Fully Occupied
For Sale
$275,000
532 Turner St, Philadelphia, PA 19122
Two maintained apartments offer an established residential income property with long-term tenant occupancy.
Property Size1,074 SF
Price / SF$256.05
Days on Market38
Property Features for 532 Turner St
General Information
Standard status
Active
Size
1,074 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1925
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Main Line
Listed By:
Denise A Frazier · License #AB067937
(215) 421-3362
Source:
Upgradebymichaud
Added: Jul 30
Changed: Sep 3
Last Checked: Sep 5 at 10:24AM
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 Keller Williams Main Line
Investment Insights
Based on property information with market context.
This duplex contains 1,074 square feet and was built in 1925. Its layout includes two one-bedroom, one-bathroom apartments, each occupied by a long-term tenant. The property is fully occupied and positioned as an income-producing residential asset with established tenancy.
Located at 532 Turner St in Philadelphia’s Olde Kensington, the property is near Temple University, Northern Liberties, Fishtown, public transportation, major roadways, shopping, dining, and neighborhood amenities. These nearby destinations and transportation options provide convenient access to surrounding employment, education, retail, and residential areas.
Located at 532 Turner St in Philadelphia’s Olde Kensington, the property is near Temple University, Northern Liberties, Fishtown, public transportation, major roadways, shopping, dining, and neighborhood amenities. These nearby destinations and transportation options provide convenient access to surrounding employment, education, retail, and residential areas.
Key Highlights
- Fully occupied duplex at 532 Turner St, Philadelphia, PA 19122
- Two 1‑bedroom, 1‑bathroom apartments
- 1,074 square feet of property size
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
$18,328
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
6.66%
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%
$366,560
$366.6K
Cap Rate 7%
$261,829
$261.8K
Cap Rate 9%
$203,644
$203.6K
Market Conditions
NOI Build-Up for 1,074 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
$27.7K $25.80/SF
− Vacancy
−$1.5K −$1.42/SF
EGI
$26.2K $24.38/SF
− OpEx
−$7.9K −$7.31/SF
NOI
$18.3K $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%
$366,560
Cap Rate 7%
$261,829
Cap Rate 9%
$203,644
Alternative Uses
Best Use
Multifamily LT 5
$261.8K
$229.1K – $305.5K
NOI $18,328 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$241.3K
$211.2K – $281.6K
NOI $16,894 @ 7.0% cap · market cap 6.14%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,830
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
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?
Duplex - Two maintained apartments offer an established residential income property with long-term tenant occupancy.
Where is this duplex located?
The property is located at 532 Turner St Philadelphia, PA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Fully occupied duplex at 532 Turner St, Philadelphia, PA 19122; Two 1‑bedroom, 1‑bathroom apartments; 1,074 square feet of property size
