Historic Triplex
New
For Sale
$2,490,000
234 S 3rd Street, Philadelphia, PA 19106
Four residential levels combine preserved period details with an elevator, a walled garden, and an upper terrace.
Property Size6,700 SF
Price / SF$371.64
Days on Market5
Property Features for 234 S 3rd Street
General Information
Standard status
Active
Size
6,700 SF
Elevators
Yes
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
3
Amenities
working fireplaces
walled rear garden
upper terrace
multi-story atrium
Building Details
Year Built
1843
Buildings
1
Stories
4
Construction
townhouse
Listing Agency:
KW Empower
Listed By:
Antonio Atacan · License #AB065819
(215) 592-9522
Source:
Deepcreeklake
Added: Oct 17
Changed: Oct 21
Last Checked: Oct 20 at 9:24PM
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
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Investment Insights
Based on property information with market context.
Configured as a triplex, this historic townhouse spans four stories with an attic and semi-finished basement. The layout includes six bedrooms, four full bathrooms, and one half bath. A residential elevator serves the primary floors, while a multi-level atrium and circular openings bring natural light into the interior. Preserved details include marble facing, woodwork, interior shutters, wood floors, exposed beams, and four working fireplaces; ceilings reach 13 feet in height.
Outdoor space includes a walled rear garden and an upper terrace. The property is at 234 S 3rd Street in Philadelphia’s Society Hill, near Independence National Historical Park and the Delaware River waterfront.
Outdoor space includes a walled rear garden and an upper terrace. The property is at 234 S 3rd Street in Philadelphia’s Society Hill, near Independence National Historical Park and the Delaware River waterfront.
Key Highlights
- Triplex configuration with 6 bedrooms, 4 full bathrooms, and 1 half bath
- Four‑story townhouse with an attic and semi‑finished basement
- 13‑foot ceilings, multi‑story atrium, and circular openings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,335
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,286,700
$2.3M
Cap Rate 7%
$1,633,357
$1.6M
Cap Rate 9%
$1,270,389
$1.3M
Market Conditions
NOI Build-Up for 6,700 SF
Gross rent
$172.9K $25.80/SF
− Vacancy
−$9.5K −$1.42/SF
EGI
$163.3K $24.38/SF
− OpEx
−$49.0K −$7.31/SF
NOI
$114.3K $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 Rate 5%
$2,286,700
Cap Rate 7%
$1,633,357
Cap Rate 9%
$1,270,389
Alternative Uses
Best Use
Multifamily LT 5
$1.63M
$1.43M – $1.91M
NOI $114,335 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$1.51M
$1.32M – $1.76M
NOI $105,388 @ 7.0% cap · market cap 4.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
6,144
Businesses Nearby
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Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Four residential levels combine preserved period details with an elevator, a walled garden, and an upper terrace.
Where is this triplex located?
The property is located at 234 S 3rd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,490,000.
What are key features of this property?
This property features: Triplex configuration with 6 bedrooms, 4 full bathrooms, and 1 half bath; Four‑story townhouse with an attic and semi‑finished basement; 13‑foot ceilings, multi‑story atrium, and circular openings
