Three-Unit Multifamily
For Sale
$519,000
210 LOCKART Lane, Philadelphia, PA 19116
Multi-Family, PHILADELPHIA, PA
Property Size1,844 SF
Lot Size0.07 Acres
Price / SF$281.45
Days on Market12
Property Features for 210 LOCKART Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Appliances
Dryer, Washer, Refrigerator
Subdivision
PHILMONT HEIGHTS
Elementary school
LOESCHE WILLIAM
Middle school
BALDI CCA
High school
GEORGE WASHINGTON
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,844 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6581
Utilities
Heating system
Central
Cooling system
Wall Unit(s)
Amenities
fenced backyard
Building Details
Year built
1969
Number of units
2
Building materials
Brick Veneer
Listing Agency:
Houwzer, LLC
(267) 765-2080
Listed By:
Patricia M Gesswein · License #RS067440
(267) 765-2080
Added: Aug 14
Changed: Aug 24
Last Checked: Aug 25 at 9:06AM
MLS# PAPH2656840
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 three-unit multifamily property contains 1,844 square feet on a 0.0689-acre lot. The ground-level residence is a studio with a full bathroom and kitchen, while the upper levels each provide two bedrooms and one bathroom. A two-car garage, fenced backyard, and basement add functional space to the property. Construction is brick veneer, with central heating and wall-unit cooling. The property was built in 1969 and includes a washer, dryer, and refrigerator.
All three units are occupied under month-to-month leases. The property is located in Philadelphia near shopping, restaurants, public transportation, major highways, schools, and neighborhood parks. Its configuration combines multiple residential layouts with on-site garage and outdoor amenities.
All three units are occupied under month-to-month leases. The property is located in Philadelphia near shopping, restaurants, public transportation, major highways, schools, and neighborhood parks. Its configuration combines multiple residential layouts with on-site garage and outdoor amenities.
Key Highlights
- Three residential units: one studio and two 2‑bedroom, 1‑bathroom units
- 1,844 square feet on a 0.0689‑acre lot
- Two‑car garage and fenced backyard
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
$31,468
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
6.06%
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%
$629,360
$629.4K
Cap Rate 7%
$449,543
$449.5K
Cap Rate 9%
$349,644
$349.6K
Market Conditions
NOI Build-Up for 1,844 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
$47.6K $25.80/SF
− Vacancy
−$2.6K −$1.42/SF
EGI
$45.0K $24.38/SF
− OpEx
−$13.5K −$7.31/SF
NOI
$31.5K $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%
$629,360
Cap Rate 7%
$449,543
Cap Rate 9%
$349,644
Alternative Uses
Best Use
Multifamily LT 5
$449.5K
$393.4K – $524.5K
NOI $31,468 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$414.4K
$362.6K – $483.4K
NOI $29,005 @ 7.0% cap · market cap 5.59%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
721
Businesses Nearby
Explore this area
Business Placement
Demographics for 19116, PA
35,610
Population
14,166
Households
2.5
Avg Household Size
43
Median Age
36%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
6,848
Density / Sq Mi
$67,558
Median Household Income
$43,817
Median Earnings
$1,214
Median Rent
$321,400
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 - Brick veneer construction, month-to-month leases, and a two-car garage support a practical residential income configuration.
Where is this triplex located?
The property is located at 210 LOCKART Lane Philadelphia, PA.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Three residential units: one studio and two 2‑bedroom, 1‑bathroom units; 1,844 square feet on a 0.0689‑acre lot; Two‑car garage and fenced backyard
