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Triplex with Ground-Floor Commercial Space
For Sale
$759,000
Pending

413 Fairmount Avenue, Philadelphia, PA 19123

Well-maintained triplex featuring a long-term commercial tenant plus two-bedroom, two-bath residences with separately metered utilities.

Property Size4,296 SF
Days on Market94

Property Features for 413 Fairmount Avenue

General Information

Standard status Pending
Size 4,296 SF
Property subtype Mixed Use

Financials

Cap Rate 6%
Business Included Yes

Additional Details

Highway Access Yes
Multifamily Units 3

Building Details

Year Built 1936
Listing Agency: BHHS Fox & Roach At the Harper, Rittenhouse Square
Listed By: Marc Hammarberg · License #AB067991
Source: Xome
Added: Apr 29 Changed: Jul 10 Last Checked: Jun 14 at 1:46AM

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 BHHS Fox & Roach At the Harper, Rittenhouse Square

Investment Insights

Based on property information with market context.

Located at 413 Fairmount Avenue in Philadelphia, this well-maintained triplex combines ground-floor commercial income with highly desirable residential layouts. The ground level is occupied by a long-term commercial tenant and includes access to both the basement and a private rear yard, along with a separate office space at the rear to add flexibility to the footprint. The second and third floors each offer thoughtfully arranged two-bedroom, two-bath apartments, with bedrooms positioned on opposite sides for privacy and balance and a kitchen, open-concept living, and dining area anchored at the center of the home.

Each residence is designed for everyday comfort and easy living. Kitchens include stainless steel GE appliances, abundant cabinetry, granite countertops, and a center island, while natural light supports a clean, functional flow throughout. Washer and dryers are located in discreet hallway closets in each unit, and all utilities, including gas and electricity, are separately metered. The third-floor home also features a private roof deck.

For investors or owner-occupants, the property is presented as an income-producing opportunity with a stated 6% cap rate, backed by a long-term commercial tenant on the ground floor. The home is described as being in the heart of Northern Liberties with easy access to major highways, and is listed as only blocks from The Piazza, La Maude, The Random Tea Room, and the surrounding offerings of Old City and Fishtown.

Key Highlights

  • Well‑maintained triplex with a long‑term ground‑floor commercial tenant and two 2‑bedroom, 2‑bath residences on the 2nd and 3rd floors
  • Separate utility metering for gas and electricity across units
  • Each residence includes a kitchen with stainless steel GE appliances, granite countertops, cabinetry, and a center island

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 $130.4k $30.36
− Vacancy −$7.6k −$1.76
EGI $122.9k $28.60
− OpEx −$55.3k −$12.87
NOI $67.6k $15.73
4,296 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%

Alternative Uses

Best Use
Multifamily LT 5
$1.05M
$916.4K – $1.22M (±1% cap)
NOI $73,311 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$965.3K
$844.7K – $1.13M (±1% cap)
NOI $67,574 @ 7.0% cap · market cap 8.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Empirical Pediatric Therapy Corporate Office

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Plumbing Service Tanning Salon Clothing & Fashion Store Supermarket Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3
Residential units
Turnkey business
Opportunity
Yes
Highway access

Location Intelligence

Trade Area within ½ mile

3,999
Businesses Nearby

Demographics for 19123, PA

18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022
4.6% 2023
5.3% 2024
5.6% 2025
Rey
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Frequently Asked Questions

What type of property is this?
Triplex - Well-maintained triplex featuring a long-term commercial tenant plus two-bedroom, two-bath residences with separately metered utilities.
Where is this triplex located?
The property is located at 413 Fairmount Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $759,000.
What are key features of this property?
This property features: Well‑maintained triplex with a long‑term ground‑floor commercial tenant and two 2‑bedroom, 2‑bath residences on the 2nd and 3rd floors; Separate utility metering for gas and electricity across units; Each residence includes a kitchen with stainless steel GE appliances, granite countertops, cabinetry, and a center island
More about this property
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