Turnkey Multifamily
3816 Spring Garden Street Philadelphia, PA 19104
For Sale
$549,000
Two fully occupied units offer updated interiors, including a private backyard and a private balcony.
Property Size2,072 SF
Price / SF$264.96
Days on Market429
Property Features for 3816 Spring Garden Street
General Information
- Standard status
- Active
- Size
- 2,072 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1920
Listing Agency:
Compass
(267) 205-1369
Listed By:
Reda Akbil · License #RS337002
(267) 205-1369
Source:
Compass
Added: May 23, 2025
Changed: Jul 22
Last Checked: Jul 24 at 12:44PM
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 Compass
Investment Insights
Based on property information with market context.
This turnkey multifamily duplex features two separately rented residences. Unit 1 is a 2-bedroom, 1-bath apartment with an updated kitchen and bathroom, plus exclusive access to a large private backyard. Unit 2 is a bi-level 3-bedroom, 2-bath home with open-concept living and dining areas that lead to a private balcony via sliding glass doors. The oversized primary bedroom is on the main floor, with two additional bedrooms and a full bath on the upper level. Original architectural details add character throughout.
Located in Philadelphia’s University City area near Drexel University, Penn, and major hospitals, the property is positioned in a consistently growing rental market. The listing notes consistent rental history with zero vacancy, with both units currently occupied.
Unit 1 is leased for $1,600 per month and Unit 2 is leased for $2,200 per month, providing an owner-occupant or investor straightforward live-in-and-rent option.
Located in Philadelphia’s University City area near Drexel University, Penn, and major hospitals, the property is positioned in a consistently growing rental market. The listing notes consistent rental history with zero vacancy, with both units currently occupied.
Unit 1 is leased for $1,600 per month and Unit 2 is leased for $2,200 per month, providing an owner-occupant or investor straightforward live-in-and-rent option.
Key Highlights
- 1920‑built multifamily with two fully occupied units
- Unit 1: 2 bed, 1 bath, currently rented for $1,600/month; updated kitchen and bathroom
- Unit 1 includes exclusive access to a large private backyard
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 | $53.5k | $25.80 |
| − Vacancy | −$2.9k | −$1.42 |
| EGI | $50.5k | $24.38 |
| − OpEx | −$15.2k | −$7.31 |
| NOI | $35.4k | $17.06 |
2,072 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$505.1K
$442.0K – $589.3K
NOI $35,358 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$465.6K
$407.4K – $543.2K
NOI $32,592 @ 7.0% cap · market cap 5.94%
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
Duplexes
FAQs
What type of property is this?
Duplex - Two fully occupied units offer updated interiors, including a private backyard and a private balcony.
Where is this duplex located?
The property is located at 3816 Spring Garden Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 1920‑built multifamily with two fully occupied units; Unit 1: 2 bed, 1 bath, currently rented for $1,600/month; updated kitchen and bathroom; Unit 1 includes exclusive access to a large private backyard
