Turnkey Corner Triplex
3800 Spring Garden Street Philadelphia, PA 19104
For Sale
$638,000
Fully leased corner triplex with updated bathrooms, separate electric meters, and shared basement laundry.
Property Size2,499 SF
Price / SF$255.30
Days on Market321
Property Features for 3800 Spring Garden Street
General Information
- Standard status
- Active
- Size
- 2,499 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1920
Listing Agency:
COLDWELL BANKER REALTY
(609) 970-3075
Listed By:
MARGARET MCCAIN · License #RS363819
Source:
Compass
Added: Sep 8, 2025
Changed: Jul 22
Last Checked: Jul 24 at 3:21PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This turnkey corner triplex is fully leased and designed for straightforward, day-one income. Each unit features updated bathrooms, and the building includes separate electric meters for the units. Residents also share access to basement laundry, with basement mechanicals described as accessible for service.
The property is located in Philadelphia’s Powelton Village / University City area and is positioned near major University City employers and institutions, including Drexel University, the University of Pennsylvania, CHOP, and Presbyterian Hospital.
The tenant layout includes one one-bedroom, one-bath unit with a private side patio, plus two two-bedroom, one-bath units. The overall configuration supports a stabilized, occupied operating profile based on the current rent and expense information provided.
The property is located in Philadelphia’s Powelton Village / University City area and is positioned near major University City employers and institutions, including Drexel University, the University of Pennsylvania, CHOP, and Presbyterian Hospital.
The tenant layout includes one one-bedroom, one-bath unit with a private side patio, plus two two-bedroom, one-bath units. The overall configuration supports a stabilized, occupied operating profile based on the current rent and expense information provided.
Key Highlights
- Fully leased corner triplex with all units occupied
- Approx. 5%+ cap rate based on current income and expenses
- Separate electric meters for the building
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.5k | $25.80 |
| − Vacancy | −$3.6k | −$1.42 |
| EGI | $60.9k | $24.38 |
| − OpEx | −$18.3k | −$7.31 |
| NOI | $42.6k | $17.06 |
2,499 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$609.2K
$533.1K – $710.8K
NOI $42,645 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$561.5K
$491.4K – $655.1K
NOI $39,308 @ 7.0% cap · market cap 6.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Fully leased corner triplex with updated bathrooms, separate electric meters, and shared basement laundry.
Where is this triplex located?
The property is located at 3800 Spring Garden Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $638,000.
What are key features of this property?
This property features: Fully leased corner triplex with all units occupied; Approx. 5%+ cap rate based on current income and expenses; Separate electric meters for the building
