as a Qualified Opportunity Zone (QOZ).
With three residential units and recent renovations, the property may fit buyers looking for a residential income asset with updated interior condition. The inclusion of a covered parking spot accessed from Harlan Street adds practical utility for tenants. The Opportunity Zone designation and proximity to the Ridge Avenue development context provide additional considerations for investors evaluating long-term hold strategies.
Key Highlights
- 3‑unit building fully gut‑renovated in 2021
- Year built: 1915
- Block‑to‑block layout running from W Master Street to Harlan Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,478
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,009,560
$1.0M
Cap Rate 7%
$721,114
$721.1K
Cap Rate 9%
$560,867
$560.9K
Market Conditions
NOI Build-Up for 2,958 SF
Gross rent
$76.3K $25.80/SF
− Vacancy
−$4.2K −$1.42/SF
EGI
$72.1K $24.38/SF
− OpEx
−$21.6K −$7.31/SF
NOI
$50.5K $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 Rate 5%
$1,009,560
Cap Rate 7%
$721,114
Cap Rate 9%
$560,867
Alternative Uses
Best Use
Multifamily LT 5
$721.1K
$631.0K – $841.3K
NOI $50,478 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$664.7K
$581.6K – $775.5K
NOI $46,528 @ 7.0% cap · market cap 6.89%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,512
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit building fully gut-renovated in 2021, with covered parking accessed from Harlan Street.
Where is this triplex located?
The property is located at 1825 W Master Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $674,999.
What are key features of this property?
This property features: 3‑unit building fully gut‑renovated in 2021; Year built: 1915; Block‑to‑block layout running from W Master Street to Harlan Street
