Newer-Construction Four-Unit
For Sale
$865,000
3817 WALLACE ST, Philadelphia, PA 19104
Contemporary multifamily property with modern finishes, energy-efficient systems, and a private rooftop terrace.
Property Size4,021 SF
Price / SF$215.12
Days on Market54
Property Features for 3817 WALLACE ST
General Information
Standard status
Active
Size
4,021 SF
Property subtype
Multi-family
Site & Location
Neighborhood
West Philadelphia
Units
Unit Mix
2 x 2BR/2BA, 2 x 3BR/2BA
Multifamily Units
4
Building Details
Year Built
2020
Listing Agency:
HomeSmart First Advantage Realty
(856) 363-3000
Listed By:
Gazi Ataseven · License #RM426020
(267) 774-6886
Source:
Graves
Added: Sep 7
Changed: Oct 26
Last Checked: Oct 28 at 8:45AM
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 HomeSmart First Advantage Realty
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Investment Insights
Based on property information with market context.
Built in 2020, 3817 Wallace Street is a four-unit multifamily property containing approximately 4,021 square feet. The unit mix includes two two-bedroom, two-bath residences and two three-bedroom, two-bath residences. One of the three-bedroom units includes a private rooftop terrace. Interior features include contemporary kitchens, quartz countertops, stainless steel appliances, and energy-efficient systems.
The property is located in Philadelphia's University City neighborhood near the University of Pennsylvania, Drexel University, CHOP, Penn Presbyterian Medical Center, 30th Street Station, public transportation, and Center City employment centers. Approximately five years remain on Philadelphia's 10-Year Tax Abatement, adding a documented tax benefit to the newer-construction asset.
The property is located in Philadelphia's University City neighborhood near the University of Pennsylvania, Drexel University, CHOP, Penn Presbyterian Medical Center, 30th Street Station, public transportation, and Center City employment centers. Approximately five years remain on Philadelphia's 10-Year Tax Abatement, adding a documented tax benefit to the newer-construction asset.
Key Highlights
- Four‑unit multifamily property built in 2020
- Approximately 4,021 square feet
- Unit mix includes two 2‑bedroom/2‑bath and two 3‑bedroom/2‑bath residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,618
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,372,360
$1.4M
Cap Rate 7%
$980,257
$980.3K
Cap Rate 9%
$762,422
$762.4K
Market Conditions
NOI Build-Up for 4,021 SF
Gross rent
$103.7K $25.80/SF
− Vacancy
−$5.7K −$1.42/SF
EGI
$98.0K $24.38/SF
− OpEx
−$29.4K −$7.31/SF
NOI
$68.6K $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%
$1,372,360
Cap Rate 7%
$980,257
Cap Rate 9%
$762,422
Alternative Uses
Best Use
Multifamily LT 5
$980.3K
$857.7K – $1.14M
NOI $68,618 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$903.5K
$790.6K – $1.05M
NOI $63,248 @ 7.0% cap · market cap 7.31%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,325
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Contemporary multifamily property with modern finishes, energy-efficient systems, and a private rooftop terrace.
Where is this quadplex located?
The property is located at 3817 WALLACE ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Four‑unit multifamily property built in 2020; Approximately 4,021 square feet; Unit mix includes two 2‑bedroom/2‑bath and two 3‑bedroom/2‑bath residences
