Three-Story Triplex with Outdoor
For Sale
$550,000
319 Wharton Street, Philadelphia, PA 19147
All three apartments are rented, with separate electric utilities paid directly by tenants.
Property Size1,968 SF
Price / SF$279.47
Days on Market158
Property Features for 319 Wharton Street
General Information
Standard status
Active
Size
1,968 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Taxes and HOA fees
Annual Taxes
$6,615
Amenities
No
Cooktop, Built-In Range, Dishwasher, Disposal, Oven/Range - Electric, Refrigerator
No Pool
Above Grade, Below Grade
Building Details
Year Built
1915
Listing Agency:
RE/MAX Metropolitan Inc
(215) 327-6399
Listed By:
Ed S Pocrass · License #AB048890L
(215) 327-6399
Source:
Compass
Added: Mar 26
Changed: Aug 29
Last Checked: Aug 29 at 10:28PM
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 RE/MAX Metropolitan Inc
Investment Insights
Based on property information with market context.
This three-story triplex contains three apartments, each supported by separate electric utilities that tenants pay directly. The property includes a rear yard serving the first-floor residence and a rear balcony associated with the second-floor unit. Interior equipment includes electric cooking appliances, refrigerators, dishwashers, and disposals. Built in 1915, the building is designated RSA5 and offers 1,968 SF of property size.
The property is located at 319 Wharton Street in Philadelphia’s Pennsport neighborhood, within ZIP Code 19147. Center City, Passyunk Square, major highways, and sports and entertainment complexes are all described as a few minutes away. The property is in the Philadelphia City School District.
The property is located at 319 Wharton Street in Philadelphia’s Pennsport neighborhood, within ZIP Code 19147. Center City, Passyunk Square, major highways, and sports and entertainment complexes are all described as a few minutes away. The property is in the Philadelphia City School District.
Key Highlights
- Three‑story triplex with 3 units
- All apartments are rented
- 1,968 SF property size
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
$33,584
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
6.11%
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%
$671,680
$671.7K
Cap Rate 7%
$479,771
$479.8K
Cap Rate 9%
$373,156
$373.2K
Market Conditions
NOI Build-Up for 1,968 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
$50.8K $25.80/SF
− Vacancy
−$2.8K −$1.42/SF
EGI
$48.0K $24.38/SF
− OpEx
−$14.4K −$7.31/SF
NOI
$33.6K $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%
$671,680
Cap Rate 7%
$479,771
Cap Rate 9%
$373,156
Alternative Uses
Best Use
Multifamily LT 5
$479.8K
$419.8K – $559.7K
NOI $33,584 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$442.2K
$387.0K – $515.9K
NOI $30,956 @ 7.0% cap · market cap 5.63%
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
2,605
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
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 - All three apartments are rented, with separate electric utilities paid directly by tenants.
Where is this triplex located?
The property is located at 319 Wharton Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Three‑story triplex with 3 units; All apartments are rented; 1,968 SF property size
