Updated 3-Unit Apartment
New
For Sale
$750,000
2039 N 8TH STREET, Philadelphia, PA 19122
Seven bedrooms, in-unit laundry, and contemporary interior finishes support the property's residential configuration.
Property Size2,870 SF
Price / SF$261.32
Days on Market5
Property Features for 2039 N 8TH STREET
General Information
Standard status
Active
Size
2,870 SF
Property subtype
Triplex
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,712
Amenities
hardwood flooring
recessed lighting
updated kitchens
stainless steel appliances
tiled bathrooms
in-unit laundry
Building Details
Building Size
2,870 SF
Year Built
2020
Buildings
1
Tenancy
Multi
Listing Agency:
KW Empower
Listed By:
Asa Kurland · License #RS349157
(267) 388-1114
Source:
Patmckennarealtors
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 1 at 4:13PM
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 KW Empower
Investment Insights
Based on property information with market context.
Built in 2020, this three-unit property contains approximately 2870 square feet and seven bedrooms. Interior features include hardwood floors, recessed lighting, stainless steel kitchen appliances, tiled bathrooms, and laundry within the units. The property is fully occupied.
Public transportation provides connections across North Philadelphia and to Center City. Temple University, Hartranft Park, neighborhood retail, and dining are nearby.
Public transportation provides connections across North Philadelphia and to Center City. Temple University, Hartranft Park, neighborhood retail, and dining are nearby.
Key Highlights
- Fully occupied triplex with 7 total bedrooms
- Approximately 2870 square feet
- Built in 2020
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
$48,976
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
6.53%
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%
$979,520
$979.5K
Cap Rate 7%
$699,657
$699.7K
Cap Rate 9%
$544,178
$544.2K
Market Conditions
NOI Build-Up for 2,870 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
$74.0K $25.80/SF
− Vacancy
−$4.1K −$1.42/SF
EGI
$70.0K $24.38/SF
− OpEx
−$21.0K −$7.31/SF
NOI
$49.0K $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%
$979,520
Cap Rate 7%
$699,657
Cap Rate 9%
$544,178
Alternative Uses
Best Use
Multifamily LT 5
$699.7K
$612.2K – $816.3K
NOI $48,976 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$644.9K
$564.3K – $752.4K
NOI $45,144 @ 7.0% cap · market cap 6.02%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,160
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Seven bedrooms, in-unit laundry, and contemporary interior finishes support the property's residential configuration.
Where is this triplex located?
The property is located at 2039 N 8TH 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: Fully occupied triplex with 7 total bedrooms; Approximately 2870 square feet; Built in 2020
