3-Unit Apartment
New
For Sale
$349,999
5241-00 WALNUT ST, Philadelphia, PA 19139
Separate HVAC, laundry, and utility meters serve each apartment.
Property Size1,500 SF
Price / SF$233.33
Days on Market2
Property Features for 5241-00 WALNUT ST
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi-family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Amenities
central heating and air conditioning
in-unit washer and dryer
separate hot water heater
individually metered water, gas, and electric
Building Details
Buildings
1
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Deidre M Quinn · License #RS276819
(267) 225-3678
Source:
Opal-realestate
Added: Sep 26
Last Checked: Sep 26 at 2:37PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
At 5241 Walnut Street, this three-apartment property has one two-bedroom, one-bathroom residence on each floor. The second-floor unit is vacant. On the first floor, a private entrance connects the apartment to the rear yard and an unfinished basement that provides storage space.
Each residence has its own HVAC system, washer and dryer, and hot water heater. Water, gas, and electric are metered separately for the apartments, with an additional electrical meter for common areas.
The property is in Philadelphia’s Spruce Hill area, near University City, the University of Pennsylvania, Drexel University, Penn Medicine, and Children’s Hospital of Philadelphia. Transit options identified for the area include SEPTA trolley routes, the Market-Frankford Line, regional rail, and 30th Street Station.
Each residence has its own HVAC system, washer and dryer, and hot water heater. Water, gas, and electric are metered separately for the apartments, with an additional electrical meter for common areas.
The property is in Philadelphia’s Spruce Hill area, near University City, the University of Pennsylvania, Drexel University, Penn Medicine, and Children’s Hospital of Philadelphia. Transit options identified for the area include SEPTA trolley routes, the Market-Frankford Line, regional rail, and 30th Street Station.
Key Highlights
- Three apartments, each with two bedrooms and one bathroom
- Second‑floor residence is vacant
- Individual HVAC, washer and dryer, and hot water heater in each unit
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
$25,597
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
7.31%
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%
$511,940
$511.9K
Cap Rate 7%
$365,671
$365.7K
Cap Rate 9%
$284,411
$284.4K
Market Conditions
NOI Build-Up for 1,500 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
$38.7K $25.80/SF
− Vacancy
−$2.1K −$1.42/SF
EGI
$36.6K $24.38/SF
− OpEx
−$11.0K −$7.31/SF
NOI
$25.6K $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%
$511,940
Cap Rate 7%
$365,671
Cap Rate 9%
$284,411
Alternative Uses
Best Use
Multifamily LT 5
$365.7K
$320.0K – $426.6K
NOI $25,597 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$337.1K
$294.9K – $393.2K
NOI $23,594 @ 7.0% cap · market cap 6.74%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,332
Businesses Nearby
Explore this area
Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Separate HVAC, laundry, and utility meters serve each apartment.
Where is this triplex located?
The property is located at 5241-00 WALNUT ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: Three apartments, each with two bedrooms and one bathroom; Second‑floor residence is vacant; Individual HVAC, washer and dryer, and hot water heater in each unit
