Three-Unit Apartment
For Sale
$325,000
5241 Walnut St, Philadelphia, PA 19139
Three separately metered apartments offer individual HVAC, laundry, hot water, and utility systems within a well-maintained property.
Property Size1,500 SF
Price / SF$216.67
Days on Market131
Property Features for 5241 Walnut St
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Residential Income
Site & Location
Neighborhood
West Philadelphia
Taxes and HOA fees
Annual Taxes
$3,149
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Deidre M Quinn · License #RS276819
(267) 225-3678
Source:
Exprealty
Added: Jun 25
Changed: Oct 26
Last Checked: Nov 1 at 11:13AM
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
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Investment Insights
Based on property information with market context.
This 1925 triplex contains three two-bedroom, one-bath apartments, with one residence arranged on each floor. The second-floor unit is vacant, creating an owner-occupant option or an opportunity to place the apartment with a new tenant. Each residence includes its own HVAC system, central heating and air conditioning, in-unit washer and dryer, separate hot water heater, and individual water, gas, and electric metering. A dedicated electrical meter serves the common areas.
The first-floor apartment has a private entrance and opens directly to the rear yard. It also includes access to an unfinished basement that provides additional storage and utility space. The property is located in Philadelphia’s Spruce Hill neighborhood, within the University City area, near 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 transit connections throughout Philadelphia and beyond.
The first-floor apartment has a private entrance and opens directly to the rear yard. It also includes access to an unfinished basement that provides additional storage and utility space. The property is located in Philadelphia’s Spruce Hill neighborhood, within the University City area, near 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 transit connections throughout Philadelphia and beyond.
Key Highlights
- Three 2‑bedroom, 1‑bath apartments, with one unit on each floor
- Second‑floor apartment is currently vacant
- Individual HVAC, washer and dryer, hot water heater, and utility meters for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,597
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
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
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 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.
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Location Intelligence
Trade Area within ½ mile
2,332
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered apartments offer individual HVAC, laundry, hot water, and utility systems within a well-maintained property.
Where is this triplex located?
The property is located at 5241 Walnut St 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‑bath apartments, with one unit on each floor; Second‑floor apartment is currently vacant; Individual HVAC, washer and dryer, hot water heater, and utility meters for each apartment
