Three-Unit Residential
New
For Sale
$515,000
3514 W ALLEGHENY Avenue, Philadelphia, PA 19132
Multi-Family, PHILADELPHIA, PA
Property Size2,025 SF
Lot Size0.05 Acres
Price / SF$254.32
Days on Market3
Property Features for 3514 W ALLEGHENY Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Appliances
Intercom, Washer/Dryer Hookups Only
Subdivision
EAST FALLS
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,025 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4449
Utilities
Cooling system
Ductless
Amenities
washer/dryer hookups
backyard
Building Details
Year built
1930
Number of units
3
Building materials
Masonry, Stone
Listing Agency:
Mallin Panchelli Nadel Realty Inc
(215) 413-4900
Listed By:
Alexandra Charen · License #RS351522
(215) 584-2672
Added: Sep 25
Last Checked: Sep 27 at 1:06PM
MLS# PAPH2674552
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 three-story masonry triplex contains 2,025 square feet across three apartments: one with two bedrooms and one bathroom, plus two with one bedroom and one bathroom each. The 0.0533-acre property includes a backyard, and every apartment has washer and dryer connections. Ductless cooling is installed. Redevelopment is complete, the building has a Certificate of Occupancy and three rental licenses, and it has not been occupied since the work was finished.
The property is near Ridge Avenue, with access to Kelly Drive and I-76. Nearby destinations include Fairmount Park, Thomas Jefferson University, Main Street Manayunk, and East Falls restaurants and retailers. The stated Walk Score is 82.
The property is near Ridge Avenue, with access to Kelly Drive and I-76. Nearby destinations include Fairmount Park, Thomas Jefferson University, Main Street Manayunk, and East Falls restaurants and retailers. The stated Walk Score is 82.
Key Highlights
- Three apartments in 2,025 square feet: one 2‑bedroom/1‑bath unit and two 1‑bedroom/1‑bath units
- 0.0533‑acre parcel with a backyard
- Washer and dryer hookups in each apartment; ductless cooling
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
$34,556
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
6.71%
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%
$691,120
$691.1K
Cap Rate 7%
$493,657
$493.7K
Cap Rate 9%
$383,956
$384.0K
Market Conditions
NOI Build-Up for 2,025 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
$52.2K $25.80/SF
− Vacancy
−$2.9K −$1.42/SF
EGI
$49.4K $24.38/SF
− OpEx
−$14.8K −$7.31/SF
NOI
$34.6K $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%
$691,120
Cap Rate 7%
$493,657
Cap Rate 9%
$383,956
Alternative Uses
Best Use
Multifamily LT 5
$493.7K
$432.0K – $575.9K
NOI $34,556 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$455.0K
$398.2K – $530.9K
NOI $31,852 @ 7.0% cap · market cap 6.18%
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
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
946
Businesses Nearby
Explore this area
Business Placement
Demographics for 19132, PA
33,926
Population
17,402
Households
1.9
Avg Household Size
37
Median Age
13%
College-Educated
83%
High-School Grad
2.2 sq mi
ZIP Area
15,421
Density / Sq Mi
$30,974
Median Household Income
$30,300
Median Earnings
$1,055
Median Rent
$73,000
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 - Vacant delivery lets a buyer choose occupants or live in one apartment while leasing the others.
Where is this triplex located?
The property is located at 3514 W ALLEGHENY Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Three apartments in 2,025 square feet: one 2‑bedroom/1‑bath unit and two 1‑bedroom/1‑bath units; 0.0533‑acre parcel with a backyard; Washer and dryer hookups in each apartment; ductless cooling
