High-Performing Triplex Near
3861 Fairmount Avenue Philadelphia, PA 19104
3861 Fairmount Avenue, Philadelphia, PA, 19104
$765,000
For Sale
$765,000
Luxury triplex near Drexel and UPenn, ideal for investors.
Property Size4,200 SF
Price / SF$182.14
Days on Market391
Property Features for 3861 Fairmount Avenue
General Information
- Standard status
- Active
- Size
- 4,200 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 2024
Listing Agency
KW Empower
(610) 368-9041
Listed by
Ben Hooson-Jones · License #RS341171
(610) 368-9041
Source
Compass
Added: Jun 21, 2025 Checked: Jul 16 at 8:29 am
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 KW Empower
Investment Insights
Based on property information with market context.
This triplex property offers three condo-style apartments. Unit 1 features 3 bedrooms and 3 bathrooms, along with a private back patio. Units 2 and 3 each include 2 bedrooms and 2 bathrooms, with Unit 3 providing exclusive access to a private rooftop deck. The apartments have open-concept living areas, upgraded kitchens, and expansive bedrooms with closet space and en-suite bathrooms. Each unit is individually metered for gas and electric and includes dedicated gas furnaces, water heaters, and in-unit washers and dryers. The property is located within walking distance of Drexel University and the University of Pennsylvania, near Penn Presbyterian Hospital, with access to public transportation. The surrounding neighborhood offers cafes, restaurants, bars, boutiques, and other local amenities along Lancaster Avenue. The property is suited for Drexel students, medical professionals, and university staff. The property size is 4200 square feet and is located in Philadelphia, PA 19104.
Key Highlights
- Prime location within walking distance of Drexel University and the University of Pennsylvania.
- High‑performing triplex with three luxury, condo‑style apartments.
- Each unit features stainless steel appliances, generous square footage, and stylish finishes.
Local Financial Insights For Apartment 5plus
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 | $127.5k | $30.36 |
| − Vacancy | −$7.4k | −$1.76 |
| EGI | $120.1k | $28.60 |
| − OpEx | −$54.1k | −$12.87 |
| NOI | $66.1k | $15.73 |
4,200 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$895.9K – $1.19M
NOI $71,673 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$943.8K
$825.8K – $1.10M
NOI $66,064 @ 7.0% cap · market cap 8.64%
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
Triplexes
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FAQs
What type of property is this?
Triplex - Luxury triplex near Drexel and UPenn, ideal for investors.
Where is this triplex located?
The property is located at 3861 Fairmount Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Prime location within walking distance of Drexel University and the University of Pennsylvania.; High‑performing triplex with three luxury, condo‑style apartments.; Each unit features stainless steel appliances, generous square footage, and stylish finishes.
