Updated Triplex with Recreation
For Sale
$395,000
2724 ASH STREET, Philadelphia, PA 19137
Legally configured multifamily property with finished basement recreation space and separate laundry areas.
Property Size1,712 SF
Days on Market49
Property Features for 2724 ASH STREET
General Information
Standard status
Active
Size
1,712 SF
Property subtype
Triplex
Site & Location
Neighborhood
Kensington
Units
Unit Mix
2 x 1BR, 1 x studio
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,874
Amenities
fenced in backyard
balcony/deck
finished basement recreation room
laundry rooms
Building Details
Building Size
1,712 SF
Year Built
1920
Listing Agency:
Opus Elite Real Estate
Listed By:
Svetlana Sypen · License #RS345760
(267) 815-6560
Source:
Mainlinekw
Added: Sep 6
Changed: Oct 21
Last Checked: Oct 23 at 5:02PM
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 Opus Elite Real Estate
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Investment Insights
Based on property information with market context.
Built in 1920, this legally configured triplex contains two one-bedroom apartments and one studio. The studio is occupied under a month-to-month tenancy, while the two one-bedroom units are vacant. The property also includes three laundry rooms and a finished basement arranged as a sizable recreation area. Updates and overall condition support continued residential use, subject to applicable requirements.
Exterior features include a fenced backyard, adding private outdoor space to the property. The legal triplex zoning and existing three-unit layout provide a clearly defined multifamily configuration for an investor, owner-occupant, or larger household seeking rental space.
Exterior features include a fenced backyard, adding private outdoor space to the property. The legal triplex zoning and existing three-unit layout provide a clearly defined multifamily configuration for an investor, owner-occupant, or larger household seeking rental space.
Key Highlights
- Legal triplex zoning with three existing residential units
- Two 1‑bedroom units are vacant; studio is occupied month‑to‑month
- Three laundry rooms included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,215
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,300
$584.3K
Cap Rate 7%
$417,357
$417.4K
Cap Rate 9%
$324,611
$324.6K
Market Conditions
NOI Build-Up for 1,712 SF
Gross rent
$44.2K $25.80/SF
− Vacancy
−$2.4K −$1.42/SF
EGI
$41.7K $24.38/SF
− OpEx
−$12.5K −$7.31/SF
NOI
$29.2K $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%
$584,300
Cap Rate 7%
$417,357
Cap Rate 9%
$324,611
Alternative Uses
Best Use
Multifamily LT 5
$417.4K
$365.2K – $486.9K
NOI $29,215 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$384.7K
$336.6K – $448.8K
NOI $26,929 @ 7.0% cap · market cap 6.82%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
632
Businesses Nearby
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Business Placement
Demographics for 19137, PA
8,682
Population
3,485
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
2.4 sq mi
ZIP Area
3,618
Density / Sq Mi
$64,401
Median Household Income
$46,109
Median Earnings
$1,205
Median Rent
$212,700
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 - Legally configured multifamily property with finished basement recreation space and separate laundry areas.
Where is this triplex located?
The property is located at 2724 ASH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Legal triplex zoning with three existing residential units; Two 1‑bedroom units are vacant; studio is occupied month‑to‑month; Three laundry rooms included
