Fully Leased Triplex in
For Sale
$610,000
305 North 41st Street, Philadelphia, PA 19104
Turn-key triplex in high-growth area near universities and transportation.
Property Size2,505 SF
Price / SF$243.51
Days on Market139
Property Features for 305 North 41st Street
General Information
Standard status
Active
Size
2,505 SF
Property subtype
Multi-Family / Fee Simple
Building Details
Year Built
1915
Listing Agency:
OCF Realty LLC - Philadelphia
(267) 304-1771
Listed By:
Dava Costello · License #RS332269
(267) 304-1771
Source:
Compass
Added: Mar 17
Changed: Jul 10
Last Checked: Aug 2 at 12:14PM
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 OCF Realty LLC - Philadelphia
Investment Insights
Based on property information with market context.
Located at 305 N 41st Street in Philadelphia, this is a fully leased triplex offering immediate cash flow and long-term upside in a growing development corridor. The building features three well-maintained apartments, each with 2 bedrooms and 1 bath. Each unit includes hardwood flooring, in-unit laundry, and upgraded kitchens and bathrooms. Kitchens feature granite countertops, white cabinetry, and newer appliances, while bathrooms offer updated fixtures and modern finishes. The lower-level unit is the largest, with a private outdoor patio and direct basement access for storage. All units are accessed through a shared foyer and common hallway. The property is positioned within a major development and institutional growth area, benefiting from rental demand. It is walkable to UPenn and Drexel campuses and minutes from University City’s hospitals, research centers, and commercial corridors. Located two blocks from 40th Street Station, it offers connectivity via rail, trolley, and bus routes. With a Walk Score of 85 and Transit Score of 99, residents have access to Market Street, Lancaster Avenue, Spring Garden Street, Center City, I-76, and I-95. The property size is 2505 square feet.
Key Highlights
- Fully leased triplex providing immediate cash flow in a high‑growth location.
- Prime location walkable to UPenn and Drexel, close to University City's hospitals and research centers.
- Excellent transit connectivity with a Walk Score of 85 and a Transit Score of 99, near 40th Street Station.
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 | $64.6k | $25.80 |
| − Vacancy | −$3.6k | −$1.42 |
| EGI | $61.1k | $24.38 |
| − OpEx | −$18.3k | −$7.31 |
| NOI | $42.7k | $17.06 |
2,505 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$610.7K
$534.4K – $712.5K
NOI $42,748 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$562.9K
$492.5K – $656.7K
NOI $39,402 @ 7.0% cap · market cap 6.46%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,616
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
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 - Turn-key triplex in high-growth area near universities and transportation.
Where is this triplex located?
The property is located at 305 North 41st Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Fully leased triplex providing immediate cash flow in a high‑growth location.; Prime location walkable to UPenn and Drexel, close to University City's hospitals and research centers.; Excellent transit connectivity with a Walk Score of 85 and a Transit Score of 99, near 40th Street Station.
