Masonry Triplex Near
For Sale
Contact for pricing
324 S 42ND ST, Philadelphia, PA 19104
Masonry multifamily property with three occupied units and RM-1 zoning.
Property Size3,618 SF
Price / SF$262.58
Days on Market82
Property Features for 324 S 42ND ST
General Information
Standard status
Active
Size
3,618 SF
Class
B
Property subtype
Multifamily
Zoning
RM-1
Occupancy
100%
Investment Type
Value Add
Site & Location
Neighborhood
West Powelton
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 2 x 3BR/1BA
Multifamily Units
3
Building Details
Year Built
1930
Buildings
1
Stories
3
Units
3
Tenancy
Multi
Construction
masonry
Listing Agency:
SDG Real Estate
Listed By:
Shawn Witter · License #PA 326040
Source:
Crexi
Added: Aug 3
Changed: Oct 9
Last Checked: Oct 23 at 4:01AM
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 SDG Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1930, this masonry triplex contains three residential units: one two-bedroom, one-bath unit and two three-bedroom, one-bath units. The property is fully occupied, with utilities paid by tenants. An L&I permit allows up to 5–7 units, subject to verification and applicable requirements.
The building is located in Philadelphia’s University City / Spruce Hill submarket near the University of Pennsylvania, Penn Medicine, CHOP, and Drexel. It has a Walk Score of 93+ and sits blocks from SEPTA trolley lines and the Market-Frankford Line. The property is within the Southeast Spruce Hill Historic District, where exterior alterations require Historical Commission approval.
The building is located in Philadelphia’s University City / Spruce Hill submarket near the University of Pennsylvania, Penn Medicine, CHOP, and Drexel. It has a Walk Score of 93+ and sits blocks from SEPTA trolley lines and the Market-Frankford Line. The property is within the Southeast Spruce Hill Historic District, where exterior alterations require Historical Commission approval.
Key Highlights
- Three‑unit configuration with one 2BR/1BA and two 3BR/1BA units
- Fully occupied with tenant‑paid utilities
- L&I permit allows up to 5–7 units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,741
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,234,820
$1.2M
Cap Rate 7%
$882,014
$882.0K
Cap Rate 9%
$686,011
$686.0K
Market Conditions
NOI Build-Up for 3,618 SF
Gross rent
$93.3K $25.80/SF
− Vacancy
−$5.1K −$1.42/SF
EGI
$88.2K $24.38/SF
− OpEx
−$26.5K −$7.31/SF
NOI
$61.7K $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 Rate 5%
$1,234,820
Cap Rate 7%
$882,014
Cap Rate 9%
$686,011
Alternative Uses
Best Use
Multifamily LT 5
$882.0K
$771.8K – $1.03M
NOI $61,741 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$813.0K
$711.4K – $948.5K
NOI $56,909 @ 7.0% cap · market cap 5.99%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,616
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
Frequently Asked Questions
What type of property is this?
Triplex - Masonry multifamily property with three occupied units and RM-1 zoning.
Where is this triplex located?
The property is located at 324 S 42ND ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three‑unit configuration with one 2BR/1BA and two 3BR/1BA units; Fully occupied with tenant‑paid utilities; L&I permit allows up to 5–7 units
