Turnkey Legal
468 East Walnut Lane Philadelphia, PA 19144
For Sale
$525,000
Pending
Three updated units with central air, separate utilities, and coin-operated laundry in the basement.
Property Size2,640 SF
Days on Market13
Property Features for 468 East Walnut Lane
General Information
- Standard status
- Pending
- Size
- 2,640 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1910
Listing Agency:
Keller Williams Realty Devon-Wayne
(610) 937-7122
Listed By:
Alexander Taggart Penn · License #RS352834
(610) 937-7122
Source:
Compass
Added: Jul 12
Changed: Jul 22
Last Checked: Jul 24 at 12:33PM
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 Keller Williams Realty Devon-Wayne
Investment Insights
Based on property information with market context.
This turnkey legal triplex features three well-maintained, updated units. The first-floor unit is a 1-bedroom, 1-bath apartment, while the second unit is an updated 2-bedroom, 1-bath apartment. The third unit is also updated with a 2-bedroom, 1-bath layout. Updates include new countertops and recessed lighting. Each unit is equipped with central air conditioning, separate heating systems, corresponding A/C condensers, and individual gas and electric meters for separated utility billing and easier management.
Tenants share a rear deck, and the basement includes coin-operated laundry along with additional tenant storage. The property is presented as ready to operate from day one.
Configured as three income-producing residences, this triplex is suited for an investor or an owner seeking rental income alongside an owner-occupied unit.
Tenants share a rear deck, and the basement includes coin-operated laundry along with additional tenant storage. The property is presented as ready to operate from day one.
Configured as three income-producing residences, this triplex is suited for an investor or an owner seeking rental income alongside an owner-occupied unit.
Key Highlights
- Legal triplex at 468 W. Walnut St built in 1910
- 3 updated units: 1BR/1BA on first floor and two 2BR/1BA units
- Each unit has central air, separate heating systems, A/C condensers, and individual gas/electric meters
Financial Insights For Multifamily LT 5
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 | $68.1k | $25.80 |
| − Vacancy | −$3.8k | −$1.42 |
| EGI | $64.4k | $24.38 |
| − OpEx | −$19.3k | −$7.31 |
| NOI | $45.1k | $17.06 |
2,640 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$643.6K
$563.1K – $750.9K
NOI $45,051 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$593.2K
$519.1K – $692.1K
NOI $41,526 @ 7.0% cap · market cap 7.91%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three updated units with central air, separate utilities, and coin-operated laundry in the basement.
Where is this triplex located?
The property is located at 468 East Walnut Lane Philadelphia, PA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Legal triplex at 468 W. Walnut St built in 1910; 3 updated units: 1BR/1BA on first floor and two 2BR/1BA units; Each unit has central air, separate heating systems, A/C condensers, and individual gas/electric meters
