Renovated Four-Unit
For Sale
$680,000
1829 N 33RD Street, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size3,271 SF
Lot Size0.04 Acres
Price / SF$207.89
Days on Market11
Property Features for 1829 N 33RD Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking features
On Street
Appliances
Built-In Microwave, Dishwasher, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer/Dryer Stacked, WaterHeater
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
3,271 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
4149
Utilities
Heating system
Forced Air
Cooling system
Ductless, Central Air
Amenities
central air
in-unit washer/dryer
Building Details
Year built
1915
Number of units
4
Building materials
Masonry
Listing Agency:
Mallin Panchelli Nadel Realty Inc
(215) 413-4900
Listed By:
Samantha Lee Miller · License #RS352351
(215) 692-3107
Added: Aug 19
Changed: Aug 26
Last Checked: Aug 29 at 2:06AM
MLS# PAPH2661594
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.
Located at 1829 N 33rd Street in Philadelphia’s Strawberry Mansion neighborhood, this four-story masonry quadplex contains 3,271 SF and was built in 1915. The property is licensed for four residential units, with a mix of two one-bedroom, one-bath units; one two-bedroom, two-bath unit; and one three-bedroom, two-bath unit. Each unit includes a washer and dryer, while climate control is provided by central air or mini-split systems.
A finished basement adds a bedroom, kitchen and living area, and full bathroom without being described as a separate residential unit. The 0.0424-acre property offers on-street parking and includes modern finishes, stainless steel appliances, dishwashers, electric ranges, refrigerators, and built-in microwaves. Fairmount Park and Center City are in close proximity.
A finished basement adds a bedroom, kitchen and living area, and full bathroom without being described as a separate residential unit. The 0.0424-acre property offers on-street parking and includes modern finishes, stainless steel appliances, dishwashers, electric ranges, refrigerators, and built-in microwaves. Fairmount Park and Center City are in close proximity.
Key Highlights
- 3,271 SF four‑story masonry quadplex on a 0.0424‑acre lot
- Licensed for four residential units
- Unit mix includes two 1‑bedroom/1‑bath, one 2‑bedroom/2‑bath, and one 3‑bedroom/2‑bath unit
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
$55,819
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
8.21%
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%
$1,116,380
$1.1M
Cap Rate 7%
$797,414
$797.4K
Cap Rate 9%
$620,211
$620.2K
Market Conditions
NOI Build-Up for 3,271 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
$84.4K $25.80/SF
− Vacancy
−$4.6K −$1.42/SF
EGI
$79.7K $24.38/SF
− OpEx
−$23.9K −$7.31/SF
NOI
$55.8K $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%
$1,116,380
Cap Rate 7%
$797,414
Cap Rate 9%
$620,211
Alternative Uses
Best Use
Multifamily LT 5
$797.4K
$697.7K – $930.3K
NOI $55,819 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$735.0K
$643.1K – $857.5K
NOI $51,451 @ 7.0% cap · market cap 7.57%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
791
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four licensed residential units feature in-unit laundry, central air or mini-splits, and contemporary finishes.
Where is this quadplex located?
The property is located at 1829 N 33RD Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: 3,271 SF four‑story masonry quadplex on a 0.0424‑acre lot; Licensed for four residential units; Unit mix includes two 1‑bedroom/1‑bath, one 2‑bedroom/2‑bath, and one 3‑bedroom/2‑bath unit
