Updated Triplex with One-Bedroom
For Sale
$650,000
808 S 8TH STREET, Philadelphia, PA 19147
Three one-bedroom units feature den areas, marble baths, granite kitchens, and hardwood flooring.
Property Size2,091 SF
Days on Market45
Property Features for 808 S 8TH STREET
General Information
Standard status
Active
Size
2,091 SF
Property subtype
Triplex
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,755
Building Details
Building Size
2,091 SF
Year Built
1920
Buildings
1
Listing Agency:
Bainbridge Realty LLC
(610) 662-8715
Listed By:
James J Hanning · License #RM421835
(610) 662-8715
Source:
Patmckennarealtors
Added: Jul 18
Changed: Aug 29
Last Checked: Aug 30 at 9:06PM
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 Bainbridge Realty LLC
Investment Insights
Based on property information with market context.
This 2,091-square-foot triplex contains three one-bedroom residences, each with an additional den area. Interior finishes include marble bathrooms, granite kitchen surfaces, and hardwood floors throughout. The property also has updated windows, upgraded electrical service rated at 220 Amp, and a roof installed in 2024; the windows were replaced in 2020.
Each unit is leased on a one-year term with 60 days’ notice. The property is located at 808 S 8th Street in Philadelphia’s Bella Vista and Italian Market area. Route 45 bus service runs south on 8th Street and north on 9th Street near the property. Rittenhouse Square and Center City are within a 10-minute walk, while 9th Street Italian Market shopping is around the corner.
Each unit is leased on a one-year term with 60 days’ notice. The property is located at 808 S 8th Street in Philadelphia’s Bella Vista and Italian Market area. Route 45 bus service runs south on 8th Street and north on 9th Street near the property. Rittenhouse Square and Center City are within a 10-minute walk, while 9th Street Italian Market shopping is around the corner.
Key Highlights
- Three one‑bedroom units, each with a den area
- 2,091‑square‑foot triplex with marble baths and granite kitchens
- Hardwood floors throughout the property
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
$35,683
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
5.49%
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%
$713,660
$713.7K
Cap Rate 7%
$509,757
$509.8K
Cap Rate 9%
$396,478
$396.5K
Market Conditions
NOI Build-Up for 2,091 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
$53.9K $25.80/SF
− Vacancy
−$3.0K −$1.42/SF
EGI
$51.0K $24.38/SF
− OpEx
−$15.3K −$7.31/SF
NOI
$35.7K $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%
$713,660
Cap Rate 7%
$509,757
Cap Rate 9%
$396,478
Alternative Uses
Best Use
Multifamily LT 5
$509.8K
$446.0K – $594.7K
NOI $35,683 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$469.9K
$411.1K – $548.2K
NOI $32,890 @ 7.0% cap · market cap 5.06%
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
Location Intelligence
Trade Area within ½ mile
6,626
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
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 - Three one-bedroom units feature den areas, marble baths, granite kitchens, and hardwood flooring.
Where is this triplex located?
The property is located at 808 S 8TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three one‑bedroom units, each with a den area; 2,091‑square‑foot triplex with marble baths and granite kitchens; Hardwood floors throughout the property
