Renovated Legal Triplex
2302 North 15th Street Philadelphia, PA 19132
2302 North 15th Street, Philadelphia, PA, 19132
$625,000
Pending
For Sale
$625,000
Pending
Turnkey legal triplex with three renovated units, separate utilities, and two current monthly rent streams.
Property Size2,655 SF
Days on Market94
Property Features for 2302 North 15th Street
General Information
- Standard status
- Pending
- Size
- 2,655 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1915
Listing agency
Luxe Real Estate LLC
(215) 251-7519
Listed by
Michelle Phillips · License #RM425239
(215) 251-7519
Source
Compass
Added: Apr 21 Updated: Jul 22 at 10:20PM Checked: Jul 22 at 10:20PM
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 Luxe Real Estate LLC
Investment Insights
Based on property information with market context.
Turnkey, legal triplex presented as a fully renovated 3-story row home configured with three separate units. Each unit offers 3 bedrooms and 1 full bathroom. Interior improvements include brand-new kitchens with white shaker cabinetry, a tile backsplash, updated appliances, fully tiled tub/shower combinations, updated flooring, recessed lighting, and ample closet space.
Two units are currently occupied, generating $1,200 and $1,300 per month, while the third unit is vacant. Separate utilities are provided for each unit, supporting straightforward property management.
The property is located in the Temple University area, described as just steps from Temple University. Additional context in the remarks notes it is within walking distance to shopping, restaurants, Broad Street, and multiple public transportation options.
Two units are currently occupied, generating $1,200 and $1,300 per month, while the third unit is vacant. Separate utilities are provided for each unit, supporting straightforward property management.
The property is located in the Temple University area, described as just steps from Temple University. Additional context in the remarks notes it is within walking distance to shopping, restaurants, Broad Street, and multiple public transportation options.
Key Highlights
- Legal triplex row home built in 1915 with 3 floors and three units
- Each unit features 3 bedrooms and 1 full bathroom
- Renovations include new eat‑in kitchens with white shaker cabinetry, tile backsplash, updated appliances, and recessed lighting
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.5k | $25.80 |
| − Vacancy | −$3.8k | −$1.42 |
| EGI | $64.7k | $24.38 |
| − OpEx | −$19.4k | −$7.31 |
| NOI | $45.3k | $17.06 |
2,655 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$647.2K
$566.3K – $755.1K
NOI $45,307 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$596.6K
$522.0K – $696.0K
NOI $41,762 @ 7.0% cap · market cap 6.68%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Turnkey legal triplex with three renovated units, separate utilities, and two current monthly rent streams.
Where is this triplex located?
The property is located at 2302 North 15th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Legal triplex row home built in 1915 with 3 floors and three units; Each unit features 3 bedrooms and 1 full bathroom; Renovations include new eat‑in kitchens with white shaker cabinetry, tile backsplash, updated appliances, and recessed lighting
