Nine-Room Apartment
For Sale
$949,999
500 North 34th Street, Philadelphia, PA 19104
Three-level layout offers separate rooms and multiple bathrooms for flexible residential occupancy.
Property Size3,120 SF
Price / SF$304.49
Days on Market120
Property Features for 500 North 34th Street
General Information
Standard status
Active
Size
3,120 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,294
Amenities
No
No Pool
Building Details
Year Built
1935
Stories
3
Listing Agency:
Realty Mark Cityscape
Listed By:
Cheng Qiu Zheng · License #Rs343309
(267) 593-5054
Source:
Compass
Added: May 7
Changed: Aug 30
Last Checked: Aug 30 at 5:28PM
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 Realty Mark Cityscape
Investment Insights
Based on property information with market context.
This three-story apartment building at 500 North 34th Street contains 3,120 square feet and was built in 1935. The floor plan includes four private rooms and three bathrooms on the first floor, one room and one bathroom on the second, and four private rooms with three bathrooms on the third. The arrangement provides nine rooms and seven bathrooms across the building, with large living spaces and abundant natural light noted in the property details.
The property is in Philadelphia’s 19104 area and carries RM1 zoning. It is located near Drexel University, the University of Pennsylvania, major hospitals, public transportation, restaurants, and shopping. The location also offers access to Center City, I-76, SEPTA, universities, and healthcare campuses.
The property is in Philadelphia’s 19104 area and carries RM1 zoning. It is located near Drexel University, the University of Pennsylvania, major hospitals, public transportation, restaurants, and shopping. The location also offers access to Center City, I-76, SEPTA, universities, and healthcare campuses.
Key Highlights
- 3,120‑square‑foot apartment building at 500 North 34th Street
- Nine private rooms and seven bathrooms across three levels
- First floor includes 4 private rooms and 3 bathrooms
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
$49,076
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
5.17%
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%
$981,520
$981.5K
Cap Rate 7%
$701,086
$701.1K
Cap Rate 9%
$545,289
$545.3K
Market Conditions
NOI Build-Up for 3,120 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
$94.7K $30.36/SF
− Vacancy
−$5.5K −$1.76/SF
EGI
$89.2K $28.60/SF
− OpEx
−$40.2K −$12.87/SF
NOI
$49.1K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$981,520
Cap Rate 7%
$701,086
Cap Rate 9%
$545,289
Alternative Uses
Best Use
Apartment 5plus
$701.1K
$613.5K – $817.9K
NOI $49,076 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$760.6K
$665.5K – $887.4K
NOI $53,242 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,589
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
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?
Apartment building - Three-level layout offers separate rooms and multiple bathrooms for flexible residential occupancy.
Where is this apartment building located?
The property is located at 500 North 34th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $949,999.
What are key features of this property?
This property features: 3,120‑square‑foot apartment building at 500 North 34th Street; Nine private rooms and seven bathrooms across three levels; First floor includes 4 private rooms and 3 bathrooms
