Three-Unit Multifamily
For Sale
$650,000
222 Buckingham Pl, Philadelphia, PA 19104
Three-unit multifamily property built in 1915, zoned RSA3 in Philadelphia for residential income use.
Property Size1,890 SF
Price / SF$343.92
Days on Market52
Property Features for 222 Buckingham Pl
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Multifamily
Zoning
RSA3
Additional Details
Multifamily Units
3
Building Details
Year Built
1915
Listing Agency:
MPN Realty, Inc.
(267) 546-1718
Listed By:
Nadia Bilynsky · License #RS311101
Source:
Mpnrealty
Added: Jun 24
Changed: Jul 10
Last Checked: Aug 14 at 5:11AM
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 MPN Realty, Inc.
Investment Insights
Based on property information with market context.
222 Buckingham Pl is a three-unit multifamily building totaling 1,890 SF, constructed in 1915. The property is configured as three separate units within a single building, offering a straightforward residential income setup for an owner-operator or investor.
The building is located in Philadelphia and is zoned RSA3. The RSA3 zoning designation may be relevant for planning a variety of residential uses consistent with local regulations, making the property of interest to buyers focused on long-term holding and potential future strategy.
For tenants seeking a multi-unit arrangement and for investors evaluating residential income assets, this property provides a compact, manageable scale with three units in place. With its established building and existing unit configuration, the site is positioned as a candidate for buyers who want a small multifamily offering in Philadelphia under the RSA3 zoning category.
The building is located in Philadelphia and is zoned RSA3. The RSA3 zoning designation may be relevant for planning a variety of residential uses consistent with local regulations, making the property of interest to buyers focused on long-term holding and potential future strategy.
For tenants seeking a multi-unit arrangement and for investors evaluating residential income assets, this property provides a compact, manageable scale with three units in place. With its established building and existing unit configuration, the site is positioned as a candidate for buyers who want a small multifamily offering in Philadelphia under the RSA3 zoning category.
Key Highlights
- 3‑unit multifamily property in Philadelphia
- Building size: 1,890 SF
- Built in 1915
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
$32,253
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
4.96%
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%
$645,060
$645.1K
Cap Rate 7%
$460,757
$460.8K
Cap Rate 9%
$358,367
$358.4K
Market Conditions
NOI Build-Up for 1,890 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
$48.8K $25.80/SF
− Vacancy
−$2.7K −$1.42/SF
EGI
$46.1K $24.38/SF
− OpEx
−$13.8K −$7.31/SF
NOI
$32.3K $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%
$645,060
Cap Rate 7%
$460,757
Cap Rate 9%
$358,367
Alternative Uses
Best Use
Multifamily LT 5
$460.8K
$403.2K – $537.6K
NOI $32,253 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$424.7K
$371.6K – $495.5K
NOI $29,729 @ 7.0% cap · market cap 4.57%
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
2,527
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit multifamily property built in 1915, zoned RSA3 in Philadelphia for residential income use.
Where is this triplex located?
The property is located at 222 Buckingham Pl Philadelphia, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3‑unit multifamily property in Philadelphia; Building size: 1,890 SF; Built in 1915
