Triplex with
For Sale
$514,000
Pending
3211 West Montgomery Avenue, Philadelphia, PA 19121
Three residential units include flexible occupancy options, a basement, porches, and convenient access to nearby parks and transportation.
Property Size2,604 SF
Days on Market166
Property Features for 3211 West Montgomery Avenue
General Information
Standard status
Pending
Size
2,604 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,115
Amenities
backyard
basement
No
Microwave, Oven/Range - Gas, Stainless Steel Appliances, Refrigerator
Kitchen - Eat-In
Smoke Detector, Electric Alarm
No Pool
Above Grade, Below Grade
Exterior Lighting, Sidewalks, Street Lights
Porch(es)
Building Details
Year Built
1915
Listing Agency:
Keller Williams Realty Devon-Wayne
(215) 688-8340
Listed By:
Tanae D Guerrant · License #RS327387
(215) 688-8340
Source:
Compass
Added: Mar 19
Changed: Aug 29
Last Checked: Aug 30 at 11:54PM
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 Keller Williams Realty Devon-Wayne
Investment Insights
Based on property information with market context.
Built in 1915, this 2,604-square-foot triplex contains three residential units, each configured with two bedrooms and one bathroom. The first-floor unit is vacant and provides access to a full basement, while the second- and third-floor apartments are occupied under month-to-month leases. Interior features include eat-in kitchens, gas oven/ranges, refrigerators, microwaves, stainless steel appliances, and natural light. The property also offers a backyard, porches, sidewalks, exterior lighting, and street lights.
Located at 3211 West Montgomery Avenue in Philadelphia, the property is within the 19121 MLS area and carries RSA5 zoning. Fairmount Park is nearby, with Kelly Drive a 20-minute walk, the Philadelphia Museum of Art a 25-minute walk, and Philadelphia Zoo a 22-minute walk. Strawberry Green Driving Range is a 7-minute walk, while PHL Airport is 19 minutes away. Bus service is less than 1 mile from the property.
Located at 3211 West Montgomery Avenue in Philadelphia, the property is within the 19121 MLS area and carries RSA5 zoning. Fairmount Park is nearby, with Kelly Drive a 20-minute walk, the Philadelphia Museum of Art a 25-minute walk, and Philadelphia Zoo a 22-minute walk. Strawberry Green Driving Range is a 7-minute walk, while PHL Airport is 19 minutes away. Bus service is less than 1 mile from the property.
Key Highlights
- Three‑unit triplex with 2,604 SF of property size
- Each unit offers 2 bedrooms and 1 bathroom
- First‑floor unit is vacant with full basement access
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
$44,437
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
8.65%
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%
$888,740
$888.7K
Cap Rate 7%
$634,814
$634.8K
Cap Rate 9%
$493,744
$493.7K
Market Conditions
NOI Build-Up for 2,604 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
$67.2K $25.80/SF
− Vacancy
−$3.7K −$1.42/SF
EGI
$63.5K $24.38/SF
− OpEx
−$19.0K −$7.31/SF
NOI
$44.4K $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%
$888,740
Cap Rate 7%
$634,814
Cap Rate 9%
$493,744
Alternative Uses
Best Use
Multifamily LT 5
$634.8K
$555.5K – $740.6K
NOI $44,437 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$585.1K
$512.0K – $682.7K
NOI $40,960 @ 7.0% cap · market cap 7.97%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
927
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
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 - Three residential units include flexible occupancy options, a basement, porches, and convenient access to nearby parks and transportation.
Where is this triplex located?
The property is located at 3211 West Montgomery Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $514,000.
What are key features of this property?
This property features: Three‑unit triplex with 2,604 SF of property size; Each unit offers 2 bedrooms and 1 bathroom; First‑floor unit is vacant with full basement access
