Legal Triplex with Rear Yard
For Sale
$649,900
2022 OGDEN STREET, Philadelphia, PA 19130
Three-unit residential income property with varied layouts and staggered lease terms.
Property Size1,680 SF
Days on Market400
Property Features for 2022 OGDEN STREET
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Triplex
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA, 1 x efficiency/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,512
Building Details
Building Size
1,680 SF
Year Built
1920
Stories
3
Tenancy
Multi
Listing Agency:
RE/MAX Access
(215) 400-2617
Listed By:
Steven Osiecki · License #RM420757
(215) 400-2617
Source:
Patmckennarealtors
Added: Jul 28, 2025
Changed: Aug 28
Last Checked: Aug 30 at 9:25PM
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 Access
Investment Insights
Based on property information with market context.
This legal three-unit property includes a first-floor two-bedroom, two-bath residence with bi-level configuration and access to the rear yard. The second-floor apartment offers one bedroom and one bath, while the top-floor efficiency includes one bath. The unit mix provides distinct layouts within a single multifamily asset.
Lease terms vary by unit: the first-floor lease ends 10/26, the second-floor lease expires 2/26, and the efficiency is occupied month to month. The property is near Center City, Eastern State Penitentiary, shopping, and Fairmount Park.
Lease terms vary by unit: the first-floor lease ends 10/26, the second-floor lease expires 2/26, and the efficiency is occupied month to month. The property is near Center City, Eastern State Penitentiary, shopping, and Fairmount Park.
Key Highlights
- Legal three‑unit multifamily property
- First‑floor two‑bedroom, two‑bath bi‑level unit with rear yard access
- Second‑floor apartment with 1 bedroom and 1 bath
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
$28,669
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
4.41%
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%
$573,380
$573.4K
Cap Rate 7%
$409,557
$409.6K
Cap Rate 9%
$318,544
$318.5K
Market Conditions
NOI Build-Up for 1,680 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
$43.3K $25.80/SF
− Vacancy
−$2.4K −$1.42/SF
EGI
$41.0K $24.38/SF
− OpEx
−$12.3K −$7.31/SF
NOI
$28.7K $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%
$573,380
Cap Rate 7%
$409,557
Cap Rate 9%
$318,544
Alternative Uses
Best Use
Multifamily LT 5
$409.6K
$358.4K – $477.8K
NOI $28,669 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$377.5K
$330.3K – $440.4K
NOI $26,426 @ 7.0% cap · market cap 4.07%
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,806
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
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-unit residential income property with varied layouts and staggered lease terms.
Where is this triplex located?
The property is located at 2022 OGDEN STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Legal three‑unit multifamily property; First‑floor two‑bedroom, two‑bath bi‑level unit with rear yard access; Second‑floor apartment with 1 bedroom and 1 bath
