Tenant-Occupied Triplex with
For Sale
$549,500
Pending
7101 Ridge Avenue, Philadelphia, PA 19128
Three-unit property with coin-operated laundry, driveway parking, and a mix of one- and two-bedroom residences.
Property Size2,695 SF
Days on Market224
Property Features for 7101 Ridge Avenue
General Information
Standard status
Pending
Size
2,695 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Taxes and HOA fees
Annual Taxes
$4,890
Amenities
No
Built-In Microwave, Oven/Range - Gas, Refrigerator, Washer/Dryer Stacked, Washer, Dryer, Water Heater, Dishwasher, Disposal
Wood Floors, Bathroom - Tub Shower, Flat, Upgraded Countertops
https://mls.ricoh360.com/0d0b1264-7f4e-4713-a0e9-c441c2bcc4c8
No Pool
Above Grade, Below Grade
Patio(s)
Building Details
Year Built
1978
Listing Agency:
MGMT Residential
(215) 326-9311
Listed By:
Mary Frances Lyn Wexler · License #RS344831
(215) 326-9311
Source:
Compass
Added: Jan 19
Changed: Aug 31
Last Checked: Aug 31 at 1:38AM
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 MGMT Residential
Investment Insights
Based on property information with market context.
This tenant-occupied triplex in Philadelphia contains two one-bedroom residences and one larger two-bedroom residence. Interior finishes include wood flooring throughout the units, ceramic-tile bathrooms, and upgraded countertops. Coin-operated laundry equipment is positioned on the second floor and included in the sale, while driveway parking serves the property. The building was constructed in 1978 and is zoned RM1.
The property is located at 7101 Ridge Avenue in the 19128 MLS area, directly across from Ivy Ridge Shopping Center. Shopping, dining, and public transportation are identified nearby, adding convenient access to everyday services. The sale also includes the existing kitchen appliances and laundry equipment, including gas cooking, refrigerators, dishwashers, disposals, and stacked washer-dryer equipment.
The property is located at 7101 Ridge Avenue in the 19128 MLS area, directly across from Ivy Ridge Shopping Center. Shopping, dining, and public transportation are identified nearby, adding convenient access to everyday services. The sale also includes the existing kitchen appliances and laundry equipment, including gas cooking, refrigerators, dishwashers, disposals, and stacked washer-dryer equipment.
Key Highlights
- Two 1‑bedroom units and one 2‑bedroom unit
- Coin‑operated laundry machines on the second floor included in the sale
- Driveway parking available for tenants
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
$45,990
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
8.37%
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%
$919,800
$919.8K
Cap Rate 7%
$657,000
$657.0K
Cap Rate 9%
$511,000
$511.0K
Market Conditions
NOI Build-Up for 2,695 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
$69.5K $25.80/SF
− Vacancy
−$3.8K −$1.42/SF
EGI
$65.7K $24.38/SF
− OpEx
−$19.7K −$7.31/SF
NOI
$46.0K $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%
$919,800
Cap Rate 7%
$657,000
Cap Rate 9%
$511,000
Alternative Uses
Best Use
Multifamily LT 5
$657.0K
$574.9K – $766.5K
NOI $45,990 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$605.6K
$529.9K – $706.5K
NOI $42,391 @ 7.0% cap · market cap 7.71%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 19128, PA
36,808
Population
19,006
Households
1.9
Avg Household Size
36
Median Age
55%
College-Educated
95%
High-School Grad
7.0 sq mi
ZIP Area
5,258
Density / Sq Mi
$89,639
Median Household Income
$64,861
Median Earnings
$1,563
Median Rent
$330,800
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 - Three-unit property with coin-operated laundry, driveway parking, and a mix of one- and two-bedroom residences.
Where is this triplex located?
The property is located at 7101 Ridge Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $549,500.
What are key features of this property?
This property features: Two 1‑bedroom units and one 2‑bedroom unit; Coin‑operated laundry machines on the second floor included in the sale; Driveway parking available for tenants
