Corner Duplex with Bonus
For Sale
$263,000
3945 Claridge St, Philadelphia, PA 19124
Two-unit residential property with separate utilities, shared laundry facilities, and a converted garage featuring a full bathroom.
Property Size1,400 SF
Price / SF$187.86
Days on Market87
Property Features for 3945 Claridge St
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
shared utility room and laundry area
common foyer entry
front cement patio
Building Details
Year Built
1965
Listing Agency:
Realty Mark Associates
Listed By:
Francisco Michaud · License #RS342767
(267) 250-8489
Source:
Bethsamberg
Added: Jul 28
Changed: Oct 8
Last Checked: Oct 7 at 1:51PM
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 Realty Mark Associates
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Investment Insights
Based on property information with market context.
This 1,400-square-foot duplex was built in 1965 and occupies a corner location. The property includes two residential units, separate utilities, a common foyer, and a shared utility and laundry area with a toilet and sink. The converted garage adds a bonus room and full bathroom. Each unit has its own heater, while three hot water heaters serve the property.
Interior features include living rooms, eat-in kitchens with gas ranges, stainless steel sinks, ceramic tile flooring, laminate counters, and vinyl windows. Exterior features include a front concrete patio, a small rear driveway, and street parking. The property is located at 3945 Claridge St in Philadelphia, PA 19124.
Interior features include living rooms, eat-in kitchens with gas ranges, stainless steel sinks, ceramic tile flooring, laminate counters, and vinyl windows. Exterior features include a front concrete patio, a small rear driveway, and street parking. The property is located at 3945 Claridge St in Philadelphia, PA 19124.
Key Highlights
- 1,400 SF duplex on a corner property, built in 1965
- Two residential units with separate utilities
- Converted garage provides a bonus room and full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,040
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,800
$360.8K
Cap Rate 7%
$257,714
$257.7K
Cap Rate 9%
$200,444
$200.4K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$27.7K $19.80/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$25.8K $18.41/SF
− OpEx
−$7.7K −$5.52/SF
NOI
$18.0K $12.89/SF
Area
ZIP 19124
Vacancy
7.03%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,800
Cap Rate 7%
$257,714
Cap Rate 9%
$200,444
Alternative Uses
Best Use
Multifamily LT 5
$257.7K
$225.5K – $300.7K
NOI $18,040 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$237.1K
$207.5K – $276.7K
NOI $16,599 @ 7.0% cap · market cap 6.31%
Theoretical Best
Specialty Retail
$805.3K
$704.6K – $939.5K
NOI $56,371 @ 7.0% cap · market cap 21.43%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,205
Businesses Nearby
Explore this area
Business Placement
Demographics for 19124, PA
68,766
Population
27,014
Households
2.5
Avg Household Size
33
Median Age
15%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
13,484
Density / Sq Mi
$46,100
Median Household Income
$35,364
Median Earnings
$1,063
Median Rent
$155,000
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?
Duplex - Two-unit residential property with separate utilities, shared laundry facilities, and a converted garage featuring a full bathroom.
Where is this duplex located?
The property is located at 3945 Claridge St Philadelphia, PA.
What is the asking price?
The asking price for this property is $263,000.
What are key features of this property?
This property features: 1,400 SF duplex on a corner property, built in 1965; Two residential units with separate utilities; Converted garage provides a bonus room and full bathroom
