Legal Triplex with Finished
New
For Sale
$395,000
2724 ASH Street, Philadelphia, PA 19137
Multi-Family, PHILADELPHIA, PA
Property Size1,712 SF
Lot Size0.03 Acres
Price / SF$230.72
Days on Market1
Property Features for 2724 ASH Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking features
On Street
Subdivision
BRIDESBURG
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,712 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
3874
Utilities
Heating system
Central
Cooling system
Wall Unit(s), Central Air
Amenities
laundry rooms
fenced backyard
finished basement
Building Details
Year built
1920
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Opus Elite Real Estate
(215) 395-6277
Listed By:
Svetlana Sypen · License #RS345760
(267) 815-6560
Added: Sep 8
Last Checked: Sep 8 at 10:06PM
MLS# PAPH2667106
Copyright © 2026 Bright MLS. 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.
Located at 2724 ASH Street in Philadelphia, this legal triplex contains 1,712 square feet and was built in 1920 with masonry construction. The layout includes two one-bedroom units and one studio, along with three laundry rooms. Two units are vacant, while the studio is occupied by a month-to-month tenant.
The finished basement provides a large recreation room, and the property also includes a fenced backyard with possible balcony or deck use. Central heating is installed, with both central air and wall-unit cooling. On-street parking serves the property, which occupies a 0.0321-acre lot in Philadelphia, PA 19137.
The finished basement provides a large recreation room, and the property also includes a fenced backyard with possible balcony or deck use. Central heating is installed, with both central air and wall-unit cooling. On-street parking serves the property, which occupies a 0.0321-acre lot in Philadelphia, PA 19137.
Key Highlights
- Legal triplex with 1,712 square feet
- Two 1‑bedroom units and one studio
- Two units vacant; studio occupied by a month‑to‑month tenant
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
$29,215
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
7.40%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
632
Businesses Nearby
Explore this area
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
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 - Updated three-unit masonry property with a finished recreation room, fenced backyard, and a mix of central and wall-unit cooling.
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 with 1,712 square feet; Two 1‑bedroom units and one studio; Two units vacant; studio occupied by a month‑to‑month tenant
