Renovated Three-Unit Apartment
New
For Sale
$899,999
3108 HAVERFORD Avenue, Philadelphia, PA 19104
Multi-Family, PHILADELPHIA, PA
Property Size2,723 SF
Lot Size0.03 Acres
Price / SF$330.52
Days on Market1
Property Features for 3108 HAVERFORD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Dining Room, Basement
Interior features
Bathroom - Tub Shower, Ceiling Fan(s), Combination Kitchen/Dining, Floor Plan - Open, Flat, Recessed Lighting, Upgraded Countertops
Appliances
Built-In Microwave, Dishwasher, Dryer - Electric, Dryer - Front Loading, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer - Front Loading, WaterHeater
Subdivision
UNIVERSITY CITY
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,723 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
3228
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
in-unit laundry
Building Details
Year built
1935
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(215) 923-7600
Listed By:
Keith M Stallone · License #RS326084
(267) 606-8502
Added: Oct 3
Last Checked: Oct 3 at 11:06PM
MLS# PAPH2677236
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This masonry triplex contains three apartments totaling 2,723 square feet. The unit mix includes two 2-bedroom, 2-bathroom apartments and one 4-bedroom, 3-bathroom residence. Renovations were completed in 2023, with updated kitchens, modern finishes, central air, forced-air heating, and in-unit laundry. The property was built in 1935.
The building is in Philadelphia’s University City area, steps from Drexel University and minutes from the University of Pennsylvania. Nearby medical centers, transit hubs, and retail are also noted in the property information.
The building is in Philadelphia’s University City area, steps from Drexel University and minutes from the University of Pennsylvania. Nearby medical centers, transit hubs, and retail are also noted in the property information.
Key Highlights
- Three apartments: two 2‑bedroom, 2‑bathroom units and one 4‑bedroom, 3‑bathroom unit
- 2,723 square feet on a 0.0273‑acre lot
- Renovated in 2023
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
$46,468
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
5.16%
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%
$929,360
$929.4K
Cap Rate 7%
$663,829
$663.8K
Cap Rate 9%
$516,311
$516.3K
Market Conditions
NOI Build-Up for 2,723 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
$70.3K $25.80/SF
− Vacancy
−$3.9K −$1.42/SF
EGI
$66.4K $24.38/SF
− OpEx
−$19.9K −$7.31/SF
NOI
$46.5K $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%
$929,360
Cap Rate 7%
$663,829
Cap Rate 9%
$516,311
Alternative Uses
Best Use
Multifamily LT 5
$663.8K
$580.9K – $774.5K
NOI $46,468 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$611.9K
$535.4K – $713.9K
NOI $42,831 @ 7.0% cap · market cap 4.76%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,238
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Fully leased residential property with updated kitchens, contemporary finishes, and laundry in each apartment.
Where is this triplex located?
The property is located at 3108 HAVERFORD Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Three apartments: two 2‑bedroom, 2‑bathroom units and one 4‑bedroom, 3‑bathroom unit; 2,723 square feet on a 0.0273‑acre lot; Renovated in 2023
