Quadplex with Two 1BR and Two
For Sale
$475,000
597 ADAMS Avenue, Philadelphia, PA 19120
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,524 SF
Lot Size0.04 Acres
Price / SF$311.68
Days on Market17
Property Features for 597 ADAMS Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
On Street
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,524 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3089
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s), Central Air, Attic Fan
Building Details
Year built
1955
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Real Estate - Newtown · Keller Williams Realty
(215) 860-4200
Listed By:
Alysha Brand · License #RS343769
(215) 588-8086
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 12 at 5:06PM
MLS# PAPH2652484
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.
This masonry quadplex is configured as two stacked duplexes. One building has two 1 bed, 1 bath units (upstairs and downstairs). The first-floor unit has direct access to a back room containing utilities for both levels and includes the first-floor washing machine, plus direct access to the back yard. The second-floor unit has its own side entrance. These units are occupied.
The second building has two 2 bed, 1 bath units (upstairs and downstairs). The first-floor unit has direct access to the back room with utilities for both levels and the first-floor washing machine, along with direct access to the back yard. It also features a patio off the front with a fenced-in space, and the second-floor unit has its own side entrance. The first-floor unit is occupied, while the upstairs unit has just been renovated with brand new floors, newer HVAC and HW heater, washer/dryer hookups, new light fixtures, and a new kitchen and bathroom.
Built in 1955, the property totals 1,524 SF on a 0.0367-acre lot. Heating is forced air, and cooling includes central air along with ceiling and attic fans. Parking is on-street. Convenient to public transportation and major roadways.
The second building has two 2 bed, 1 bath units (upstairs and downstairs). The first-floor unit has direct access to the back room with utilities for both levels and the first-floor washing machine, along with direct access to the back yard. It also features a patio off the front with a fenced-in space, and the second-floor unit has its own side entrance. The first-floor unit is occupied, while the upstairs unit has just been renovated with brand new floors, newer HVAC and HW heater, washer/dryer hookups, new light fixtures, and a new kitchen and bathroom.
Built in 1955, the property totals 1,524 SF on a 0.0367-acre lot. Heating is forced air, and cooling includes central air along with ceiling and attic fans. Parking is on-street. Convenient to public transportation and major roadways.
Key Highlights
- Two 1 bed 1 bath units plus two 2 bed 1 bath units in a quadplex layout
- Upstairs unit renovation includes brand new floors, newer HVAC and HW heater, and washer/dryer hookups
- First‑floor 1BR unit includes a back room with utilities for both levels and a first‑floor washing machine
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
$16,509
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
3.48%
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%
$330,180
$330.2K
Cap Rate 7%
$235,843
$235.8K
Cap Rate 9%
$183,433
$183.4K
Market Conditions
NOI Build-Up for 1,524 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
$25.4K $16.68/SF
− Vacancy
−$1.8K −$1.20/SF
EGI
$23.6K $15.48/SF
− OpEx
−$7.1K −$4.64/SF
NOI
$16.5K $10.83/SF
Area
ZIP 19120
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%
$330,180
Cap Rate 7%
$235,843
Cap Rate 9%
$183,433
Alternative Uses
Best Use
Multifamily LT 5
$235.8K
$206.4K – $275.2K
NOI $16,509 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$209.8K
$183.6K – $244.7K
NOI $14,684 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$364.1K
$318.6K – $424.7K
NOI $25,484 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
Explore this area
Business Placement
Demographics for 19120, PA
66,177
Population
25,730
Households
2.6
Avg Household Size
35
Median Age
13%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
20,680
Density / Sq Mi
$51,993
Median Household Income
$32,980
Median Earnings
$1,186
Median Rent
$143,500
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?
Quadplex - Masonry quadplex with two occupied 1-bedroom units and a renovated upstairs 2-bedroom unit.
Where is this quadplex located?
The property is located at 597 ADAMS Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two 1 bed 1 bath units plus two 2 bed 1 bath units in a quadplex layout; Upstairs unit renovation includes brand new floors, newer HVAC and HW heater, and washer/dryer hookups; First‑floor 1BR unit includes a back room with utilities for both levels and a first‑floor washing machine
