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Modern Triplex Near Drexel University

3424 Wallace Street Philadelphia, PA 19104

3424 Wallace Street, Philadelphia, PA, 19104

$650,000

For Sale

$650,000

Fully leased triplex near Drexel University with modern amenities.

Property Size3,672 SF

Price / SF$177.02

AddedApr 11

Days on Market96

Last RefreshJul 5 at 11:07 am

Property Features for 3424 Wallace Street

General Information

Standard status: Active
Size: 3,672 SF
Property subtype: Multi-Family / Fee Simple

Building Details

Year Built: 2017

Listing office KW Empower

Listing date Apr 11, 2026

Source Compass

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 KW Empower

Investment Insights

Based on property information with market context.

This fully leased triplex is located within walking distance of Drexel University. Constructed in 2018, this property features contemporary design. It consists of three residential units: two 2-bedroom, 2-bathroom apartments and one 4-bedroom, 4-bathroom unit. The second-floor apartment includes a private balcony. The third-floor residence features a rooftop deck. The property features laminate hardwood flooring, modern LED lighting, and in-unit laundry. Each kitchen is equipped with stainless steel appliances, including refrigerators, dishwashers, built-in microwaves, and garbage disposals, shaker-style cabinetry and quartz countertops. The bathrooms feature designer tile flooring and tiled showers. Every bedroom includes oversized closets and private en-suite bathrooms. The property is located in Philadelphia, MLS Area 19104. The school district is The School District of Philadelphia. The property size is 3,672 square feet.

Key Highlights

Fully leased triplex providing immediate income.
Prime location within walking distance of Drexel University.
Constructed in 2018 with modern design and upscale finishes.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$111.5k	$30.36
− Vacancy	−$6.5k	−$1.76
EGI	$105.0k	$28.60
− OpEx	−$47.3k	−$12.87
NOI	$57.8k	$15.73

3,672 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%

Alternative Uses

Best Use

Multifamily LT 5

$895.2K

$783.3K – $1.04M (±1% cap)

NOI $62,662 @ 7.0% cap · market cap 9.64%

Second Best

Apartment 5plus

$825.1K

$722.0K – $962.7K (±1% cap)

NOI $57,759 @ 7.0% cap · market cap 8.89%

Theoretical Best

—

same as Best Use

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

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For sale
Triplexes
PA
Philadelphia
19104
3424 Wallace Street

What type of property is this?

Triplex - Fully leased triplex near Drexel University with modern amenities.

Where is this triplex located?

The property is located at 3424 Wallace Street Philadelphia, PA.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: Fully leased triplex providing immediate income.; Prime location within walking distance of Drexel University.; Constructed in 2018 with modern design and upscale finishes.