Renovated Bi-Level
For Sale
$319,900
3320 N PARK AVENUE, Philadelphia, PA 19140
Two separate apartments provide two- and three-bedroom layouts, including a distinctive bi-level upper residence.
Property Size1,366 SF
Days on Market23
Property Features for 3320 N PARK AVENUE
General Information
Standard status
Active
Size
1,366 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,208
Building Details
Building Size
1,366 SF
Year Built
1940
Year Renovated
2023
Listing Agency:
Quality Real Estate-Broad St
Listed By:
Celenia Martinez · License #RS331750
(267) 694-0246
Source:
Mainlinekw
Added: Aug 17
Changed: Aug 31
Last Checked: Sep 8 at 12:05PM
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 Quality Real Estate-Broad St
Investment Insights
Based on property information with market context.
This duplex contains two separate apartments with practical residential layouts. The first-floor unit offers two bedrooms and one-level living, while the upper apartment includes three bedrooms within a bi-level design that separates living areas from bedrooms. A welcoming front porch adds usable outdoor space. The property was renovated in 2023 and was built in 1940.
Located in Philadelphia’s Temple University area, the property is near schools, medical services, shopping, dining, transportation, and everyday amenities. Security patrols serving the area and community are also noted. The first-floor apartment is currently rented, and the property includes a 10 year tax abatement incentive.
Located in Philadelphia’s Temple University area, the property is near schools, medical services, shopping, dining, transportation, and everyday amenities. Security patrols serving the area and community are also noted. The first-floor apartment is currently rented, and the property includes a 10 year tax abatement incentive.
Key Highlights
- Renovated in 2023
- Two separate apartments with two- and three‑bedroom layouts
- Upper apartment features a bi‑level floor plan
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
$23,311
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
7.29%
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%
$466,220
$466.2K
Cap Rate 7%
$333,014
$333.0K
Cap Rate 9%
$259,011
$259.0K
Market Conditions
NOI Build-Up for 1,366 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
$35.2K $25.80/SF
− Vacancy
−$1.9K −$1.42/SF
EGI
$33.3K $24.38/SF
− OpEx
−$10.0K −$7.31/SF
NOI
$23.3K $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%
$466,220
Cap Rate 7%
$333,014
Cap Rate 9%
$259,011
Alternative Uses
Best Use
Multifamily LT 5
$333.0K
$291.4K – $388.5K
NOI $23,311 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$307.0K
$268.6K – $358.1K
NOI $21,487 @ 7.0% cap · market cap 6.72%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,263
Businesses Nearby
Explore this area
Business Placement
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
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?
Duplex - Two separate apartments provide two- and three-bedroom layouts, including a distinctive bi-level upper residence.
Where is this duplex located?
The property is located at 3320 N PARK AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Renovated in 2023; Two separate apartments with two- and three‑bedroom layouts; Upper apartment features a bi‑level floor plan
