Spacious Triplex in Strawberry
For Sale
$562,000
1841 N 33RD Street, Philadelphia, PA 19121
MULTI_FAMILY - PHILADELPHIA, PA
Property Size2,790 SF
Lot Size0.04 Acres
Price / SF$201.43
Days on Market243
Property Features for 1841 N 33RD Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Subdivision
STRAWBERRY MANSION
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
2,790 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
4174
Utilities
Heating system
Electric (Heating), Baseboard
Cooling system
Wall Unit(s)
Amenities
full basement
Building Details
Year built
1915
Number of units
3
Building materials
Masonry, Brick, Stucco
Listing Agency:
Redfin Corporation
(484) 962-0034
Listed By:
Melissa Rae Theodule
(267) 980-1180
Added: Dec 30, 2025
Changed: Aug 17
Last Checked: Aug 30 at 6:06AM
MLS# PAPH2569160
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 in the Strawberry Mansion area of Philadelphia, this multi-family rowhome features two 3-bedroom, 2-bath units and one 2-bedroom, 2-bath unit. The property offers 2,790 square feet of living space on a lot of 0.0424 acres. A full basement provides storage space. Ample street parking is available. Mortgage savings may be available for buyers of this listing.
Key Highlights
- Triplex rowhome built in 1915 in Philadelphia’s Strawberry Mansion area
- Unit mix includes two 3‑bedroom/2‑bath units and one 2‑bedroom/2‑bath unit
- Full basement with space for storage
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
$47,611
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
8.47%
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%
$952,220
$952.2K
Cap Rate 7%
$680,157
$680.2K
Cap Rate 9%
$529,011
$529.0K
Market Conditions
NOI Build-Up for 2,790 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
$72.0K $25.80/SF
− Vacancy
−$4.0K −$1.42/SF
EGI
$68.0K $24.38/SF
− OpEx
−$20.4K −$7.31/SF
NOI
$47.6K $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%
$952,220
Cap Rate 7%
$680,157
Cap Rate 9%
$529,011
Alternative Uses
Best Use
Multifamily LT 5
$680.2K
$595.1K – $793.5K
NOI $47,611 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$626.9K
$548.6K – $731.4K
NOI $43,885 @ 7.0% cap · market cap 7.81%
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Triplex in Philadelphia's Strawberry Mansion neighborhood with mortgage savings.
Where is this triplex located?
The property is located at 1841 N 33RD Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $562,000.
What are key features of this property?
This property features: Triplex rowhome built in 1915 in Philadelphia’s Strawberry Mansion area; Unit mix includes two 3‑bedroom/2‑bath units and one 2‑bedroom/2‑bath unit; Full basement with space for storage
