Turnkey Triplex with Separate
500 East Thelma Street Philadelphia, PA 19120
For Sale
$250,000
Pending
Well-maintained triplex with three updated apartments and separate utilities for each unit.
Property Size1,200 SF
Days on Market27
Property Features for 500 East Thelma Street
General Information
- Standard status
- Pending
- Size
- 1,200 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1940
Listing Agency:
RE/MAX Keystone
(215) 885-8900
Listed By:
Kurt C Werner · License #RB066221
(215) 885-8900
Source:
Compass
Added: Jun 28
Changed: Jul 21
Last Checked: Jul 23 at 8:17AM
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 RE/MAX Keystone
Investment Insights
Based on property information with market context.
This turnkey triplex features three apartments with updated interiors and modern kitchen spaces. The layout includes a one-bedroom unit on the lower level, a one-bedroom unit on the second floor, and a two-bedroom unit on the third floor. Each apartment is served by separate utilities, designed to simplify ownership and day-to-day management.
The property includes dedicated outdoor space with a brand-new front patio and a newly constructed private deck for the first-floor apartment. It is located near public transportation, with a bus stop less than 1 mile, and close to shopping, schools, and major commuter routes.
For buyers seeking an income-producing residential property that is ready to own, this well-kept triplex offers a straightforward three-unit configuration with separate utility setups across all apartments.
The property includes dedicated outdoor space with a brand-new front patio and a newly constructed private deck for the first-floor apartment. It is located near public transportation, with a bus stop less than 1 mile, and close to shopping, schools, and major commuter routes.
For buyers seeking an income-producing residential property that is ready to own, this well-kept triplex offers a straightforward three-unit configuration with separate utility setups across all apartments.
Key Highlights
- Triplex built in 1940 with three apartments: one‑bedroom lower unit, one‑bedroom second‑floor unit, and two‑bedroom third‑floor unit
- Separate utilities for each unit, helping simplify property management and rental flexibility
- Each apartment features a modern kitchen and updated finishes with well‑maintained living spaces
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 | $20.0k | $16.68 |
| − Vacancy | −$1.4k | −$1.20 |
| EGI | $18.6k | $15.48 |
| − OpEx | −$5.6k | −$4.64 |
| NOI | $13.0k | $10.83 |
1,200 SF · lease $16.68/SF/yr · vacancy 7.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$185.7K
$162.5K – $216.7K
NOI $13,000 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$165.2K
$144.5K – $192.7K
NOI $11,563 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$286.7K
$250.8K – $334.4K
NOI $20,066 @ 7.0% cap · market cap 8.03%
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 - Well-maintained triplex with three updated apartments and separate utilities for each unit.
Where is this triplex located?
The property is located at 500 East Thelma Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Triplex built in 1940 with three apartments: one‑bedroom lower unit, one‑bedroom second‑floor unit, and two‑bedroom third‑floor unit; Separate utilities for each unit, helping simplify property management and rental flexibility; Each apartment features a modern kitchen and updated finishes with well‑maintained living spaces
