Three-Unit Brick
New
For Sale
$329,000
453 E INDIANA Avenue, Philadelphia, PA 19134
Multi-Family, PHILADELPHIA, PA
Property Size1,120 SF
Lot Size0.02 Acres
Price / SF$293.75
Days on Market3
Property Features for 453 E INDIANA Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
On Street
Subdivision
KENSINGTON
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Special listing conditions
In Foreclosure
Standard status
Active
Size
1,120 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
1198
Utilities
Heating system
Baseboard, Electric (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1920
Number of units
3
Building materials
Brick
Architectural style
Other
Listing Agency:
SJI Jackson Realty, LLC
(856) 662-6565
Listed By:
Nicole Martorano · License #RS351720
(856) 718-4372
Added: Sep 30
Last Checked: Oct 2 at 6:06AM
MLS# PAPH2675058
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 brick triplex contains three apartments: one with two bedrooms and one bathroom, plus two with one bedroom and one bathroom each. The 1,120-square-foot property was built in 1920 and has laminate flooring and modern finishes throughout. Heating is provided by electric baseboard, cooling by window units, and parking is on the street.
The first- and second-floor apartments are tenant-occupied. The third-floor one-bedroom apartment is vacant.
The first- and second-floor apartments are tenant-occupied. The third-floor one-bedroom apartment is vacant.
Key Highlights
- Three residential units: one two‑bedroom, one‑bath apartment and two one‑bedroom, one‑bath apartments
- 1,120 square feet on a 0.0177‑acre lot
- Third‑floor one‑bedroom apartment is vacant; first- and second‑floor units are tenant‑occupied
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
$19,113
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
5.81%
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%
$382,260
$382.3K
Cap Rate 7%
$273,043
$273.0K
Cap Rate 9%
$212,367
$212.4K
Market Conditions
NOI Build-Up for 1,120 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
$28.9K $25.80/SF
− Vacancy
−$1.6K −$1.42/SF
EGI
$27.3K $24.38/SF
− OpEx
−$8.2K −$7.31/SF
NOI
$19.1K $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%
$382,260
Cap Rate 7%
$273,043
Cap Rate 9%
$212,367
Alternative Uses
Best Use
Multifamily LT 5
$273.0K
$238.9K – $318.6K
NOI $19,113 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$251.7K
$220.2K – $293.6K
NOI $17,617 @ 7.0% cap · market cap 5.35%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,440
Businesses Nearby
Explore this area
Business Placement
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - One apartment is vacant, while the other two are occupied by tenants.
Where is this triplex located?
The property is located at 453 E INDIANA Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Three residential units: one two‑bedroom, one‑bath apartment and two one‑bedroom, one‑bath apartments; 1,120 square feet on a 0.0177‑acre lot; Third‑floor one‑bedroom apartment is vacant; first- and second‑floor units are tenant‑occupied
