Modern Quadruplex in University
3817 WALLACE Street, Philadelphia, PA 19104
MULTI_FAMILY - Contemporary - PHILADELPHIA, PA
Property size:
4,021 SFLot size:
0.03 AcresPrice / SF:
$216/SF- Added:
- May 13, 2026
- Days on Market:
- 22
- Last Refresh:
- Jun 3 at 6:06 am
Property Features for 3817 WALLACE Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Standard status
- Active
- Size
- 4,021 SF
- Lot size
- 0.03 Acres
Taxes and HOA fees
- Tax Annual Amount
- 1505
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 2020
- Number of units
- 4
- Building materials
- Brick
- Architectural style
- Contemporary
Listing agent Gazi Ataseven License #RM426020 (267) 774-6886
Listing office HomeSmart First Advantage Realty 498 Kings Highway, CHERRY HILL, PA (856) 363-3000
Listing date May 13, 2026
MLS# PAPH2619704
Listing URL
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.
HighLights
- Income‑producing quadruplex with immediate cash flow from two rented units ($1,700/month and $2,100/month).
- Located in the highly desirable University City area, near UPenn, Drexel, and major employment centers.
- Approximately 5 years remaining on a 10‑year tax abatement.
- New construction (built in 2020) with contemporary finishes and energy‑efficient systems.
- Unit mix includes two 2‑bedroom/2‑bathroom units and two 3‑bedroom/2‑bathroom units.
- Unit #4 features private rooftop access, a highly desirable amenity.
Overview
Located in the University City area, this 3-year-old new construction quadruplex at 3817 Wallace Street is an income-producing multi-family property. The building contains four units. Units #1 and #2 each feature 2 bedrooms and 2 full bathrooms, while Units #3 and #4 each feature 3 bedrooms and 2 full bathrooms. Unit #4 includes private rooftop access. The property features contemporary finishes, open-concept layouts, and energy-efficient systems. Two units are currently rented: Unit #2 for $1,700 per month, and Unit #4 for $2,100 per month. Units #1 and #3 are in the process of being leased. The property is located minutes from UPenn, Drexel University, Penn Presbyterian Hospital, public transportation, and major employment centers. Approximately 5 years remain on the 10-year tax abatement. The property size is 4021 square feet and the lot size is 0.0331 acres.
Local 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 | $103.7k | $25.80 |
| − Vacancy | −$5.7k | −$1.42 |
| EGI | $98.0k | $24.38 |
| − OpEx | −$29.4k | −$7.31 |
| NOI | $68.6k | $17.06 |
4,021 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$980.3K
$857.7K – $1.14M
NOI $68,618 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$903.5K
$790.6K – $1.05M
NOI $63,248 @ 7.0% cap · market cap 7.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.19851
- Latitude
- 39.96469
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Income-producing, new construction quadplex near UPenn and Drexel University.
Where is this quadplex located?
The property is located at 3817 WALLACE Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Income‑producing quadruplex with immediate cash flow from two rented units ($1,700/month and $2,100/month).; Located in the highly desirable University City area, near UPenn, Drexel, and major employment centers.; Approximately 5 years remaining on a 10‑year tax abatement.
