Fully Occupied Triplex with In-Unit
741 South 3rd Street Philadelphia, PA 19147
For Sale
$1,150,000
Triplex with three 2-bedroom units, hardwood floors, stainless steel appliances, and in-unit laundry, fully occupied.
Property Size2,826 SF
Price / SF$406.94
Days on Market41
Property Features for 741 South 3rd Street
General Information
- Standard status
- Active
- Size
- 2,826 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1915
Listing Agency:
BHHS Fox & Roach-Center City Walnut
(215) 440-2096
Listed By:
Gregory J Damis · License #RS153011A
(215) 440-2096
Source:
Compass
Added: Jun 13
Changed: Jul 21
Last Checked: Jul 23 at 6:28AM
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 BHHS Fox & Roach-Center City Walnut
Investment Insights
Based on property information with market context.
This fully occupied triplex offers three 2-bedroom, 1-bath units. Each unit features spacious living rooms and includes hardwood floors, stainless steel appliances, and in-unit laundry. Large windows in every unit help bring in natural light. The first-floor unit includes a small patio area off the kitchen, and the third-floor unit has access via a walk-up to the roof, where a roof deck can be built.
The basement is accessed from the outside sidewalk and includes a full bathroom. The space may have additional flexibility, with potential to be turned into another unit or reconnected to the first floor to create a larger layout or an owner's suite. Tenants split the water bill and pay their full electric and gas bills.
The three units are currently rented, providing immediate occupancy for an investor or owner-operator. No same-day showings are available.
The basement is accessed from the outside sidewalk and includes a full bathroom. The space may have additional flexibility, with potential to be turned into another unit or reconnected to the first floor to create a larger layout or an owner's suite. Tenants split the water bill and pay their full electric and gas bills.
The three units are currently rented, providing immediate occupancy for an investor or owner-operator. No same-day showings are available.
Key Highlights
- Fully occupied triplex with three 2‑bedroom, 1‑bath units and spacious living rooms
- Each unit features hardwood floors, stainless steel appliances, and in‑unit laundry
- Tenants pay full electric and gas; water bill is split among tenants
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $72.9k | $25.80 |
| − Vacancy | −$4.0k | −$1.42 |
| EGI | $68.9k | $24.38 |
| − OpEx | −$20.7k | −$7.31 |
| NOI | $48.2k | $17.06 |
2,826 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$688.9K
$602.8K – $803.8K
NOI $48,225 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$635.0K
$555.7K – $740.9K
NOI $44,452 @ 7.0% cap · market cap 3.87%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Triplex with three 2-bedroom units, hardwood floors, stainless steel appliances, and in-unit laundry, fully occupied.
Where is this triplex located?
The property is located at 741 South 3rd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Fully occupied triplex with three 2‑bedroom, 1‑bath units and spacious living rooms; Each unit features hardwood floors, stainless steel appliances, and in‑unit laundry; Tenants pay full electric and gas; water bill is split among tenants
