Renovated
For Sale
$899,900
507 Christian St, Philadelphia, PA 19147
Three one-bedroom apartments feature separate utilities, in-unit laundry, and central air and heat.
Property Size2,265 SF
Price / SF$397.31
Days on Market10
Property Features for 507 Christian St
General Information
Standard status
Active
Size
2,265 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
3 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,931
Amenities
in-unit washer/dryer
central air conditioning
central heating
stainless steel appliances
dishwasher
hardwood floors
keyless entry
private outdoor area
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Century 21 Forrester Real Estate
(267) 688-1449
Listed By:
Michael A Giangiordano II · License #RM044229A
(267) 688-1449
Source:
Exprealty
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 29 at 6:07PM
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 Century 21 Forrester Real Estate
Investment Insights
Based on property information with market context.
This 2,265-square-foot triplex contains three one-bedroom apartments that have been renovated and maintained with contemporary finishes. Each unit includes a kitchen with stainless steel appliances and a dishwasher, a tiled bathroom, hardwood flooring, in-unit washer and dryer, and central air and heat. Separate utility service and keyless access are provided for each apartment and the exterior entrances.
The first-floor apartment opens to a yard and private outdoor area. A full, unfinished basement houses the mechanical systems, utility meters, and fire alarm equipment and is excluded from the tenant leases. The property is fully leased and located at 507 Christian St in Philadelphia, Pennsylvania.
The first-floor apartment opens to a yard and private outdoor area. A full, unfinished basement houses the mechanical systems, utility meters, and fire alarm equipment and is excluded from the tenant leases. The property is fully leased and located at 507 Christian St in Philadelphia, Pennsylvania.
Key Highlights
- 2,265‑square‑foot triplex with three one‑bedroom apartments
- Fully leased property with separate utilities for each unit
- Renovated kitchens include stainless steel appliances and dishwashers
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
$38,652
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
4.30%
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%
$773,040
$773.0K
Cap Rate 7%
$552,171
$552.2K
Cap Rate 9%
$429,467
$429.5K
Market Conditions
NOI Build-Up for 2,265 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
$58.4K $25.80/SF
− Vacancy
−$3.2K −$1.42/SF
EGI
$55.2K $24.38/SF
− OpEx
−$16.6K −$7.31/SF
NOI
$38.7K $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%
$773,040
Cap Rate 7%
$552,171
Cap Rate 9%
$429,467
Alternative Uses
Best Use
Multifamily LT 5
$552.2K
$483.2K – $644.2K
NOI $38,652 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$509.0K
$445.3K – $593.8K
NOI $35,627 @ 7.0% cap · market cap 3.96%
Theoretical Best
—
—
same as Best Use
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
Location Intelligence
Trade Area within ½ mile
6,030
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
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 - Three one-bedroom apartments feature separate utilities, in-unit laundry, and central air and heat.
Where is this triplex located?
The property is located at 507 Christian St Philadelphia, PA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 2,265‑square‑foot triplex with three one‑bedroom apartments; Fully leased property with separate utilities for each unit; Renovated kitchens include stainless steel appliances and dishwashers
