Renovated Triplex With Walk-Out
For Sale
$650,000
Pending
1828 West Venango Street, Philadelphia, PA 19140
Three vacant units feature new appliances and finished basement space.
Property Size3,000 SF
Days on Market111
Property Features for 1828 West Venango Street
General Information
Standard status
Pending
Size
3,000 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,771
Amenities
Yes
ENERGY STAR Refrigerator, ENERGY STAR Dishwasher, ENERGY STAR Clothes Washer, Energy Efficient Appliances
2
Other
Doors - Swing In
No
No Pool
Sidewalks, Street Lights
Patio(s)
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Realty Mark Associates
(215) 360-1741
Listed By:
Robin Gill · License #RS323501
(215) 360-1741
Source:
Compass
Added: May 13
Changed: Aug 30
Last Checked: Aug 30 at 4:56PM
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 Realty Mark Associates
Investment Insights
Based on property information with market context.
This 3,000-square-foot triplex, built in 1915, has undergone a full renovation and includes three vacant residential units. Each unit is equipped with brand-new washers, dryers, refrigerators, and range ovens. The property also provides a fully finished walk-out basement, patio space, sidewalks, and street lighting.
Located at 1828 West Venango Street in Philadelphia’s 19140 area, the property is within the Philadelphia City School District and carries RSA5 zoning. Energy-efficient appliances include ENERGY STAR refrigerators, dishwashers, and clothes washers. All three units are currently unoccupied and prepared for leasing.
Located at 1828 West Venango Street in Philadelphia’s 19140 area, the property is within the Philadelphia City School District and carries RSA5 zoning. Energy-efficient appliances include ENERGY STAR refrigerators, dishwashers, and clothes washers. All three units are currently unoccupied and prepared for leasing.
Key Highlights
- 3,000‑square‑foot triplex with three residential units
- Full‑building renovation completed with updated interior finishes
- Each unit includes brand‑new washers, dryers, refrigerators, and range ovens
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
$51,195
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
7.88%
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%
$1,023,900
$1.0M
Cap Rate 7%
$731,357
$731.4K
Cap Rate 9%
$568,833
$568.8K
Market Conditions
NOI Build-Up for 3,000 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
$77.4K $25.80/SF
− Vacancy
−$4.3K −$1.42/SF
EGI
$73.1K $24.38/SF
− OpEx
−$21.9K −$7.31/SF
NOI
$51.2K $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%
$1,023,900
Cap Rate 7%
$731,357
Cap Rate 9%
$568,833
Alternative Uses
Best Use
Multifamily LT 5
$731.4K
$639.9K – $853.3K
NOI $51,195 @ 7.0% cap · market cap 7.88%
Second Best
Apartment 5plus
$674.1K
$589.9K – $786.5K
NOI $47,189 @ 7.0% cap · market cap 7.26%
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
3,196
Businesses Nearby
Explore this area
Business Placement
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
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 vacant units feature new appliances and finished basement space.
Where is this triplex located?
The property is located at 1828 West Venango Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,000‑square‑foot triplex with three residential units; Full‑building renovation completed with updated interior finishes; Each unit includes brand‑new washers, dryers, refrigerators, and range ovens
