Tenant-Occupied
For Sale
Under Contract
$215,000
1979 73RD Avenue, Philadelphia, PA 19138
Multi-Family, PHILADELPHIA, PA
Property Size1,092 SF
Lot Size0.02 Acres
Price / SF$196.89
Days on Market829
Property Features for 1979 73RD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
Alley, On Street
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Special listing conditions
Short Sale
Standard status
Active Under Contract
Size
1,092 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
1482
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1946
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Century 21 Advantage Gold-Elkins Park · Century 21 Real Estate
(215) 887-4653
Listed By:
Bruce A Randolph · License #RS315898
(215) 779-6516
Added: Jun 3, 2024
Changed: Sep 1
Last Checked: Sep 9 at 12:06AM
MLS# PAPH2361716
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex is a 1,092-square-foot masonry residence with occupied units on the first and second floors. The property includes basement space, forced-air heating, window-unit cooling, and parking access from the street and alley. It is being offered in its present condition, with the seller not undertaking repairs.
Located at 1979 73rd Avenue in Philadelphia, the property sits on a 0.0241-acre parcel in ZIP Code 19138. Both residential units are occupied, including a first-floor tenancy supported by a Section 8 lease. Showings are available by appointment with 24-hour notice, and the buyer’s agent must accompany the buyer.
Located at 1979 73rd Avenue in Philadelphia, the property sits on a 0.0241-acre parcel in ZIP Code 19138. Both residential units are occupied, including a first-floor tenancy supported by a Section 8 lease. Showings are available by appointment with 24-hour notice, and the buyer’s agent must accompany the buyer.
Key Highlights
- 1,092‑square‑foot duplex at 1979 73rd Avenue, Philadelphia, PA 19138
- Two occupied residential units on the first and second floors
- Masonry construction with forced‑air heating and window‑unit cooling
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level masonry residence with basement space, forced-air heat, window-unit cooling, and on-street or alley parking.
Where is this duplex located?
The property is located at 1979 73RD Avenue 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 at 1979 73rd Avenue, Philadelphia, PA 19138; Two occupied residential units on the first and second floors; Masonry construction with forced‑air heating and window‑unit cooling
