Renovated
New
For Sale
$699,900
2832 BELMONT AVENUE, Philadelphia, PA 19131
The building contains three residential apartments, each with a two-bedroom, one-bathroom layout.
Property Size2,982 SF
Days on Market4
Property Features for 2832 BELMONT AVENUE
General Information
Standard status
Active
Size
2,982 SF
Total Parking Spaces
1
Property subtype
Triplex
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,296
Building Details
Building Size
2,982 SF
Year Built
1925
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Scott C Frith · License #RS342476
(215) 738-5737
Source:
Lizclarkrealestate
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 8:04AM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
Renovated residential property configured as three apartments. Each unit has two bedrooms and one full bathroom. The building was constructed in 1925 and includes one legal parking space behind the property.
The property is near PCOM and City Avenue.
The property is near PCOM and City Avenue.
Key Highlights
- Three apartments, each with 2 bedrooms and 1 full bathroom
- Renovated building constructed in 1925
- One legal parking space at the rear
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
$50,888
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
7.27%
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%
$1,017,760
$1.0M
Cap Rate 7%
$726,971
$727.0K
Cap Rate 9%
$565,422
$565.4K
Market Conditions
NOI Build-Up for 2,982 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
$76.9K $25.80/SF
− Vacancy
−$4.2K −$1.42/SF
EGI
$72.7K $24.38/SF
− OpEx
−$21.8K −$7.31/SF
NOI
$50.9K $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%
$1,017,760
Cap Rate 7%
$726,971
Cap Rate 9%
$565,422
Alternative Uses
Best Use
Multifamily LT 5
$727.0K
$636.1K – $848.1K
NOI $50,888 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$670.1K
$586.3K – $781.8K
NOI $46,905 @ 7.0% cap · market cap 6.70%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,959
Businesses Nearby
Explore this area
Business Placement
Demographics for 19131, PA
42,705
Population
22,826
Households
1.9
Avg Household Size
38
Median Age
30%
College-Educated
92%
High-School Grad
5.3 sq mi
ZIP Area
8,058
Density / Sq Mi
$46,057
Median Household Income
$40,052
Median Earnings
$1,312
Median Rent
$163,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - The building contains three residential apartments, each with a two-bedroom, one-bathroom layout.
Where is this triplex located?
The property is located at 2832 BELMONT AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three apartments, each with 2 bedrooms and 1 full bathroom; Renovated building constructed in 1925; One legal parking space at the rear
