Six-Unit Apartment
New
For Sale
$662,200
314 N 32nd St, Philadelphia, PA 19104
Separately metered units and off-street parking support flexible operations.
Property Size3,860 SF
Price / SF$171.55
Days on Market6
Property Features for 314 N 32nd St
General Information
Standard status
Active
Size
3,860 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Multifamily Units
6
Building Details
Year Built
1900
Listing Agency:
Compass RE
Listed By:
Thomas S Dilsheimer · License #RS222491L
(610) 389-1482
Source:
Viewmarylandhomesforsale
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 15 at 12:12PM
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 RE
Investment Insights
Based on property information with market context.
This six-unit apartment property at 314 N 32nd St in Philadelphia includes 3,860 square feet and two off-street parking spaces. The units are separately metered, providing distinct utility arrangements across the building. Built in 1900, the property is positioned as a renovation project with the opportunity to update the existing improvements.
The building is near Drexel and Penn’s campus footprint and within University City, an area associated with employment and student housing. Its location places the property near the university-oriented rental activity described for West Philadelphia, while the unit count and separate metering provide a straightforward multifamily configuration.
The building is near Drexel and Penn’s campus footprint and within University City, an area associated with employment and student housing. Its location places the property near the university-oriented rental activity described for West Philadelphia, while the unit count and separate metering provide a straightforward multifamily configuration.
Key Highlights
- Six‑unit multifamily property with 3,860 square feet
- Two off‑street parking spaces
- Separately metered units
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
$60,716
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
9.17%
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%
$1,214,320
$1.2M
Cap Rate 7%
$867,371
$867.4K
Cap Rate 9%
$674,622
$674.6K
Market Conditions
NOI Build-Up for 3,860 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
$117.2K $30.36/SF
− Vacancy
−$6.8K −$1.76/SF
EGI
$110.4K $28.60/SF
− OpEx
−$49.7K −$12.87/SF
NOI
$60.7K $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%
$1,214,320
Cap Rate 7%
$867,371
Cap Rate 9%
$674,622
Alternative Uses
Best Use
Apartment 5plus
$867.4K
$759.0K – $1.01M
NOI $60,716 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$941.0K
$823.4K – $1.10M
NOI $65,870 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
5,082
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Separately metered units and off-street parking support flexible operations.
Where is this apartment building located?
The property is located at 314 N 32nd St Philadelphia, PA.
What is the asking price?
The asking price for this property is $662,200.
What are key features of this property?
This property features: Six‑unit multifamily property with 3,860 square feet; Two off‑street parking spaces; Separately metered units
