Leased Triplex with Off-Street
For Sale
$419,000
537 S 55TH STREET, Philadelphia, PA 19143
Unit mix includes two 2-bedroom, 1-bath residences and one 4-bedroom, 2-bath bilevel residence.
Property Size2,655 SF
Days on Market68
Property Features for 537 S 55TH STREET
General Information
Standard status
Active
Size
2,655 SF
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA, 1 x 4BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,165
Building Details
Building Size
2,655 SF
Year Built
1925
Buildings
1
Listing Agency:
Opus Elite Real Estate
(267) 974-4423
Listed By:
Anthony R Castaneda · License #RS325527
(267) 974-4423
Source:
Patmckennarealtors
Added: Jun 25
Changed: Aug 28
Last Checked: Aug 31 at 12:20AM
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 Opus Elite Real Estate
Investment Insights
Based on property information with market context.
Built in 1925, this three-unit property is fully leased and includes two residences with two bedrooms and one bathroom each, plus a bilevel residence spanning the second and third floors with four bedrooms and two bathrooms. Interior features include commercial-grade laminate flooring, tiled kitchens and bathrooms, central air and heating, large windows, and high ceilings. A private driveway provides off-street parking.
Located at 537 S 55TH STREET in Philadelphia, the property offers access to public transit, parks, and local conveniences. Baltimore Avenue, within walking distance, includes restaurants, cafes, and shops. Clark Park is also nearby and hosts farmers' markets and community events.
Located at 537 S 55TH STREET in Philadelphia, the property offers access to public transit, parks, and local conveniences. Baltimore Avenue, within walking distance, includes restaurants, cafes, and shops. Clark Park is also nearby and hosts farmers' markets and community events.
Key Highlights
- Fully leased three‑unit property
- Unit mix includes two 2‑bedroom, 1‑bath units and one 4‑bedroom, 2‑bath bilevel unit
- Bilevel residence occupies the second and third floors
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
$28,762
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
6.86%
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%
$575,240
$575.2K
Cap Rate 7%
$410,886
$410.9K
Cap Rate 9%
$319,578
$319.6K
Market Conditions
NOI Build-Up for 2,655 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
$44.3K $16.68/SF
− Vacancy
−$3.2K −$1.20/SF
EGI
$41.1K $15.48/SF
− OpEx
−$12.3K −$4.64/SF
NOI
$28.8K $10.83/SF
Area
ZIP 19143
Vacancy
7.22%
Lease Rate
$16.68 /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%
$575,240
Cap Rate 7%
$410,886
Cap Rate 9%
$319,578
Alternative Uses
Best Use
Multifamily LT 5
$410.9K
$359.5K – $479.4K
NOI $28,762 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$365.5K
$319.8K – $426.4K
NOI $25,582 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$910.0K
$796.3K – $1.06M
NOI $63,700 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,981
Businesses Nearby
Explore this area
Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
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 - Unit mix includes two 2-bedroom, 1-bath residences and one 4-bedroom, 2-bath bilevel residence.
Where is this triplex located?
The property is located at 537 S 55TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Fully leased three‑unit property; Unit mix includes two 2‑bedroom, 1‑bath units and one 4‑bedroom, 2‑bath bilevel unit; Bilevel residence occupies the second and third floors
