Tenant-Occupied
For Sale
$215,000
Pending
1979 73RD AVE, Philadelphia, PA 19138
Two occupied units are offered in as-is condition with no seller repairs planned.
Property Size1,092 SF
Days on Market23
Property Features for 1979 73RD AVE
General Information
Standard status
Pending
Size
1,092 SF
Property subtype
Multi-family
Additional Details
Gross Income
$25,200
Multifamily Units
2
Listing Agency:
Century 21 Advantage Gold-Elkins Park
(215) 887-4653
Listed By:
Bruce A Randolph · License #RS315898
(215) 779-6516
Source:
Cathyshometeam
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 25 at 9:44AM
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 Century 21 Advantage Gold-Elkins Park
Investment Insights
Based on property information with market context.
This 1,092-square-foot duplex contains one unit on the first floor and another on the second floor. Both units are currently occupied, providing an existing two-unit residential configuration. The first-floor tenancy includes a Section 8 lease, while the second-floor unit is also leased.
The property is being conveyed in its present condition, with the seller not undertaking repairs. Showings require an appointment with 24 hours’ notice, and the buyer’s agent must be present during the visit.
The property is being conveyed in its present condition, with the seller not undertaking repairs. Showings require an appointment with 24 hours’ notice, and the buyer’s agent must be present during the visit.
Key Highlights
- 1,092‑square‑foot duplex with first- and second‑floor units
- Both residential units are tenant occupied
- First‑floor unit has a Section 8 lease
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
$18,635
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
8.67%
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%
$372,700
$372.7K
Cap Rate 7%
$266,214
$266.2K
Cap Rate 9%
$207,056
$207.1K
Market Conditions
NOI Build-Up for 1,092 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
$28.2K $25.80/SF
− Vacancy
−$1.6K −$1.42/SF
EGI
$26.6K $24.38/SF
− OpEx
−$8.0K −$7.31/SF
NOI
$18.6K $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%
$372,700
Cap Rate 7%
$266,214
Cap Rate 9%
$207,056
Alternative Uses
Best Use
Multifamily LT 5
$266.2K
$232.9K – $310.6K
NOI $18,635 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$245.4K
$214.7K – $286.3K
NOI $17,177 @ 7.0% cap · market cap 7.99%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 19138, PA
31,816
Population
13,836
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
89%
High-School Grad
1.8 sq mi
ZIP Area
17,676
Density / Sq Mi
$51,586
Median Household Income
$36,956
Median Earnings
$1,172
Median Rent
$167,300
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?
Duplex - Two occupied units are offered in as-is condition with no seller repairs planned.
Where is this duplex located?
The property is located at 1979 73RD AVE Philadelphia, PA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 1,092‑square‑foot duplex with first- and second‑floor units; Both residential units are tenant occupied; First‑floor unit has a Section 8 lease
