Turnkey Triplex Income
For Sale
$495,000
2349 N PARK AVENUE, Philadelphia, PA 19132
MULTI_FAMILY - PHILADELPHIA, PA
Property Size2,830 SF
Price / SF$174.91
Days on Market38
Property Features for 2349 N PARK AVENUE
General Information
Property type
Residential Multi Family
Property subtype
Townhouse
Standard status
Active
Size
2,830 SF
Building Details
Year built
1915
Listing Agency:
BHHS Fox & Roach Haverford Sales Office · Berkshire Hathaway HomeServices
(610) 649-4500
Listed By:
Robin Gordon · License #AB049690L
(610) 246-2280
Added: Jun 24
Changed: Jul 23
Last Checked: Jul 31 at 2:06AM
MLS# PAPH2639922
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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.
2349 Park Avenue is a well-maintained three-unit triplex offered as a turnkey income-producing property. The building features two two-bedroom units and one three-bedroom unit, providing a straightforward mix for rental demand.
Located in Philadelphia (19132), the property is described as steps from Temple University’s main campus, supporting consistent interest in the immediate area for well-kept rental units. The listing also states a 7.5% cap rate.
For investors or buyers seeking an income-generating residential asset, the current configuration offers flexibility across unit sizes while maintaining the convenience of a compact, three-unit structure.
Located in Philadelphia (19132), the property is described as steps from Temple University’s main campus, supporting consistent interest in the immediate area for well-kept rental units. The listing also states a 7.5% cap rate.
For investors or buyers seeking an income-generating residential asset, the current configuration offers flexibility across unit sizes while maintaining the convenience of a compact, three-unit structure.
Key Highlights
- Triplex built in 1915 (2349 Park Avenue)
- 3‑unit rental mix: two 2‑bedroom units and one 3‑bedroom unit
- Listed as a 7.5% cap rate income‑producing property
Financial Insights For Apartment 5plus
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 | $85.9k | $30.36 |
| − Vacancy | −$5.0k | −$1.76 |
| EGI | $80.9k | $28.60 |
| − OpEx | −$36.4k | −$12.87 |
| NOI | $44.5k | $15.73 |
2,830 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$689.9K
$603.7K – $804.9K
NOI $48,294 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$635.9K
$556.4K – $741.9K
NOI $44,515 @ 7.0% cap · market cap 8.99%
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
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,912
Businesses Nearby
Explore this area
Business Placement
Demographics for 19132, PA
33,926
Population
17,402
Households
1.9
Avg Household Size
37
Median Age
13%
College-Educated
83%
High-School Grad
2.2 sq mi
ZIP Area
15,421
Density / Sq Mi
$30,974
Median Household Income
$30,300
Median Earnings
$1,055
Median Rent
$73,000
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 - Well-maintained three-unit triplex with two two-bedroom units and one three-bedroom unit near Temple University.
Where is this triplex located?
The property is located at 2349 N PARK AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Triplex built in 1915 (2349 Park Avenue); 3‑unit rental mix: two 2‑bedroom units and one 3‑bedroom unit; Listed as a 7.5% cap rate income‑producing property
