New Construction
For Sale
$799,000
1840-42 N GRATZ STREET, Philadelphia, PA 19121
Three-unit residential property with private laundry, upgraded interiors, and shared outdoor space near Temple University.
Property Size2,937 SF
Days on Market50
Property Features for 1840-42 N GRATZ STREET
General Information
Standard status
Active
Size
2,937 SF
Property subtype
Triplex
Site & Location
Neighborhood
North Philadelphia
Public Transit
Yes
Units
Unit Mix
1 x 3BR/2BA, 2 x 2BR/1.5BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,265
Amenities
in-unit laundry
common backyard patio
hardwood floors
recessed lighting
quartz countertops
solid wood cabinetry
Building Details
Building Size
2,937 SF
Year Built
2022
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Patrick G Campbell · License #RS286983
(215) 828-6558
Source:
Lizclarkrealestate
Added: Sep 16
Changed: Nov 4
Last Checked: Nov 3 at 2:04PM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
Completed in 2022, this three-unit triplex combines a bi-level three-bedroom, two-bath residence with two additional apartments, each offering two bedrooms and one-and-a-half baths. Every unit includes its own laundry area, while residents also have access to a shared backyard patio. Interior specifications include hardwood flooring, recessed lighting, quartz countertops, and solid wood cabinetry. The property also carries tax-abated status.
The building is a short walk from Temple University, Geasey Field, The Liacouras Center, and public transportation. Its unit mix and separate laundry amenities provide a defined residential income configuration within a recently constructed property.
The building is a short walk from Temple University, Geasey Field, The Liacouras Center, and public transportation. Its unit mix and separate laundry amenities provide a defined residential income configuration within a recently constructed property.
Key Highlights
- Three‑unit triplex completed in 2022
- Unit mix includes one bi‑level 3 bed/2 bath and two 2 bed/1.5 bath apartments
- Private in‑unit laundry in every residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,120
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,002,400
$1.0M
Cap Rate 7%
$716,000
$716.0K
Cap Rate 9%
$556,889
$556.9K
Market Conditions
NOI Build-Up for 2,937 SF
Gross rent
$75.8K $25.80/SF
− Vacancy
−$4.2K −$1.42/SF
EGI
$71.6K $24.38/SF
− OpEx
−$21.5K −$7.31/SF
NOI
$50.1K $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%
$1,002,400
Cap Rate 7%
$716,000
Cap Rate 9%
$556,889
Alternative Uses
Best Use
Multifamily LT 5
$716.0K
$626.5K – $835.3K
NOI $50,120 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$660.0K
$577.5K – $770.0K
NOI $46,198 @ 7.0% cap · market cap 5.78%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,980
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
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with private laundry, upgraded interiors, and shared outdoor space near Temple University.
Where is this triplex located?
The property is located at 1840-42 N GRATZ STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Three‑unit triplex completed in 2022; Unit mix includes one bi‑level 3 bed/2 bath and two 2 bed/1.5 bath apartments; Private in‑unit laundry in every residence
