Quadplex with Private Rooftop
3817 WALLACE Street Philadelphia, PA 19104
3817 WALLACE Street, Philadelphia, PA, 19104
$869,000
For Sale
$869,000
MULTI_FAMILY - Contemporary - PHILADELPHIA, PA
Property Size4,021 SF
Lot Size0.03 Acres
Price / SF$216.12
Days on Market69
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 Agency
HomeSmart First Advantage Realty
(856) 363-3000
498 Kings Highway, CHERRY HILL, PA
Listed by
Gazi Ataseven · License #RM426020
(267) 774-6886
Added: May 13 Checked: Jul 20 at 3:06 am
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.
Investment Insights
Based on property information with market context.
Built in 2020, this four-unit quadplex totals approximately 4,021 square feet and features a contemporary layout designed for modern residential living. The unit mix includes two 2-bedroom, 2-bath apartments and two 3-bedroom, 2-bath apartments. Unit 4 stands out with a private rooftop terrace. Finishes and systems are modern throughout, including contemporary kitchens with quartz countertops and stainless steel appliances, along with energy-efficient, lower-maintenance construction.
Located near University of Pennsylvania, Drexel University, CHOP, Penn Presbyterian Medical Center, 30th Street Station, and public transportation, the property places residents within reach of major employment centers including Center City. The listing also notes approximately five years remaining on Philadelphia’s 10-year tax abatement, which may be relevant to buyers evaluating post-purchase carrying costs.
For investors, the current setup provides three units already leased and one additional apartment (Unit 1) being shown, supporting an in-place income stream while maintaining lease-up optionality. With two 2-bedroom and two 3-bedroom configurations, the property offers a tenant mix aligned with households seeking additional space, while the remaining tax-abatement period and newer construction can help reduce operational friction compared with older multifamily stock.
Located near University of Pennsylvania, Drexel University, CHOP, Penn Presbyterian Medical Center, 30th Street Station, and public transportation, the property places residents within reach of major employment centers including Center City. The listing also notes approximately five years remaining on Philadelphia’s 10-year tax abatement, which may be relevant to buyers evaluating post-purchase carrying costs.
For investors, the current setup provides three units already leased and one additional apartment (Unit 1) being shown, supporting an in-place income stream while maintaining lease-up optionality. With two 2-bedroom and two 3-bedroom configurations, the property offers a tenant mix aligned with households seeking additional space, while the remaining tax-abatement period and newer construction can help reduce operational friction compared with older multifamily stock.
Key Highlights
- Four‑unit multifamily built in 2020 with approximately 4,021 SF in University City, Philadelphia
- Rent roll mix: 2 units with 2 bed/2 bath and 2 units with 3 bed/2 bath
- Projected gross annual income of approximately $82,800 and projected gross monthly income of approximately $6,900
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Quadplex - Newer-built 4-unit quadplex with three leased apartments and a private rooftop terrace for one unit.
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: Four‑unit multifamily built in 2020 with approximately 4,021 SF in University City, Philadelphia; Rent roll mix: 2 units with 2 bed/2 bath and 2 units with 3 bed/2 bath; Projected gross annual income of approximately $82,800 and projected gross monthly income of approximately $6,900
