Renovated Triplex Income
1908 North 7th Street Philadelphia, PA 19122
For Sale
$645,000
Renovated triplex with three 2-bedroom, 2-bath units, each updated brand new throughout.
Property Size2,503 SF
Price / SF$257.69
Days on Market157
Property Features for 1908 North 7th Street
General Information
- Standard status
- Active
- Size
- 2,503 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1915
Listing Agency:
RE/MAX Access
(215) 817-7602
Listed By:
Edward P Diehl · License #AB069544
(215) 817-7602
Source:
Compass
Added: Feb 16
Changed: Jul 21
Last Checked: Jul 22 at 10:49AM
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 RE/MAX Access
Investment Insights
Based on property information with market context.
This renovated triplex features three separate units, each offering 2 bedrooms and 2 bathrooms. The property was redone approximately two years ago, with all areas described as brand new throughout.
The triplex is located in Philadelphia, Pennsylvania, within the Philadelphia City School District.
As configured, the building provides a straightforward three-unit layout designed for residential income, with the unit mix remaining consistent across all three apartments.
The triplex is located in Philadelphia, Pennsylvania, within the Philadelphia City School District.
As configured, the building provides a straightforward three-unit layout designed for residential income, with the unit mix remaining consistent across all three apartments.
Key Highlights
- Renovated triplex built in 1915 with three 2‑bedroom, 2‑bath units
- Each unit updated brand new throughout (property redone 2 years ago)
- $6,000 per month rental income reported for the triplex
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.6k | $25.80 |
| − Vacancy | −$3.6k | −$1.42 |
| EGI | $61.0k | $24.38 |
| − OpEx | −$18.3k | −$7.31 |
| NOI | $42.7k | $17.06 |
2,503 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$610.2K
$533.9K – $711.9K
NOI $42,713 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$562.4K
$492.1K – $656.2K
NOI $39,371 @ 7.0% cap · market cap 6.10%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Renovated triplex with three 2-bedroom, 2-bath units, each updated brand new throughout.
Where is this triplex located?
The property is located at 1908 North 7th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Renovated triplex built in 1915 with three 2‑bedroom, 2‑bath units; Each unit updated brand new throughout (property redone 2 years ago); $6,000 per month rental income reported for the triplex
