Renovated
For Sale
$675,000
Pending
608 S 48TH STREET, Philadelphia, PA 19143
Three updated apartments offer contemporary kitchens, refreshed bathrooms, stainless steel appliances, and new flooring.
Property Size3,450 SF
Days on Market53
Property Features for 608 S 48TH STREET
General Information
Standard status
Pending
Size
3,450 SF
Property subtype
Triplex
Site & Location
Neighborhood
West Philadelphia
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,806
Building Details
Building Size
3,450 SF
Year Built
1925
Listing Agency:
EXP Realty, LLC
Listed By:
Marcia Hurt · License #RS285848
(215) 681-3404
Source:
Patmckennarealtors
Added: Sep 10
Changed: Oct 31
Last Checked: Oct 30 at 11:19PM
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.
Built in 1925, this three-unit residential income property has been updated across each apartment. Improvements include contemporary kitchens with new cabinetry and stainless steel appliances, refreshed bathrooms, new flooring, and fresh paint. The configuration provides three modern residences within a single triplex building.
The property is located at 608 S 48th Street in West Philadelphia, on a quiet, tree-lined block near Baltimore Avenue. Clark Park, dining, cafes, trolley service, and University City are all identified as nearby destinations, placing everyday services and transportation options within the surrounding area.
The property is located at 608 S 48th Street in West Philadelphia, on a quiet, tree-lined block near Baltimore Avenue. Clark Park, dining, cafes, trolley service, and University City are all identified as nearby destinations, placing everyday services and transportation options within the surrounding area.
Key Highlights
- Three‑unit triplex in West Philadelphia
- Contemporary kitchens with new cabinetry and stainless steel appliances
- Updated bathrooms, new flooring, and fresh paint throughout the apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,374
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$747,480
$747.5K
Cap Rate 7%
$533,914
$533.9K
Cap Rate 9%
$415,267
$415.3K
Market Conditions
NOI Build-Up for 3,450 SF
Gross rent
$57.5K $16.68/SF
− Vacancy
−$4.2K −$1.20/SF
EGI
$53.4K $15.48/SF
− OpEx
−$16.0K −$4.64/SF
NOI
$37.4K $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 Rate 5%
$747,480
Cap Rate 7%
$533,914
Cap Rate 9%
$415,267
Alternative Uses
Best Use
Multifamily LT 5
$533.9K
$467.2K – $622.9K
NOI $37,374 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$474.9K
$415.5K – $554.0K
NOI $33,242 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,774 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,105
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three updated apartments offer contemporary kitchens, refreshed bathrooms, stainless steel appliances, and new flooring.
Where is this triplex located?
The property is located at 608 S 48TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three‑unit triplex in West Philadelphia; Contemporary kitchens with new cabinetry and stainless steel appliances; Updated bathrooms, new flooring, and fresh paint throughout the apartments
