Four-Unit Property With
For Sale
$630,000
1907-09 FULLER ST, Philadelphia, PA 19152
Attached garage parking accompanies each one-bedroom residence in this Philadelphia multifamily property.
Property Size2,574 SF
Price / SF$244.76
Days on Market48
Property Features for 1907-09 FULLER ST
General Information
Standard status
Active
Size
2,574 SF
Total Parking Spaces
4
Property subtype
Multi-family
Units
Unit Mix
4 x 1BR
Multifamily Units
4
Listing Agency:
Joseph F X Fasy Realtors
(215) 745-8500
Listed By:
Joseph F.X. Fasy Jr · License #RB-0031314
(215) 290-6264
Source:
Keygroupmd
Added: Jul 18
Changed: Sep 2
Last Checked: Sep 2 at 2:08AM
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 Joseph F X Fasy Realtors
Investment Insights
Based on property information with market context.
This 2,574-square-foot quadplex contains four one-bedroom residences, each paired with an attached garage. Two units have undergone full renovations and are ready for occupancy, while the other two are occupied under month-to-month leases.
The property is located at 1907-09 Fuller St in Philadelphia, Pennsylvania 19152. Its combination of four residential units, dedicated garage space, renovated apartments, and flexible lease status provides a clear physical and operational profile for multifamily ownership.
The property is located at 1907-09 Fuller St in Philadelphia, Pennsylvania 19152. Its combination of four residential units, dedicated garage space, renovated apartments, and flexible lease status provides a clear physical and operational profile for multifamily ownership.
Key Highlights
- Four one‑bedroom units totaling 2,574 square feet
- Four attached garages, one serving each unit
- Two units fully renovated and ready for occupancy
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
$43,925
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
6.97%
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%
$878,500
$878.5K
Cap Rate 7%
$627,500
$627.5K
Cap Rate 9%
$488,056
$488.1K
Market Conditions
NOI Build-Up for 2,574 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
$66.4K $25.80/SF
− Vacancy
−$3.7K −$1.42/SF
EGI
$62.8K $24.38/SF
− OpEx
−$18.8K −$7.31/SF
NOI
$43.9K $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%
$878,500
Cap Rate 7%
$627,500
Cap Rate 9%
$488,056
Alternative Uses
Best Use
Multifamily LT 5
$627.5K
$549.1K – $732.1K
NOI $43,925 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$578.4K
$506.1K – $674.8K
NOI $40,488 @ 7.0% cap · market cap 6.43%
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
1,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 19152, PA
35,911
Population
13,715
Households
2.6
Avg Household Size
41
Median Age
28%
College-Educated
88%
High-School Grad
2.9 sq mi
ZIP Area
12,383
Density / Sq Mi
$57,966
Median Household Income
$40,428
Median Earnings
$1,236
Median Rent
$270,000
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 - Attached garage parking accompanies each one-bedroom residence in this Philadelphia multifamily property.
Where is this quadplex located?
The property is located at 1907-09 FULLER ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Four one‑bedroom units totaling 2,574 square feet; Four attached garages, one serving each unit; Two units fully renovated and ready for occupancy
