Fully Renovated Triplex for
For Sale
$379,000
3008 West Dauphin Street, Philadelphia, PA 19132
Renovated REO triplex with two 2-bedroom and one 1-bedroom unit, sold as-is and ready for immediate occupancy.
Property Size2,100 SF
Price / SF$180.48
Days on Market233
Property Features for 3008 West Dauphin Street
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,316
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1915
Listing Agency:
EXP Realty, LLC
Listed By:
Guillermo Salas III · License #AB067011
(484) 429-6025
Source:
Compass
Added: Jan 17
Changed: Aug 8
Last Checked: Jul 23 at 4:22PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This fully renovated REO triplex includes three residential units, all rehabbed with modern finishes and updated systems. The property offers two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, presented in clean, turnkey condition.
The property is located in Philadelphia within the Strawberry Mansion corridor and is listed for sale as-is with clean title. It is being marketed as ready for immediate lease-up.
The unit mix supports projected gross annual income of approximately $39,600 once fully leased, based on projected rents of approximately $1,150 per month for each 2-bedroom unit and approximately $1,000 per month for the 1-bedroom unit.
The property is located in Philadelphia within the Strawberry Mansion corridor and is listed for sale as-is with clean title. It is being marketed as ready for immediate lease-up.
The unit mix supports projected gross annual income of approximately $39,600 once fully leased, based on projected rents of approximately $1,150 per month for each 2-bedroom unit and approximately $1,000 per month for the 1-bedroom unit.
Key Highlights
- Renovated REO triplex (three units total) at 3008 W. Dauphin Street.
- Unit mix: two 2 bed / 1 bath units plus one 1 bed / 1 bath unit.
- Projected rents: $1,150/month for each 2 bed unit and $1,000/month for the 1 bed unit.
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
$33,032
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
8.72%
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%
$660,640
$660.6K
Cap Rate 7%
$471,886
$471.9K
Cap Rate 9%
$367,022
$367.0K
Market Conditions
NOI Build-Up for 2,100 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
$63.8K $30.36/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$60.1K $28.60/SF
− OpEx
−$27.0K −$12.87/SF
NOI
$33.0K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$660,640
Cap Rate 7%
$471,886
Cap Rate 9%
$367,022
Alternative Uses
Best Use
Multifamily LT 5
$511.9K
$448.0K – $597.3K
NOI $35,836 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$471.9K
$412.9K – $550.5K
NOI $33,032 @ 7.0% cap · market cap 8.72%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,398
Businesses Nearby
Explore this area
Business Placement
Demographics for 19132, PA
33,926
Population
17,402
Households
1.9
Avg Household Size
37
Median Age
13%
College-Educated
83%
High-School Grad
2.2 sq mi
ZIP Area
15,421
Density / Sq Mi
$30,974
Median Household Income
$30,300
Median Earnings
$1,055
Median Rent
$73,000
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 - Renovated REO triplex with two 2-bedroom and one 1-bedroom unit, sold as-is and ready for immediate occupancy.
Where is this triplex located?
The property is located at 3008 West Dauphin Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Renovated REO triplex (three units total) at 3008 W. Dauphin Street.; Unit mix: two 2 bed / 1 bath units plus one 1 bed / 1 bath unit.; Projected rents: $1,150/month for each 2 bed unit and $1,000/month for the 1 bed unit.
