Four-Unit Quadplex with Island
New
For Sale
$999,900
1945 N 7TH STREET, Philadelphia, PA 19122
One residence is vacant, while the other three provide established occupancy flexibility.
Property Size3,945 SF
Price / SF$253.46
Days on Market3
Property Features for 1945 N 7TH STREET
General Information
Standard status
Active
Size
3,945 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/2.5BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Building Details
Year Built
2021
Buildings
1
Listing Agency:
Keller Williams Main Line
(610) 520-0100
Listed By:
Elan Elkaim · License #RS316148
(215) 960-9537
Source:
Cummingsrealtors
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 2:20PM
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 Keller Williams Main Line
Investment Insights
Based on property information with market context.
Completed in 2021, this 3,945-square-foot quadplex contains four residences, each with two bedrooms and 2.5 bathrooms. Interiors include open living areas, recessed lighting, contemporary flooring, and kitchens equipped with quartz counters, center islands, subway tile, stainless steel appliances, and ample cabinets. Central air serves each unit, and the exterior combines brick and panel materials. One residence is vacant, offering a choice of timing for its next occupant.
The property is near Temple University and has access to Broad Street, Girard Avenue, and SEPTA service. Restaurants and shops in the surrounding neighborhood, along with Center City, are also identified as nearby destinations.
The property is near Temple University and has access to Broad Street, Girard Avenue, and SEPTA service. Restaurants and shops in the surrounding neighborhood, along with Center City, are also identified as nearby destinations.
Key Highlights
- Four residences, each with 2 bedrooms and 2.5 bathrooms
- 3,945 square feet; built in 2021
- One of the four residences is vacant
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
$67,321
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
6.73%
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%
$1,346,420
$1.3M
Cap Rate 7%
$961,729
$961.7K
Cap Rate 9%
$748,011
$748.0K
Market Conditions
NOI Build-Up for 3,945 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
$101.8K $25.80/SF
− Vacancy
−$5.6K −$1.42/SF
EGI
$96.2K $24.38/SF
− OpEx
−$28.9K −$7.31/SF
NOI
$67.3K $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%
$1,346,420
Cap Rate 7%
$961,729
Cap Rate 9%
$748,011
Alternative Uses
Best Use
Multifamily LT 5
$961.7K
$841.5K – $1.12M
NOI $67,321 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$886.5K
$775.7K – $1.03M
NOI $62,053 @ 7.0% cap · market cap 6.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - One residence is vacant, while the other three provide established occupancy flexibility.
Where is this quadplex located?
The property is located at 1945 N 7TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Four residences, each with 2 bedrooms and 2.5 bathrooms; 3,945 square feet; built in 2021; One of the four residences is vacant
