Three-Unit Multifamily with In-Unit
For Sale
$450,000
811 N PRESTON Street, Philadelphia, PA 19104
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size2,348 SF
Lot Size0.06 Acres
Price / SF$191.65
Days on Market48
Property Features for 811 N PRESTON Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Appliances
Built-In Microwave, Dryer - Gas, Stove, Washer, Refrigerator
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Special listing conditions
Short Sale
Standard status
Active
Size
2,348 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
5170
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1915
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
Shawn Washington · License #RS316570
(610) 766-1682
Added: Jun 15
Last Checked: Aug 1 at 5:06PM
MLS# PAPH2637376
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a 3-unit multifamily property at 811 N Preston Street, presented fully turnkey and currently occupied. The building was completely rehabbed in 2020 and offers three self-contained units. Each unit includes two bedrooms and one full bathroom, along with a dedicated in-unit washer and dryer for tenant convenience. Updates carried through the renovation include durable flooring, updated kitchens and bathrooms, and individual climate control with central air, plus abundant natural light.
The property is located in Philadelphia’s 19104 area, with the listing describing proximity to the University City district. The remarks cite access to Drexel University, the University of Pennsylvania, and Penn Presbyterian Medical Center, along with public transit options, nearby bike lanes, and proximity to Lancaster Avenue trolley lines.
For tenants and operators, the straightforward unit mix and in-unit laundry reduce shared-laundry friction and support everyday usability. The fully finished, currently occupied configuration may appeal to buyers looking for a ready-to-manage building, and the listing also notes an unfinished basement that could offer additional space for future customization, subject to approvals.
The property is located in Philadelphia’s 19104 area, with the listing describing proximity to the University City district. The remarks cite access to Drexel University, the University of Pennsylvania, and Penn Presbyterian Medical Center, along with public transit options, nearby bike lanes, and proximity to Lancaster Avenue trolley lines.
For tenants and operators, the straightforward unit mix and in-unit laundry reduce shared-laundry friction and support everyday usability. The fully finished, currently occupied configuration may appeal to buyers looking for a ready-to-manage building, and the listing also notes an unfinished basement that could offer additional space for future customization, subject to approvals.
Key Highlights
- 3‑unit multi‑family building at 811 N. Preston Street, built in 1915
- All three units are currently occupied, providing immediate rental income
- Each unit features 2 bedrooms and 1 full bathroom, plus an in‑unit washer and gas dryer
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 | $60.6k | $25.80 |
| − Vacancy | −$3.3k | −$1.42 |
| EGI | $57.2k | $24.38 |
| − OpEx | −$17.2k | −$7.31 |
| NOI | $40.1k | $17.06 |
2,348 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$572.4K
$500.9K – $667.8K
NOI $40,068 @ 7.0% cap · market cap 8.90%
Second Best
Apartment 5plus
$527.6K
$461.7K – $615.6K
NOI $36,933 @ 7.0% cap · market cap 8.21%
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
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
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 - Three self-contained units, all with in-unit washer and dryer, renovated in 2020 and currently occupied.
Where is this triplex located?
The property is located at 811 N PRESTON Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3‑unit multi‑family building at 811 N. Preston Street, built in 1915; All three units are currently occupied, providing immediate rental income; Each unit features 2 bedrooms and 1 full bathroom, plus an in‑unit washer and gas dryer
