Three-Unit Triplex with New
For Sale
$674,000
2419 Brown Street, Philadelphia, PA 19130
Separate utilities, heating equipment, hot water tanks, and electric panels serve each residential unit.
Property Size2,340 SF
Price / SF$288.03
Days on Market211
Property Features for 2419 Brown Street
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Property Condition
Severity
Repairs Needed
Evidence
needs TLS
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,961
Amenities
No
Built-In Range, Refrigerator, Washer, Dryer
No Pool
Above Grade, Below Grade
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Re/Max One Realty
(215) 327-6399
Listed By:
Ed S Pocrass · License #AB048890L
(215) 327-6399
Source:
Compass
Added: Jan 31
Changed: Aug 30
Last Checked: Aug 30 at 1:28AM
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 Re/Max One Realty
Investment Insights
Based on property information with market context.
This three-unit residential property contains a two-bedroom first-floor unit with access to the basement, a two-bedroom second-floor unit, and a one-bedroom third-floor unit. The first- and second-floor apartments are vacant, while the third-floor apartment is occupied. Each unit has separate utilities, along with its own heater, domestic hot water tank, and electric panel. The property also includes built-in range, refrigerator, washer, and dryer appliances, and the roof was replaced in 2025.
Located at 2419 Brown Street in Philadelphia’s Art Museum and Fairmount neighborhoods, the property is within MLS Area 19130 and the Philadelphia City School District. The 2,340-square-foot building was constructed in 1920 and is zoned RSA5. Its three-unit configuration and existing separation of building systems provide a clear framework for residential ownership or operation.
Located at 2419 Brown Street in Philadelphia’s Art Museum and Fairmount neighborhoods, the property is within MLS Area 19130 and the Philadelphia City School District. The 2,340-square-foot building was constructed in 1920 and is zoned RSA5. Its three-unit configuration and existing separation of building systems provide a clear framework for residential ownership or operation.
Key Highlights
- Three‑unit triplex with 2,340 SF of building area
- Unit mix includes two 2‑bedroom units and one 1‑bedroom unit
- First- and second‑floor units are vacant; third‑floor unit is tenant occupied
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
$39,932
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
5.92%
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%
$798,640
$798.6K
Cap Rate 7%
$570,457
$570.5K
Cap Rate 9%
$443,689
$443.7K
Market Conditions
NOI Build-Up for 2,340 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
$60.4K $25.80/SF
− Vacancy
−$3.3K −$1.42/SF
EGI
$57.0K $24.38/SF
− OpEx
−$17.1K −$7.31/SF
NOI
$39.9K $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%
$798,640
Cap Rate 7%
$570,457
Cap Rate 9%
$443,689
Alternative Uses
Best Use
Multifamily LT 5
$570.5K
$499.2K – $665.5K
NOI $39,932 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$525.8K
$460.1K – $613.5K
NOI $36,807 @ 7.0% cap · market cap 5.46%
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
2,138
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
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 - Separate utilities, heating equipment, hot water tanks, and electric panels serve each residential unit.
Where is this triplex located?
The property is located at 2419 Brown Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $674,000.
What are key features of this property?
This property features: Three‑unit triplex with 2,340 SF of building area; Unit mix includes two 2‑bedroom units and one 1‑bedroom unit; First- and second‑floor units are vacant; third‑floor unit is tenant occupied
