Renovated Triplex with In-Unit
For Sale
$689,000
1934 North 7th Street, Philadelphia, PA 19122
Three leased units offer updated interiors, central heating and cooling, and shared access to a backyard and rear patio.
Property Size3,888 SF
Price / SF$177.21
Days on Market196
Property Features for 1934 North 7th Street
General Information
Standard status
Active
Size
3,888 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA, 1 x 4BR/2BA
Multifamily Units
3
Additional Details
Gross Income
$54,420
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,390
Amenities
central AC and heat
in-unit washer/dryer
backyard
No
Dishwasher, Washer, Dryer, Refrigerator, Stove
Combination Dining/Living, Combination Kitchen/Dining, Combination Kitchen/Living, Intercom
No Pool
Above Grade, Below Grade
Fire Escape
Porch(es)
Building Details
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Plus
(484) 868-9234
Listed By:
Toma Holovatskyy
(484) 868-9234
Source:
Compass
Added: Feb 15
Changed: Aug 29
Last Checked: Aug 29 at 5:21PM
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 Plus
Investment Insights
Based on property information with market context.
This Philadelphia triplex contains 3,888 square feet and was built in 1915 before undergoing a full renovation. The property includes three leased units with a combined 10 bedrooms and 6 bathrooms. Unit layouts consist of two 3-bedroom, 2-bathroom apartments and one 4-bedroom, 2-bathroom apartment. Interior features include kitchens with substantial counter space, oversized sinks, dishwashers, refrigerators, stoves, central AC and heat, and in-unit washers and dryers. Tall ceilings, natural light, combination living and dining areas, and intercom systems further define the residences.
A rear staircase provides fire egress and access to a shared backyard and patio area. The property is within walking distance of Temple University and a regional rail station, with Fishtown restaurants and nightlife described as a short drive away. RM1 zoning applies, and the property is located at 1934 North 7th Street in Philadelphia’s 19122 area.
A rear staircase provides fire egress and access to a shared backyard and patio area. The property is within walking distance of Temple University and a regional rail station, with Fishtown restaurants and nightlife described as a short drive away. RM1 zoning applies, and the property is located at 1934 North 7th Street in Philadelphia’s 19122 area.
Key Highlights
- Fully renovated 3,888‑square‑foot triplex
- Three leased units totaling 10 bedrooms and 6 bathrooms
- Unit mix includes two 3‑bedroom/2‑bath units and one 4‑bedroom/2‑bath unit
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
$61,156
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
8.88%
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%
$1,223,120
$1.2M
Cap Rate 7%
$873,657
$873.7K
Cap Rate 9%
$679,511
$679.5K
Market Conditions
NOI Build-Up for 3,888 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
$118.0K $30.36/SF
− Vacancy
−$6.8K −$1.76/SF
EGI
$111.2K $28.60/SF
− OpEx
−$50.0K −$12.87/SF
NOI
$61.2K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,223,120
Cap Rate 7%
$873,657
Cap Rate 9%
$679,511
Alternative Uses
Best Use
Multifamily LT 5
$947.8K
$829.4K – $1.11M
NOI $66,348 @ 7.0% cap · market cap 9.63%
Second Best
Apartment 5plus
$873.7K
$764.5K – $1.02M
NOI $61,156 @ 7.0% cap · market cap 8.88%
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
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,160
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
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?
Triplex - Three leased units offer updated interiors, central heating and cooling, and shared access to a backyard and rear patio.
Where is this triplex located?
The property is located at 1934 North 7th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: Fully renovated 3,888‑square‑foot triplex; Three leased units totaling 10 bedrooms and 6 bathrooms; Unit mix includes two 3‑bedroom/2‑bath units and one 4‑bedroom/2‑bath unit
