Corner Triplex with Turnkey
For Sale
$349,900
Pending
5615 Upland Way, Philadelphia, PA 19131
Corner end-unit triplex offering three rental units, including two 2-bedroom layouts and one 1.5-bedroom unit.
Property Size1,698 SF
Days on Market131
Property Features for 5615 Upland Way
General Information
Standard status
Pending
Size
1,698 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Taxes and HOA fees
Annual Taxes
$2,954
Amenities
No
No Pool
Building Details
Year Built
1920
Listing Agency:
Realty Mark Associates
Listed By:
Janek Hancock · License #RS330380
(215) 376-4444
Source:
Compass
Added: May 1
Changed: Aug 7
Last Checked: Jul 24 at 1:42PM
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 Realty Mark Associates
Investment Insights
Based on property information with market context.
This corner end-unit triplex features three turnkey rental units or can be configured for owner-occupancy. The property includes two spacious 2-bedroom units and one versatile 1.5-bedroom unit, and each layout has one full bathroom. Built with an emphasis on the corner position, the home benefits from extra windows for natural light and fewer shared walls for enhanced privacy.
Located in Philadelphia in MLS area 19131, the property is served by the Philadelphia City School District.
The three-unit setup provides a straightforward income configuration, with all units presented as ready to go based on the listing description.
Located in Philadelphia in MLS area 19131, the property is served by the Philadelphia City School District.
The three-unit setup provides a straightforward income configuration, with all units presented as ready to go based on the listing description.
Key Highlights
- Corner end‑unit triplex with three rental layouts: two 2‑bedroom units and one 1.5‑bedroom unit
- Each of the three units includes 1 full bathroom
- Corner end‑unit design offers extra windows for natural light and fewer shared walls for added privacy
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
$28,976
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
8.28%
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%
$579,520
$579.5K
Cap Rate 7%
$413,943
$413.9K
Cap Rate 9%
$321,956
$322.0K
Market Conditions
NOI Build-Up for 1,698 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
$43.8K $25.80/SF
− Vacancy
−$2.4K −$1.42/SF
EGI
$41.4K $24.38/SF
− OpEx
−$12.4K −$7.31/SF
NOI
$29.0K $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%
$579,520
Cap Rate 7%
$413,943
Cap Rate 9%
$321,956
Alternative Uses
Best Use
Multifamily LT 5
$413.9K
$362.2K – $482.9K
NOI $28,976 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$381.6K
$333.9K – $445.2K
NOI $26,709 @ 7.0% cap · market cap 7.63%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Explore this area
Business Placement
Demographics for 19131, PA
42,705
Population
22,826
Households
1.9
Avg Household Size
38
Median Age
30%
College-Educated
92%
High-School Grad
5.3 sq mi
ZIP Area
8,058
Density / Sq Mi
$46,057
Median Household Income
$40,052
Median Earnings
$1,312
Median Rent
$163,900
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 - Corner end-unit triplex offering three rental units, including two 2-bedroom layouts and one 1.5-bedroom unit.
Where is this triplex located?
The property is located at 5615 Upland Way Philadelphia, PA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Corner end‑unit triplex with three rental layouts: two 2‑bedroom units and one 1.5‑bedroom unit; Each of the three units includes 1 full bathroom; Corner end‑unit design offers extra windows for natural light and fewer shared walls for added privacy
