End-Unit Triplex Income
2938 Devereaux Avenue Philadelphia, PA 19149
For Sale
$425,000
End-unit triplex with separated utilities and a fire alarm system, offering two occupied units currently producing rental income.
Property Size2,583 SF
Price / SF$164.54
Days on Market157
Property Features for 2938 Devereaux Avenue
General Information
- Standard status
- Active
- Size
- 2,583 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1950
Listing Agency:
Real of Pennsylvania
(215) 805-7558
Listed By:
Joshua Farley · License #RS348128
(215) 805-7558
Source:
Compass
Added: Feb 17
Changed: Jul 23
Last Checked: Jul 23 at 4:04PM
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 Real of Pennsylvania
Investment Insights
Based on property information with market context.
This end-unit triplex features separated utilities and an existing fire alarm system. The property includes two currently occupied units, with the 2nd floor unit and the lower level walk-out unit in place. The remaining unit is also part of the triplex configuration.
Public remarks indicate current rent is $1,050 for the 2nd floor unit and $800 for the basement/lower level walk-out unit. The property is located in Philadelphia within the Philadelphia City School District.
This offering is presented as a residential income property with a layout that supports tenant-by-tenant utility separation and includes safety infrastructure already installed.
Public remarks indicate current rent is $1,050 for the 2nd floor unit and $800 for the basement/lower level walk-out unit. The property is located in Philadelphia within the Philadelphia City School District.
This offering is presented as a residential income property with a layout that supports tenant-by-tenant utility separation and includes safety infrastructure already installed.
Key Highlights
- End‑unit triplex built in 1950
- Two occupied units currently producing rental income: 2nd floor $1,050 and lower‑level walk‑out $800
- All utilities are separated
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.2k | $21.00 |
| − Vacancy | −$1.7k | −$0.66 |
| EGI | $52.5k | $20.34 |
| − OpEx | −$15.8k | −$6.10 |
| NOI | $36.8k | $14.24 |
2,583 SF · lease $21.00/SF/yr · vacancy 3.13% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$4.95M
$4.33M – $5.77M
NOI $346,190 @ 7.0% cap · market cap 81.46%
Second Best
Multifamily LT 5
$525.5K
$459.8K – $613.0K
NOI $36,782 @ 7.0% cap · market cap 8.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - End-unit triplex with separated utilities and a fire alarm system, offering two occupied units currently producing rental income.
Where is this triplex located?
The property is located at 2938 Devereaux Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: End‑unit triplex built in 1950; Two occupied units currently producing rental income: 2nd floor $1,050 and lower‑level walk‑out $800; All utilities are separated
