Triplex Building with Section 8
New
For Sale
$420,000
773 N PRESTON STREET, Philadelphia, PA 19104
Triplex built in 1925 with current Housing Choice Voucher / Section 8 rental tenancy.
Days on Market4
Property Features for 773 N PRESTON STREET
General Information
Standard status
Active
Property subtype
Triplex
Building Details
Building Size
2,402 SF
Year Built
1925
Listing Agency:
KW Empower
(267) 388-1114
Listed By:
Asa Kurland · License #RS349157
(267) 388-1114
Source:
Patmckennarealtors
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 31 at 11:25AM
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 KW Empower
Investment Insights
Based on property information with market context.
This triplex building is available individually or as part of a larger Philadelphia residential portfolio. The offering is reported to include existing rental income and established tenancy, with operations primarily as Housing Choice Voucher / Section 8 housing. The portfolio is described as 102 properties totaling 108 residential units, offered across multiple Philadelphia ZIP codes.
The individual property is located at 773 N Preston Street in Philadelphia, PA 19104. The building is reported to have been built in 1925.
Reported capital improvements across the portfolio are described at a portfolio level, with scope and timing varying by property and requiring independent verification during due diligence. Select properties are also reported to have remaining tax abatement benefits, subject to buyer verification. This structure can appeal to investors seeking either single-asset acquisition or the ability to assemble a customized portfolio from multiple existing properties.
The individual property is located at 773 N Preston Street in Philadelphia, PA 19104. The building is reported to have been built in 1925.
Reported capital improvements across the portfolio are described at a portfolio level, with scope and timing varying by property and requiring independent verification during due diligence. Select properties are also reported to have remaining tax abatement benefits, subject to buyer verification. This structure can appeal to investors seeking either single-asset acquisition or the ability to assemble a customized portfolio from multiple existing properties.
Key Highlights
- Triplex building available individually or within a larger Philadelphia portfolio
- Current operations reported as Housing Choice Voucher / Section 8 rental housing
- Built in 1925
Financial Insights For Apartment 5plus
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 | $30.36 |
| − Vacancy | −$4.2k | −$1.76 |
| EGI | $68.7k | $28.60 |
| − OpEx | −$30.9k | −$12.87 |
| NOI | $37.8k | $15.73 |
2,402 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$585.6K
$512.4K – $683.2K
NOI $40,990 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$539.7K
$472.3K – $629.7K
NOI $37,782 @ 7.0% cap · market cap 9.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,341
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
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 - Triplex built in 1925 with current Housing Choice Voucher / Section 8 rental tenancy.
Where is this triplex located?
The property is located at 773 N PRESTON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Triplex building available individually or within a larger Philadelphia portfolio; Current operations reported as Housing Choice Voucher / Section 8 rental housing; Built in 1925
