Corner-Lot Legal
For Sale
$359,000
6160 CHARLES Street, Philadelphia, PA 19135
Multi-Family, PHILADELPHIA, PA
Property Size1,850 SF
Lot Size0.06 Acres
Price / SF$194.05
Days on Market55
Property Features for 6160 CHARLES Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
Driveway, Offsite
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,850 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
3554
Utilities
Heating system
Hot Water(Heating)
Cooling system
Wall Unit(s)
Amenities
private washer and dryer
Building Details
Year built
1945
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Real Estate - Newtown · Keller Williams Realty
(215) 860-4200
Listed By:
Emilio john DiCicco · License #RS358289
(215) 669-4347
Added: Jul 7
Changed: Aug 27
Last Checked: Aug 30 at 6:06AM
MLS# PAPH2642266
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 legal triplex contains 1,850 square feet within a 1945 masonry building. The property is fully occupied and includes three separate hot water heaters replaced in 2021, 2024, and 2026. Additional improvements include a flat roof installed in 2021, replacement windows and repairs, and updates to the second-floor and ground-floor units. Each residence has its own private washer and dryer.
Positioned on a 0.0632-acre corner lot at 6160 Charles Street in Philadelphia, the end-of-row property has an oversized front yard setback, additional side yard, and mature evergreen landscaping. Driveway and offsite parking are listed among the parking features, while hot-water heating and wall-unit cooling serve the building. Current leases expire on March 1, 2027.
Positioned on a 0.0632-acre corner lot at 6160 Charles Street in Philadelphia, the end-of-row property has an oversized front yard setback, additional side yard, and mature evergreen landscaping. Driveway and offsite parking are listed among the parking features, while hot-water heating and wall-unit cooling serve the building. Current leases expire on March 1, 2027.
Key Highlights
- Legal triplex with 1,850 square feet in a 1945 masonry building
- Fully occupied with current leases expiring March 1, 2027
- Three hot water heaters replaced in 2021, 2024, and 2026
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
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 masonry property with private laundry in each unit and convenient access to highways and New Jersey bridges.
Where is this triplex located?
The property is located at 6160 CHARLES Street 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 1,850 square feet in a 1945 masonry building; Fully occupied with current leases expiring March 1, 2027; Three hot water heaters replaced in 2021, 2024, and 2026
