Renovated Triplex with
For Sale
$750,000
2017 Catharine Street, Philadelphia, PA 19146
Three one-bedroom units each include a private outdoor balcony.
Property Size2,124 SF
Price / SF$353.11
Days on Market323
Property Features for 2017 Catharine Street
General Information
Standard status
Active
Size
2,124 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,723
Amenities
private outdoor balcony spaces
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1925
Buildings
1
Listing Agency:
OCF Realty LLC
(267) 222-0910
Listed By:
Joe Sutow · License #RS336870
(267) 222-0910
Source:
Compass
Added: Oct 13, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:32PM
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 OCF Realty LLC
Investment Insights
Based on property information with market context.
This 2,124-square-foot triplex contains three one-bedroom, one-bathroom residences, each with a private outdoor balcony. The second-floor apartment has been fully renovated and is rent-ready, while the first-floor unit has minor updates and is positioned for a future renovation. The third-floor residence is partially renovated and may be delivered vacant or occupied. The first- and second-floor units are leased through mid-2026.
Built in 1925, the property has updated major systems and structural components. The roof was replaced within the last 7 years and resurfaced last year. All HVAC systems were installed within the past few years and receive service every 6 months. The property is zoned RSA5 and sits on Catharine Street in Philadelphia’s Graduate Hospital area, near restaurants, cafés, parks, and Center City access.
Built in 1925, the property has updated major systems and structural components. The roof was replaced within the last 7 years and resurfaced last year. All HVAC systems were installed within the past few years and receive service every 6 months. The property is zoned RSA5 and sits on Catharine Street in Philadelphia’s Graduate Hospital area, near restaurants, cafés, parks, and Center City access.
Key Highlights
- Three one‑bedroom, one‑bathroom units with private outdoor balconies
- 2,124‑square‑foot triplex built in 1925
- Second‑floor unit fully renovated and rent‑ready
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
$36,246
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
4.83%
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%
$724,920
$724.9K
Cap Rate 7%
$517,800
$517.8K
Cap Rate 9%
$402,733
$402.7K
Market Conditions
NOI Build-Up for 2,124 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
$54.8K $25.80/SF
− Vacancy
−$3.0K −$1.42/SF
EGI
$51.8K $24.38/SF
− OpEx
−$15.5K −$7.31/SF
NOI
$36.2K $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%
$724,920
Cap Rate 7%
$517,800
Cap Rate 9%
$402,733
Alternative Uses
Best Use
Multifamily LT 5
$517.8K
$453.1K – $604.1K
NOI $36,246 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$477.3K
$417.6K – $556.8K
NOI $33,409 @ 7.0% cap · market cap 4.45%
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
Location Intelligence
Trade Area within ½ mile
9,415
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
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 one-bedroom units each include a private outdoor balcony.
Where is this triplex located?
The property is located at 2017 Catharine Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three one‑bedroom, one‑bathroom units with private outdoor balconies; 2,124‑square‑foot triplex built in 1925; Second‑floor unit fully renovated and rent‑ready
