Updated Three-Unit
For Sale
$349,000
2122 W ESTAUGH Street, Philadelphia, PA 19140
Multi-Family, PHILADELPHIA, PA
Property Size1,446 SF
Lot Size0.04 Acres
Price / SF$241.36
Days on Market99
Property Features for 2122 W ESTAUGH Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
On Street
Subdivision
ALLEGHENY WEST
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,446 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
1409
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1939
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
OCF Realty LLC - Philadelphia
(215) 735-7368
Listed By:
Kevin M McGettigan · License #RS326539
(856) 347-0434
Added: May 29
Changed: Aug 19
Last Checked: Sep 4 at 11:06AM
MLS# PAPH2627646
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 masonry triplex, built in 1939, contains 1,446 square feet and three legal, updated units: two studios and one one-bedroom, one-bath residence. Central heating and central air serve the building, while on-street parking is available. A finished bonus unit is also present and requires legalization before it can be incorporated into the unit count or operations.
The property is located on W Estaugh Street in Philadelphia’s 19140 ZIP code, near Broad Street and Temple Health. Roosevelt Boulevard, neighborhood retail, public transit, and key bus routes are identified as nearby access and amenity points. The property is offered individually, with the source information also referencing availability as part of a three-property package totaling 14 units.
The property is located on W Estaugh Street in Philadelphia’s 19140 ZIP code, near Broad Street and Temple Health. Roosevelt Boulevard, neighborhood retail, public transit, and key bus routes are identified as nearby access and amenity points. The property is offered individually, with the source information also referencing availability as part of a three-property package totaling 14 units.
Key Highlights
- Three legal, updated units: two studios and one 1 bed/1 bath unit
- Finished bonus unit present; legalization required
- 1,446 square feet on 0.0365 acres
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
$24,676
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
7.07%
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%
$493,520
$493.5K
Cap Rate 7%
$352,514
$352.5K
Cap Rate 9%
$274,178
$274.2K
Market Conditions
NOI Build-Up for 1,446 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
$37.3K $25.80/SF
− Vacancy
−$2.1K −$1.42/SF
EGI
$35.3K $24.38/SF
− OpEx
−$10.6K −$7.31/SF
NOI
$24.7K $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%
$493,520
Cap Rate 7%
$352,514
Cap Rate 9%
$274,178
Alternative Uses
Best Use
Multifamily LT 5
$352.5K
$308.5K – $411.3K
NOI $24,676 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$324.9K
$284.3K – $379.1K
NOI $22,745 @ 7.0% cap · market cap 6.52%
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
1,724
Businesses Nearby
Explore this area
Business Placement
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
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 - Masonry multifamily property with central heating, central air, and an additional finished space requiring legalization.
Where is this triplex located?
The property is located at 2122 W ESTAUGH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Three legal, updated units: two studios and one 1 bed/1 bath unit; Finished bonus unit present; legalization required; 1,446 square feet on 0.0365 acres
