Legally Zoned Duplex with Central
For Sale
$250,000
3818 N PARK Avenue, Philadelphia, PA 19140
MULTI_FAMILY - PHILADELPHIA, PA
Property Size1,206 SF
Lot Size0.03 Acres
Price / SF$207.30
Days on Market48
Property Features for 3818 N PARK Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,206 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
334
Utilities
Heating system
Central, Heat Pump (Heating)
Cooling system
Ductless, Central Air
Building Details
Year built
1936
Number of units
1
Building materials
Masonry
Listing Agency:
Springer Realty Group
(484) 498-4000
Listed By:
Rodney Griffin II · License #RS343536
(302) 388-5634
Added: Jun 25
Changed: Jul 13
Last Checked: Aug 11 at 6:06PM
MLS# PAPH2636336
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 legally zoned duplex is configured with a 2-bedroom unit on the upper level and a 1-bedroom unit on the first floor. Each unit includes its own washer and dryer, and both units have central air for year-round comfort. The offering includes the materials a buyer typically needs to take over the operation, with lead certificates, rental licenses, and existing leases to be provided prior to closing.
The property is located in Philadelphia, PA 19140. The remarks indicate that there are multiple properties included in the offering, with the units described as being one block away from each other. Showings are restricted to serious buyers.
For tenants and owners looking for a straightforward owner-managed or investor-ready residential income setup, this duplex provides separate 1BR and 2BR living layouts along with in-unit laundry and central air. With rental licensing, lead certificates, and current leases scheduled to be delivered before closing, a buyer can move toward maintaining occupancy and operations with less administrative lead time after closing.
The property is located in Philadelphia, PA 19140. The remarks indicate that there are multiple properties included in the offering, with the units described as being one block away from each other. Showings are restricted to serious buyers.
For tenants and owners looking for a straightforward owner-managed or investor-ready residential income setup, this duplex provides separate 1BR and 2BR living layouts along with in-unit laundry and central air. With rental licensing, lead certificates, and current leases scheduled to be delivered before closing, a buyer can move toward maintaining occupancy and operations with less administrative lead time after closing.
Key Highlights
- Legally zoned duplex with two properties offered together: 3818 N Park and 2 br upstairs/1 br first‑floor unit at the first property.
- Units include in‑unit W/D in each unit and central air with ductless and central air cooling.
- Heating includes central heating and heat pump (heating).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,580
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$411,600
$411.6K
Cap Rate 7%
$294,000
$294.0K
Cap Rate 9%
$228,667
$228.7K
Market Conditions
NOI Build-Up for 1,206 SF
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.
Gross rent
$31.1K $25.80/SF
− Vacancy
−$1.7K −$1.42/SF
EGI
$29.4K $24.38/SF
− OpEx
−$8.8K −$7.31/SF
NOI
$20.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$411,600
Cap Rate 7%
$294,000
Cap Rate 9%
$228,667
Alternative Uses
Best Use
Multifamily LT 5
$294.0K
$257.3K – $343.0K
NOI $20,580 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$271.0K
$237.1K – $316.2K
NOI $18,970 @ 7.0% cap · market cap 7.59%
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
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,232
Businesses Nearby
Explore this area
Business Placement
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
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?
Duplex - Duplex for sale with in-unit laundry and central air, with lead certs, rental licenses, and leases provided before closing.
Where is this duplex located?
The property is located at 3818 N PARK Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Legally zoned duplex with two properties offered together: 3818 N Park and 2 br upstairs/1 br first‑floor unit at the first property.; Units include in‑unit W/D in each unit and central air with ductless and central air cooling.; Heating includes central heating and heat pump (heating).
