Updated Triplex with Rear
For Sale
$599,900
Pending
3408 Sunnyside Avenue, Philadelphia, PA 19129
Three apartments feature varied layouts, natural light, individual parking, and access to shared basement laundry.
Property Size2,363 SF
Days on Market185
Property Features for 3408 Sunnyside Avenue
General Information
Standard status
Pending
Size
2,363 SF
Total Parking Spaces
3
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Units
Unit Mix
2 x 1BR, 1 x 2BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,159
Amenities
shared washer/dryer
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1916
Listing Agency:
BHHS Fox & Roach-Blue Bell
(215) 817-2424
Listed By:
Adam Brown · License #RS331415
(215) 817-2424
Source:
Compass
Added: Feb 27
Changed: Aug 30
Last Checked: Aug 30 at 8:35PM
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 BHHS Fox & Roach-Blue Bell
Investment Insights
Based on property information with market context.
This 2,363-square-foot triplex contains two one-bedroom apartments and one two-bedroom apartment across a well-maintained 1916 structure. Interior details include updated finishes, hardwood flooring in portions of the building, eat-in kitchens, fireplaces, original built-ins, pocket doors, and supplied kitchen appliances. The first-floor residence also includes 1.5 baths and direct access to the rear yard. A shared washer and dryer are positioned in the basement, while three off-street parking spaces provide one space for each apartment.
The offering includes the main parcel, an adjoining vacant lot, and a rear yard. The property is located in East Falls, within a five-minute walk of the Norristown Regional Rail line, with service to Center City taking approximately 15 minutes. Kelly Drive is four blocks away, and Fairmount Park is less than five minutes from the property. Zoning is RSA5.
The offering includes the main parcel, an adjoining vacant lot, and a rear yard. The property is located in East Falls, within a five-minute walk of the Norristown Regional Rail line, with service to Center City taking approximately 15 minutes. Kelly Drive is four blocks away, and Fairmount Park is less than five minutes from the property. Zoning is RSA5.
Key Highlights
- 2,363 SF triplex with two one‑bedroom units and one two‑bedroom unit
- Two adjacent parcels included, including an adjoining vacant lot and rear yard
- Three off‑street parking spaces, with one assigned to each apartment
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
$40,324
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
6.72%
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%
$806,480
$806.5K
Cap Rate 7%
$576,057
$576.1K
Cap Rate 9%
$448,044
$448.0K
Market Conditions
NOI Build-Up for 2,363 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
$61.0K $25.80/SF
− Vacancy
−$3.4K −$1.42/SF
EGI
$57.6K $24.38/SF
− OpEx
−$17.3K −$7.31/SF
NOI
$40.3K $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%
$806,480
Cap Rate 7%
$576,057
Cap Rate 9%
$448,044
Alternative Uses
Best Use
Multifamily LT 5
$576.1K
$504.1K – $672.1K
NOI $40,324 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$531.0K
$464.6K – $619.5K
NOI $37,169 @ 7.0% cap · market cap 6.20%
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
874
Businesses Nearby
Explore this area
Business Placement
Demographics for 19129, PA
11,437
Population
6,228
Households
1.8
Avg Household Size
35
Median Age
60%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
5,446
Density / Sq Mi
$77,225
Median Household Income
$58,576
Median Earnings
$1,471
Median Rent
$297,400
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 apartments feature varied layouts, natural light, individual parking, and access to shared basement laundry.
Where is this triplex located?
The property is located at 3408 Sunnyside Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,363 SF triplex with two one‑bedroom units and one two‑bedroom unit; Two adjacent parcels included, including an adjoining vacant lot and rear yard; Three off‑street parking spaces, with one assigned to each apartment
