Three-Unit Brick
For Sale
$475,000
3217 TURNER Street, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size1,752 SF
Lot Size0.03 Acres
Price / SF$271.12
Days on Market50
Property Features for 3217 TURNER Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
2
Parking features
On Street, Driveway
Subdivision
STRAWBERRY MANSION
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,752 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
5260
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
roof deck
central A/C
full basement
Building Details
Year built
1915
Number of units
3
Building materials
Brick, Stucco
Listing Agency:
Redfin Corporation
(484) 962-0034
Listed By:
Brenda R Beiser · License #RS335119
(267) 796-4769
Added: Jul 29
Changed: Sep 13
Last Checked: Sep 16 at 3:06AM
MLS# PAPH2653634
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 1,752-square-foot triplex contains three two-bedroom units within a 1915-built rowhome. The property combines brick and stucco construction with central heating and central air conditioning. A full basement provides storage, while a small roof deck adds outdoor space. Off-street parking is available for two vehicles, with additional on-street parking listed.
The property is located at 3217 Turner Street in Philadelphia, Pennsylvania 19121. Its 0.0341-acre lot supports the existing multifamily configuration, and the property is fully rented. The three-unit layout, established construction, basement storage, roof deck, and parking features create a defined residential income property profile.
The property is located at 3217 Turner Street in Philadelphia, Pennsylvania 19121. Its 0.0341-acre lot supports the existing multifamily configuration, and the property is fully rented. The three-unit layout, established construction, basement storage, roof deck, and parking features create a defined residential income property profile.
Key Highlights
- Three 2‑bedroom units in a triplex configuration
- 1,752 square feet on a 0.0341‑acre lot
- Fully rented property
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
$29,898
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
6.29%
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%
$597,960
$598.0K
Cap Rate 7%
$427,114
$427.1K
Cap Rate 9%
$332,200
$332.2K
Market Conditions
NOI Build-Up for 1,752 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
$45.2K $25.80/SF
− Vacancy
−$2.5K −$1.42/SF
EGI
$42.7K $24.38/SF
− OpEx
−$12.8K −$7.31/SF
NOI
$29.9K $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%
$597,960
Cap Rate 7%
$427,114
Cap Rate 9%
$332,200
Alternative Uses
Best Use
Multifamily LT 5
$427.1K
$373.7K – $498.3K
NOI $29,898 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$393.7K
$344.5K – $459.3K
NOI $27,558 @ 7.0% cap · market cap 5.80%
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
902
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
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 occupied residential income property with central air, basement storage, and off-street parking.
Where is this triplex located?
The property is located at 3217 TURNER Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three 2‑bedroom units in a triplex configuration; 1,752 square feet on a 0.0341‑acre lot; Fully rented property
