Victorian Triplex with Owner-Occupant
For Sale
$325,000
5241-00 WALNUT Street, Philadelphia, PA 19139
Multi-Family, PHILADELPHIA, PA
Property Size1,500 SF
Lot Size0.04 Acres
Price / SF$216.67
Days on Market100
Property Features for 5241-00 WALNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Appliances
Dryer, Oven/Range - Electric, Refrigerator, Washer
Subdivision
SPRUCE HILL
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,500 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3149
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
private entrance
rear yard
unfinished basement
in-unit washer/dryer
Building Details
Year built
1925
Number of units
3
Building materials
Masonry
Architectural style
Victorian
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Deidre M Quinn · License #RS276819
(267) 225-3678
Added: Jun 25
Changed: Sep 30
Last Checked: Oct 2 at 4:06AM
MLS# PAPH2640810
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1925, this 1,500-square-foot Victorian triplex contains three apartments, each with two bedrooms and one bathroom on its own floor. The second-floor residence is vacant, supporting either an owner-occupant arrangement or new leasing. Individual HVAC systems provide central heating and air conditioning, while each unit includes a washer, dryer, separate hot water heater, and independent water, gas, and electric metering. A separate electrical meter serves the common areas. The first-floor apartment has a private entrance and access to the rear yard and unfinished basement, which provides additional storage and utility space. Masonry construction and a 0.0386-acre lot complete the property profile.
The property is located at 5241 Walnut Street in Philadelphia’s Spruce Hill neighborhood, within the University City area. Nearby institutions and employment centers include the University of Pennsylvania, Drexel University, Penn Medicine, and Children’s Hospital of Philadelphia. SEPTA trolley routes, the Market-Frankford Line, regional rail, and 30th Street Station provide transportation connections throughout Philadelphia and beyond.
The property is located at 5241 Walnut Street in Philadelphia’s Spruce Hill neighborhood, within the University City area. Nearby institutions and employment centers include the University of Pennsylvania, Drexel University, Penn Medicine, and Children’s Hospital of Philadelphia. SEPTA trolley routes, the Market-Frankford Line, regional rail, and 30th Street Station provide transportation connections throughout Philadelphia and beyond.
Key Highlights
- Three 2‑bedroom, 1‑bathroom apartments arranged across separate floors
- 1,500 square feet on a 0.0386‑acre lot
- 1925 Victorian design with masonry construction
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
7.88%
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 7.88%
Second Best
Apartment 5plus
$337.1K
$294.9K – $393.2K
NOI $23,594 @ 7.0% cap · market cap 7.26%
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
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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 separately equipped apartments include central HVAC, in-unit laundry, and individually metered utilities.
Where is this triplex located?
The property is located at 5241-00 WALNUT Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Three 2‑bedroom, 1‑bathroom apartments arranged across separate floors; 1,500 square feet on a 0.0386‑acre lot; 1925 Victorian design with masonry construction
