Corner-Lot Legal
For Sale
$359,000
6160 Charles St, Philadelphia, PA 19135
Fully occupied multifamily property with private laundry in every unit and recent building upgrades.
Property Size1,850 SF
Price / SF$194.05
Days on Market16
Property Features for 6160 Charles St
General Information
Standard status
Active
Size
1,850 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
3
Amenities
private washer and dryer
Building Details
Year Built
1945
Tenancy
Multi
Listing Agency:
Keller Williams Real Estate - Newtown
(215) 669-4347
Listed By:
Emilio john DiCicco · License #RS358289
Source:
Bethsamberg
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 11:36AM
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 Real Estate - Newtown
Investment Insights
Based on property information with market context.
This legal triplex contains three residential units within an 1,850-square-foot property built in 1945. The building has been maintained during 22 years of ownership, with a flat roof installed in 2021, replacement windows and repairs, and updates to the second-floor and ground-floor units. Each apartment includes its own washer and dryer, while separate hot water heaters were replaced in 2021, 2024, and 2026.
The property is fully occupied, and all current leases run through March 1, 2027. Positioned on a corner lot, the end-of-row building includes an oversized front-yard setback, additional side yard, and mature evergreen landscaping. Its Philadelphia location provides access to major highways and bridges connecting to New Jersey.
The property is fully occupied, and all current leases run through March 1, 2027. Positioned on a corner lot, the end-of-row building includes an oversized front-yard setback, additional side yard, and mature evergreen landscaping. Its Philadelphia location provides access to major highways and bridges connecting to New Jersey.
Key Highlights
- Legal triplex with 3 residential units
- 1,850 SF property built in 1945
- Fully occupied; current leases expire March 1, 2027
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
$31,570
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
8.79%
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%
$631,400
$631.4K
Cap Rate 7%
$451,000
$451.0K
Cap Rate 9%
$350,778
$350.8K
Market Conditions
NOI Build-Up for 1,850 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
$47.7K $25.80/SF
− Vacancy
−$2.6K −$1.42/SF
EGI
$45.1K $24.38/SF
− OpEx
−$13.5K −$7.31/SF
NOI
$31.6K $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%
$631,400
Cap Rate 7%
$451,000
Cap Rate 9%
$350,778
Alternative Uses
Best Use
Multifamily LT 5
$451.0K
$394.6K – $526.2K
NOI $31,570 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$415.7K
$363.8K – $485.0K
NOI $29,100 @ 7.0% cap · market cap 8.11%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Explore this area
Business Placement
Demographics for 19135, PA
35,422
Population
14,323
Households
2.5
Avg Household Size
34
Median Age
16%
College-Educated
82%
High-School Grad
2.3 sq mi
ZIP Area
15,401
Density / Sq Mi
$51,817
Median Household Income
$38,673
Median Earnings
$1,197
Median Rent
$182,900
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 - Fully occupied multifamily property with private laundry in every unit and recent building upgrades.
Where is this triplex located?
The property is located at 6160 Charles St Philadelphia, PA.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Legal triplex with 3 residential units; 1,850 SF property built in 1945; Fully occupied; current leases expire March 1, 2027
