Renovated Triplex with Owner's
For Sale
$460,750
2025 N 4TH STREET, Philadelphia, PA 19122
Three vacant residences combine updated interiors with flexible layouts for investors or owner-occupants.
Property Size1,592 SF
Days on Market51
Property Features for 2025 N 4TH STREET
General Information
Standard status
Active
Size
1,592 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$6,597
Building Details
Building Size
1,592 SF
Year Built
1920
Listing Agency:
BHHS Fox & Roach The Harper at Rittenhouse Square
Listed By:
Travis D Rodgers · License #RS277583
(215) 901-2154
Source:
Patmckennarealtors
Added: Aug 1
Changed: Sep 12
Last Checked: Sep 20 at 9:45AM
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 BHHS Fox & Roach The Harper at Rittenhouse Square
Investment Insights
Based on property information with market context.
This three-unit multifamily property was gutted to the studs and rebuilt with extensive system improvements. The first-floor residence includes one bedroom, private patio access, and a full basement for storage. An efficiency studio occupies the second floor, while the upper two levels form a bi-level one-bedroom residence with two full bathrooms. Across the building, interiors feature hardwood flooring, updated kitchen cabinetry, efficient appliances, ceramic tile bathroom floors, contemporary vanities, and stall showers.
Major upgrades include a new roof, electrical system, drywall, water heaters, appliances, sprinkler system, fire alarm system, and recessed lighting. All utilities are electric, and the units are currently vacant. The property is in Philadelphia's Norris Square area, near Norris Square Park, with access to dining, shopping, and entertainment in Fishtown and Northern Liberties, as well as Temple University and Cousin's Supermarket.
Major upgrades include a new roof, electrical system, drywall, water heaters, appliances, sprinkler system, fire alarm system, and recessed lighting. All utilities are electric, and the units are currently vacant. The property is in Philadelphia's Norris Square area, near Norris Square Park, with access to dining, shopping, and entertainment in Fishtown and Northern Liberties, as well as Temple University and Cousin's Supermarket.
Key Highlights
- Three‑unit triplex with all residences currently vacant
- Gutted to the studs and rebuilt with major system upgrades
- Unit mix includes one‑bedroom, efficiency studio, and bi‑level one‑bedroom residences
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
$27,167
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
5.90%
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%
$543,340
$543.3K
Cap Rate 7%
$388,100
$388.1K
Cap Rate 9%
$301,856
$301.9K
Market Conditions
NOI Build-Up for 1,592 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
$41.1K $25.80/SF
− Vacancy
−$2.3K −$1.42/SF
EGI
$38.8K $24.38/SF
− OpEx
−$11.6K −$7.31/SF
NOI
$27.2K $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%
$543,340
Cap Rate 7%
$388,100
Cap Rate 9%
$301,856
Alternative Uses
Best Use
Multifamily LT 5
$388.1K
$339.6K – $452.8K
NOI $27,167 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$357.7K
$313.0K – $417.4K
NOI $25,041 @ 7.0% cap · market cap 5.43%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,112
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?
Triplex - Three vacant residences combine updated interiors with flexible layouts for investors or owner-occupants.
Where is this triplex located?
The property is located at 2025 N 4TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $460,750.
What are key features of this property?
This property features: Three‑unit triplex with all residences currently vacant; Gutted to the studs and rebuilt with major system upgrades; Unit mix includes one‑bedroom, efficiency studio, and bi‑level one‑bedroom residences
