Well-Maintained Quadplex with
For Sale
$1,080,000
617 North 11th Street, Philadelphia, PA 19123
A well-maintained four-unit bi-level property with in-unit laundry and multiple private outdoor spaces.
Property Size4,183 SF
Price / SF$258.19
Days on Market220
Property Features for 617 North 11th Street
General Information
Standard status
Active
Size
4,183 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM-1
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,290
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
2017
Listing Agency:
Realty Mark Associates - KOP
(215) 834-8897
Listed By:
LIN LIN DONG · License #RS345597
(215) 834-8897
Source:
Compass
Added: Jan 22
Changed: Aug 8
Last Checked: Aug 29 at 9:36AM
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 Realty Mark Associates - KOP
Investment Insights
Based on property information with market context.
This well-maintained quadplex offers four spacious bi-level units, each equipped with stainless steel appliances and an in-unit washer and dryer. Unit 1 features a 2-bedroom, 2.5-bath layout spanning the first floor (front) and basement. Unit 2 is a 2-bedroom, 2-bath bi-level home covering the second floor and first floor (rear), with two private balconies—one off the living room and one off the bedroom—plus a private backyard.
Units 3F and 3B are located on the third and fourth floors. Unit 3F is a 2-bedroom, 2-bath unit on the front with a modern layout. Unit 3B is a 2-bedroom, 1.5-bath unit on the rear with a private balcony off the living room.
The property is offered for sale with the listing noting two more years of tax abatement remaining.
Units 3F and 3B are located on the third and fourth floors. Unit 3F is a 2-bedroom, 2-bath unit on the front with a modern layout. Unit 3B is a 2-bedroom, 1.5-bath unit on the rear with a private balcony off the living room.
The property is offered for sale with the listing noting two more years of tax abatement remaining.
Key Highlights
- Well‑maintained 4‑unit quadruplex built in 2017 with bi‑level layouts
- Each unit includes in‑unit washer and dryer and stainless steel appliances
- Unit 2 features two private balconies (off the living room and bedroom) plus a private backyard
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
$71,382
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
6.61%
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%
$1,427,640
$1.4M
Cap Rate 7%
$1,019,743
$1.0M
Cap Rate 9%
$793,133
$793.1K
Market Conditions
NOI Build-Up for 4,183 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
$107.9K $25.80/SF
− Vacancy
−$5.9K −$1.42/SF
EGI
$102.0K $24.38/SF
− OpEx
−$30.6K −$7.31/SF
NOI
$71.4K $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%
$1,427,640
Cap Rate 7%
$1,019,743
Cap Rate 9%
$793,133
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$892.3K – $1.19M
NOI $71,382 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$940.0K
$822.5K – $1.10M
NOI $65,797 @ 7.0% cap · market cap 6.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
19,028
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
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 - A well-maintained four-unit bi-level property with in-unit laundry and multiple private outdoor spaces.
Where is this quadplex located?
The property is located at 617 North 11th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Well‑maintained 4‑unit quadruplex built in 2017 with bi‑level layouts; Each unit includes in‑unit washer and dryer and stainless steel appliances; Unit 2 features two private balconies (off the living room and bedroom) plus a private backyard
