Turnkey 3-Unit Triplex
For Sale
$445,000
2718 N 11TH STREET, Philadelphia, PA 19133
Well-maintained triplex with three two-bedroom units, two currently occupied, plus a vacant first-floor unit.
Property Size2,346 SF
Price / SF$189.68
Days on Market76
Property Features for 2718 N 11TH STREET
General Information
Standard status
Active
Size
2,346 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,879
Building Details
Building Size
2,346 SF
Year Built
1920
Listing Agency:
Believe Realty Group
Listed By:
Shydera Edwards · License #RS343887
(267) 315-8104
Source:
Patmckennarealtors
Added: Jun 22
Changed: Sep 4
Last Checked: Sep 5 at 4:50AM
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 Believe Realty Group
Investment Insights
Based on property information with market context.
This well-maintained triplex presents a turnkey setup with three spacious two-bedroom units. The third-floor unit includes two full bathrooms, adding useful flexibility to the overall layout. Two units are currently occupied, providing immediate rental income, while the first-floor unit is vacant and ready for immediate occupancy.
Located in Philadelphia County, the property offers convenient access to public transportation, major roadways, shopping, dining, and Temple University.
With approximately 2,346 square feet, the building provides a functional 3-unit configuration and an owner-occupant option through the available first-floor unit.
Located in Philadelphia County, the property offers convenient access to public transportation, major roadways, shopping, dining, and Temple University.
With approximately 2,346 square feet, the building provides a functional 3-unit configuration and an owner-occupant option through the available first-floor unit.
Key Highlights
- Well‑maintained triplex built in 1920 with approximately 2,346 SF and three 2‑bedroom units
- Two units currently occupied, providing immediate rental income
- Vacant first‑floor unit offers owner‑occupant or house‑hacker option
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
$40,034
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
9.00%
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%
$800,680
$800.7K
Cap Rate 7%
$571,914
$571.9K
Cap Rate 9%
$444,822
$444.8K
Market Conditions
NOI Build-Up for 2,346 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
$60.5K $25.80/SF
− Vacancy
−$3.3K −$1.42/SF
EGI
$57.2K $24.38/SF
− OpEx
−$17.2K −$7.31/SF
NOI
$40.0K $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%
$800,680
Cap Rate 7%
$571,914
Cap Rate 9%
$444,822
Alternative Uses
Best Use
Multifamily LT 5
$571.9K
$500.4K – $667.2K
NOI $40,034 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$527.2K
$461.3K – $615.0K
NOI $36,901 @ 7.0% cap · market cap 8.29%
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
2,103
Businesses Nearby
Explore this area
Business Placement
Demographics for 19133, PA
24,772
Population
10,766
Households
2.3
Avg Household Size
34
Median Age
7%
College-Educated
63%
High-School Grad
1.3 sq mi
ZIP Area
19,055
Density / Sq Mi
$31,756
Median Household Income
$26,563
Median Earnings
$919
Median Rent
$85,100
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 triplex with three two-bedroom units, two currently occupied, plus a vacant first-floor unit.
Where is this triplex located?
The property is located at 2718 N 11TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Well‑maintained triplex built in 1920 with approximately 2,346 SF and three 2‑bedroom units; Two units currently occupied, providing immediate rental income; Vacant first‑floor unit offers owner‑occupant or house‑hacker option
