Fully Occupied Triplex Income
For Sale
$540,000
4700 CEDAR AVENUE, Philadelphia, PA 19143
A fully occupied triplex with one one-bedroom, one studio, and one three-bedroom unit plus a full basement.
Property Size2,728 SF
Price / SF$197.95
Days on Market81
Property Features for 4700 CEDAR AVENUE
General Information
Standard status
Active
Size
2,728 SF
Property subtype
Triplex
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
New Age Realty Group Inc
Listed By:
Nicole Caprario · License #RS320794
(215) 387-1002
Source:
Cummingsrealtors
Added: Jun 18
Changed: Sep 5
Last Checked: Sep 6 at 7:23AM
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 New Age Realty Group Inc
Investment Insights
Based on property information with market context.
4700 Cedar Avenue is a well-maintained, fully occupied triplex featuring one one-bedroom apartment, one studio apartment, and one spacious three-bedroom apartment. The property also includes a full basement, and several units have benefited from recent renovations and upgrades.
The triplex is located in West Philadelphia, described as being minutes from University of Pennsylvania, Drexel University, Clark Park, Cedar Park, and the Baltimore Avenue commercial corridor.
This property must be purchased together with 4702 Cedar due to a common entrance, and the two connected buildings provide five total residential units accessed through the shared entryway.
The triplex is located in West Philadelphia, described as being minutes from University of Pennsylvania, Drexel University, Clark Park, Cedar Park, and the Baltimore Avenue commercial corridor.
This property must be purchased together with 4702 Cedar due to a common entrance, and the two connected buildings provide five total residential units accessed through the shared entryway.
Key Highlights
- Fully occupied triplex (100% rented) generating immediate rental income from day one
- Unit mix includes one 1‑bedroom, one studio, and one 3‑bedroom apartment
- Includes a full basement
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
$29,552
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
5.47%
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%
$591,040
$591.0K
Cap Rate 7%
$422,171
$422.2K
Cap Rate 9%
$328,356
$328.4K
Market Conditions
NOI Build-Up for 2,728 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
$45.5K $16.68/SF
− Vacancy
−$3.3K −$1.20/SF
EGI
$42.2K $15.48/SF
− OpEx
−$12.7K −$4.64/SF
NOI
$29.6K $10.83/SF
Area
ZIP 19143
Vacancy
7.22%
Lease Rate
$16.68 /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%
$591,040
Cap Rate 7%
$422,171
Cap Rate 9%
$328,356
Alternative Uses
Best Use
Multifamily LT 5
$422.2K
$369.4K – $492.5K
NOI $29,552 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$375.5K
$328.6K – $438.1K
NOI $26,286 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$935.0K
$818.1K – $1.09M
NOI $65,451 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - A fully occupied triplex with one one-bedroom, one studio, and one three-bedroom unit plus a full basement.
Where is this triplex located?
The property is located at 4700 CEDAR AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Fully occupied triplex (100% rented) generating immediate rental income from day one; Unit mix includes one 1‑bedroom, one studio, and one 3‑bedroom apartment; Includes a full basement
