Triplex with Updated
For Sale
$749,000
3618 SPRING GARDEN Street, Philadelphia, PA 19104
Multi-Family, PHILADELPHIA, PA
Property Size3,330 SF
Lot Size0.05 Acres
Price / SF$224.92
Days on Market327
Property Features for 3618 SPRING GARDEN Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement, Dining Room
Parking features
On Street
Interior features
Bathroom - Tub Shower, Crown Moldings, Combination Dining/Living, Dining Area, Wood Floors, Intercom
Appliances
Built-In Range, Built-In Microwave, Cooktop, Dishwasher, Disposal, ENERGY STAR Refrigerator, Intercom, Microwave
Subdivision
POWELTON VILLAGE
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
3,330 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
11745
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1920
Number of units
3
Building materials
Masonry
Architectural style
Colonial
Listing Agency:
Liberty Real Estate
(215) 625-4725
Listed By:
Shen Huang · License #RS293639
(215) 346-6888
Added: Oct 24, 2025
Changed: Sep 14
Last Checked: Sep 15 at 3:06AM
MLS# PAPH2548104
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-unit Colonial property was built in 1920 and contains 3,330 square feet on a 0.0474-acre lot. The masonry building includes updated kitchens in each unit, with upgraded cabinetry and countertops, along with wood flooring, crown moldings, combination dining and living areas, and intercom service. Kitchens are equipped with built-in ranges, cooktops, microwaves, dishwashers, disposals, and ENERGY STAR refrigerators. Central heating and central air conditioning serve the property, while parking is available on the street.
The property is located at 3618 Spring Garden Street in Philadelphia's 19104 ZIP code. Nearby destinations identified in the listing include Drexel University, the University of Pennsylvania, Fresh Grocer, Sabrina's Cafe, World Cafe Live, and Penn Presbyterian Medical Center. The sale is offered as-is.
The property is located at 3618 Spring Garden Street in Philadelphia's 19104 ZIP code. Nearby destinations identified in the listing include Drexel University, the University of Pennsylvania, Fresh Grocer, Sabrina's Cafe, World Cafe Live, and Penn Presbyterian Medical Center. The sale is offered as-is.
Key Highlights
- Three‑unit property with 3,330 square feet
- 0.0474‑acre lot in Philadelphia ZIP code 19104
- 1920 masonry Colonial construction
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
$56,826
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
7.59%
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%
$1,136,520
$1.1M
Cap Rate 7%
$811,800
$811.8K
Cap Rate 9%
$631,400
$631.4K
Market Conditions
NOI Build-Up for 3,330 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
$85.9K $25.80/SF
− Vacancy
−$4.7K −$1.42/SF
EGI
$81.2K $24.38/SF
− OpEx
−$24.4K −$7.31/SF
NOI
$56.8K $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%
$1,136,520
Cap Rate 7%
$811,800
Cap Rate 9%
$631,400
Alternative Uses
Best Use
Multifamily LT 5
$811.8K
$710.3K – $947.1K
NOI $56,826 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$748.3K
$654.7K – $873.0K
NOI $52,379 @ 7.0% cap · market cap 6.99%
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
Location Intelligence
Trade Area within ½ mile
4,577
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit masonry property with central heating, central air, and refreshed kitchen finishes throughout.
Where is this triplex located?
The property is located at 3618 SPRING GARDEN Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Three‑unit property with 3,330 square feet; 0.0474‑acre lot in Philadelphia ZIP code 19104; 1920 masonry Colonial construction
