Corner Triplex with Updated
For Sale
$545,000
3800 SPRING GARDEN STREET, Philadelphia, PA 19104
Three apartments feature updated bathrooms, shared laundry, and separate electric meters.
Property Size2,499 SF
Days on Market64
Property Features for 3800 SPRING GARDEN STREET
General Information
Standard status
Active
Size
2,499 SF
Property subtype
Triplex
Site & Location
Neighborhood
Saunders Park
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Cap Rate
6.35%
Taxes and HOA fees
Annual Taxes
$7,388
Amenities
shared basement laundry
private side patio
Building Details
Building Size
2,499 SF
Year Built
1920
Listing Agency:
Coldwell Banker Residential Brokerage - Princeton
Listed By:
Margaret McCain · License #RS363819
(609) 970-3075
Source:
Patmckennarealtors
Added: Aug 21
Changed: Oct 21
Last Checked: Oct 23 at 2:18PM
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 Residential Brokerage - Princeton
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Philadelphia triplex contains one one-bedroom, one-bath apartment with a private side patio and two two-bedroom, one-bath apartments. Each unit has an updated bathroom, while shared basement laundry, accessible mechanicals, and separate electric meters support day-to-day operations. One water heater was replaced in 2026, and the property is professionally managed.
Two apartments are leased, while the remaining unit is vacant and available for occupancy. The property is situated in Powelton Village near University City, Drexel University, the University of Pennsylvania, CHOP, and Penn Presbyterian Medical Center. Public transportation and Center City are also accessible from the property. The corner position brings additional natural light and a more open feel. An estimated 6.35% cap rate is based on current income and normalized expenses.
Two apartments are leased, while the remaining unit is vacant and available for occupancy. The property is situated in Powelton Village near University City, Drexel University, the University of Pennsylvania, CHOP, and Penn Presbyterian Medical Center. Public transportation and Center City are also accessible from the property. The corner position brings additional natural light and a more open feel. An estimated 6.35% cap rate is based on current income and normalized expenses.
Key Highlights
- Triplex with one 1‑bedroom and two 2‑bedroom apartments
- Two units leased; one unit vacant and ready for occupancy
- All three units feature updated bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,645
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$852,900
$852.9K
Cap Rate 7%
$609,214
$609.2K
Cap Rate 9%
$473,833
$473.8K
Market Conditions
NOI Build-Up for 2,499 SF
Gross rent
$64.5K $25.80/SF
− Vacancy
−$3.6K −$1.42/SF
EGI
$60.9K $24.38/SF
− OpEx
−$18.3K −$7.31/SF
NOI
$42.6K $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 Rate 5%
$852,900
Cap Rate 7%
$609,214
Cap Rate 9%
$473,833
Alternative Uses
Best Use
Multifamily LT 5
$609.2K
$533.1K – $710.8K
NOI $42,645 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$561.5K
$491.4K – $655.1K
NOI $39,308 @ 7.0% cap · market cap 7.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,686
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments feature updated bathrooms, shared laundry, and separate electric meters.
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 $545,000.
What are key features of this property?
This property features: Triplex with one 1‑bedroom and two 2‑bedroom apartments; Two units leased; one unit vacant and ready for occupancy; All three units feature updated bathrooms
