6-Unit Apartment
For Sale
$725,000
3606 POWELTON AVENUE, Philadelphia, PA 19104
Three-story rental property with current sprinkler and fire alarm certifications.
Property Size3,150 SF
Lot Size0.07 Acres
Price / SF$230.16
Days on Market12
Property Features for 3606 POWELTON AVENUE
General Information
Standard status
Active
Size
3,150 SF
Lot size
0.07 Acres
Property subtype
Commercial
Additional Details
Sprinkler System
Yes
Multifamily Units
6
Building Details
Year Built
1920
Stories
3
Listing Agency:
Compass Pennsylvania, LLC
(610) 389-1482
Listed By:
Thomas S Dilsheimer · License #RS222491L
(610) 389-1482
Source:
Cummingsrealtors
Added: Jul 30
Changed: Aug 9
Last Checked: Aug 9 at 5:03AM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
This three-story apartment building contains 6 units within approximately 3,150 square feet of improvement area on a 3,000-square-foot lot. Constructed in 1920, the property has operated as licensed rental housing and includes current sprinkler and fire alarm certifications.
The building is located at 3606 Powelton Avenue in Philadelphia’s Powelton Village, near Drexel University’s main campus. The site provides 25 feet of frontage, with the property positioned within an established academic rental corridor.
The building is located at 3606 Powelton Avenue in Philadelphia’s Powelton Village, near Drexel University’s main campus. The site provides 25 feet of frontage, with the property positioned within an established academic rental corridor.
Key Highlights
- 6‑unit apartment building
- Approximately 3,150 square feet of improvement area
- 3,000‑square‑foot lot with 25 feet of frontage
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
$49,548
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
6.83%
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%
$990,960
$991.0K
Cap Rate 7%
$707,829
$707.8K
Cap Rate 9%
$550,533
$550.5K
Market Conditions
NOI Build-Up for 3,150 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
$95.6K $30.36/SF
− Vacancy
−$5.5K −$1.76/SF
EGI
$90.1K $28.60/SF
− OpEx
−$40.5K −$12.87/SF
NOI
$49.5K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$990,960
Cap Rate 7%
$707,829
Cap Rate 9%
$550,533
Alternative Uses
Best Use
Apartment 5plus
$707.8K
$619.4K – $825.8K
NOI $49,548 @ 7.0% cap · market cap 6.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$767.9K
$671.9K – $895.9K
NOI $53,754 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
5,231
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-story rental property with current sprinkler and fire alarm certifications.
Where is this apartment building located?
The property is located at 3606 POWELTON AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 6‑unit apartment building; Approximately 3,150 square feet of improvement area; 3,000‑square‑foot lot with 25 feet of frontage
