New Construction Triplex with
1840 1840-42 N Gratz St, Philadelphia, PA 19121
For Sale
$899,000
Three-unit investment property with private laundry, updated finishes, and shared outdoor space near Temple University.
Property Size2,937 SF
Price / SF$306.09
Days on Market50
Property Features for 1840 1840-42 N Gratz St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
in-unit laundry
common backyard patio
Building Details
Year Built
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Patrick G Campbell · License #RS286983
(215) 828-6558
Source:
Bethsamberg
Added: Sep 19
Changed: Oct 25
Last Checked: Oct 7 at 3:45PM
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 2,937-square-foot triplex contains three residential units with private in-unit laundry and access to a shared backyard patio. The property includes hardwood flooring, recessed lighting, quartz countertops, and solid wood cabinetry throughout. Unit 1 is arranged over two levels with three bedrooms and two bathrooms, while Units 2 and 3 each offer two bedrooms and one-and-a-half bathrooms.
The property is located at 1840-1842 N Gratz Street in Philadelphia, near Temple University, Geasey Field, The Liacouras Center, and public transportation. Its new-construction design and tax-abated status add practical appeal for an owner seeking a recently built multifamily asset.
The property is located at 1840-1842 N Gratz Street in Philadelphia, near Temple University, Geasey Field, The Liacouras Center, and public transportation. Its new-construction design and tax-abated status add practical appeal for an owner seeking a recently built multifamily asset.
Key Highlights
- Three‑unit triplex completed in 2022
- 2,937 SF property with three residential units
- Unit 1 features 3 bedrooms and 2 bathrooms across two levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,120
Cap Rate
5.58%
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 5.58%
Second Best
Apartment 5plus
$660.0K
$577.5K – $770.0K
NOI $46,198 @ 7.0% cap · market cap 5.14%
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
1,980
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
$250,100
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Philadelphia, PA
Properties on Market for Triplexes in Philadelphia
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit investment property with private laundry, updated finishes, and shared outdoor space near Temple University.
Where is this triplex located?
The property is located at 1840 1840-42 N Gratz St Philadelphia, PA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three‑unit triplex completed in 2022; 2,937 SF property with three residential units; Unit 1 features 3 bedrooms and 2 bathrooms across two levels
