Leased Triplex in Powelton
For Sale
$545,000
3800 SPRING GARDEN Street, Philadelphia, PA 19104
MULTI_FAMILY - PHILADELPHIA, PA
Property Size2,499 SF
Lot Size0.02 Acres
Price / SF$218.09
Days on Market147
Property Features for 3800 SPRING GARDEN Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Subdivision
POWELTON VILLAGE
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,499 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
7298
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1920
Number of units
3
Building materials
Masonry
Listing Agency:
Coldwell Banker Residential Brokerage - Princeton · Coldwell Banker Real Estate
(609) 921-1411
Listed By:
Margaret McCain · License #RS363819
(609) 970-3075
Added: Mar 9
Changed: Jun 9
Last Checked: Aug 2 at 8:06PM
MLS# PAPH2587784
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 fully leased corner triplex is located in the desirable Powelton Village, adjacent to University City. The location benefits from proximity to Drexel University, University of Pennsylvania, Children's Hospital of Philadelphia (CHOP), and Penn Presbyterian Medical Center. The property generates $46,200 in annual gross rental income, with all units currently occupied under existing leases. The unit mix includes one 1-bedroom, 1-bath apartment with a private side patio, and two 2-bedroom, 1-bath apartments. All three units feature updated bathrooms. The property includes separate electric meters, shared basement laundry facilities, accessible mechanicals, and water heaters replaced in 2026. The corner positioning provides natural light. The property is a low-maintenance investment. The lot size is 0.0213 acres and the property size is 2499 square feet. Convenient access to public transportation, Center City, dining, shopping, and major hospitals enhances tenant appeal. This property is located in Philadelphia, PA 19104.
Key Highlights
- Fully leased triplex generating $46,200 annual gross rental income.
- Prime corner location in highly desirable Powelton Village, adjacent to University City.
- Strong rental demand driven by proximity to Drexel, UPenn, CHOP, and Penn Presbyterian.
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 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.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully leased triplex near University City, generating $46,200 annually.
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: Fully leased triplex generating $46,200 annual gross rental income.; Prime corner location in highly desirable Powelton Village, adjacent to University City.; Strong rental demand driven by proximity to Drexel, UPenn, CHOP, and Penn Presbyterian.
