Contemporary 4-Unit
New
For Sale
$975,000
3615 MELON Street, Philadelphia, PA 19104
Multi-Family, PHILADELPHIA, PA
Property Size4,844 SF
Lot Size0.04 Acres
Price / SF$201.28
Days on Market7
Property Features for 3615 MELON Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Subdivision
MANTUA
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
4,844 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
1445
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2023
Number of units
4
Building materials
Concrete, Brick, Stucco, Vinyl Siding
Architectural style
Contemporary
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
Denise A Frazier · License #AB067937
(215) 421-3362
Added: Oct 7
Last Checked: Oct 13 at 5:06PM
MLS# PAPH2678346
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.
Completed in 2023, this contemporary quadplex contains four residential units within 4,844 square feet. The building includes a basement and uses concrete, brick, stucco, and vinyl siding in its construction. Forced-air heating and central air conditioning serve the property.
The 0.0364-acre property is in Philadelphia, with access to public transportation, neighborhood amenities, major roadways, and Center City Philadelphia.
The 0.0364-acre property is in Philadelphia, with access to public transportation, neighborhood amenities, major roadways, and Center City Philadelphia.
Key Highlights
- Four residential units in a 4,844‑square‑foot building
- Built in 2023
- 0.0364‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,662
Cap Rate
8.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,653,240
$1.7M
Cap Rate 7%
$1,180,886
$1.2M
Cap Rate 9%
$918,467
$918.5K
Market Conditions
NOI Build-Up for 4,844 SF
Gross rent
$125.0K $25.80/SF
− Vacancy
−$6.9K −$1.42/SF
EGI
$118.1K $24.38/SF
− OpEx
−$35.4K −$7.31/SF
NOI
$82.7K $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 Rate 5%
$1,653,240
Cap Rate 7%
$1,180,886
Cap Rate 9%
$918,467
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.03M – $1.38M
NOI $82,662 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$1.09M
$952.4K – $1.27M
NOI $76,194 @ 7.0% cap · market cap 7.81%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,206
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units feature contemporary layouts, forced-air heating, and central air conditioning.
Where is this quadplex located?
The property is located at 3615 MELON Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Four residential units in a 4,844‑square‑foot building; Built in 2023; 0.0364‑acre lot
