Triplex with Off-Street
For Sale
$365,000
2900 Devereaux Avenue, Philadelphia, PA 19149
Three separately metered residences include private laundry, basement living space, and outdoor areas on a corner parcel.
Property Size1,764 SF
Price / SF$206.92
Days on Market148
Property Features for 2900 Devereaux Avenue
General Information
Standard status
Active
Size
1,764 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,512
Amenities
in-unit laundry
2+ Access Exits
No Pool
Above Grade, Below Grade
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Compass
(215) 530-6929
Listed By:
Terry Upshur · License #RS339817
(215) 530-6929
Source:
Compass
Added: Apr 6
Changed: Aug 30
Last Checked: Aug 30 at 1:58AM
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
Investment Insights
Based on property information with market context.
Located at 2900 Devereaux Avenue in Philadelphia, this three-unit residential income property was built in 1950 and is zoned RSA5. The configuration includes two 2-bedroom, 1-bathroom apartments and a 1-bedroom, 1-bathroom basement unit. Each residence has separate electric and gas metering and its own laundry facilities.
The corner parcel provides off-street parking and yard space, with a rear deck associated with Unit 1. Recent property work includes newer furnaces, a newer roof, and an updated basement bathroom. The property is near shopping centers and Wissinoming Park, with access to Roosevelt Boulevard and I-95 for travel toward Center City or New Jersey.
The corner parcel provides off-street parking and yard space, with a rear deck associated with Unit 1. Recent property work includes newer furnaces, a newer roof, and an updated basement bathroom. The property is near shopping centers and Wissinoming Park, with access to Roosevelt Boulevard and I-95 for travel toward Center City or New Jersey.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units plus one 1‑bedroom, 1‑bathroom basement unit
- Separate electric and gas meters, with individual laundry for each unit
- Corner property with ample yard space and off‑street parking
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
$25,119
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
6.88%
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%
$502,380
$502.4K
Cap Rate 7%
$358,843
$358.8K
Cap Rate 9%
$279,100
$279.1K
Market Conditions
NOI Build-Up for 1,764 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
$37.0K $21.00/SF
− Vacancy
−$1.2K −$0.66/SF
EGI
$35.9K $20.34/SF
− OpEx
−$10.8K −$6.10/SF
NOI
$25.1K $14.24/SF
Area
ZIP 19149
Vacancy
3.13%
Lease Rate
$21.00 /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%
$502,380
Cap Rate 7%
$358,843
Cap Rate 9%
$279,100
Alternative Uses
Best Use
Apartment 5plus
$3.38M
$2.96M – $3.94M
NOI $236,422 @ 7.0% cap · market cap 64.77%
Second Best
Multifamily LT 5
$358.8K
$314.0K – $418.7K
NOI $25,119 @ 7.0% cap · market cap 6.88%
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
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
Explore this area
Business Placement
Demographics for 19149, PA
60,408
Population
20,810
Households
2.9
Avg Household Size
33
Median Age
15%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
25,170
Density / Sq Mi
$54,679
Median Household Income
$33,111
Median Earnings
$1,484
Median Rent
$198,200
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 - Three separately metered residences include private laundry, basement living space, and outdoor areas on a corner parcel.
Where is this triplex located?
The property is located at 2900 Devereaux Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units plus one 1‑bedroom, 1‑bathroom basement unit; Separate electric and gas meters, with individual laundry for each unit; Corner property with ample yard space and off‑street parking
