Well-Maintained Three-Unit
For Sale
$550,000
Pending
824 S 51ST STREET, Philadelphia, PA 19143
Fully occupied twin property with separately metered apartments, private laundry, dishwashers, and a shared front porch.
Property Size2,336 SF
Days on Market17
Property Features for 824 S 51ST STREET
General Information
Standard status
Pending
Size
2,336 SF
Property subtype
Triplex
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$49,200
Amenities
shared front porch
fenced rear yard
private rear balcony
washer/dryer
dishwasher
ceiling fans
basement storage
Building Details
Year Built
1925
Buildings
1
Construction
Victorian
Listing Agency:
KW Empower
(267) 934-5551
Listed By:
Algernong Allen III · License #1540316
(267) 934-5551
Source:
Cummingsrealtors
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 20 at 4:14AM
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 2,336-square-foot, three-unit twin was built in 1925 and includes one two-bedroom apartment on the first floor plus one-bedroom residences on the second and third floors. Each apartment has one full bathroom, an eat-in kitchen, a living area, a washer and dryer, and a dishwasher. Additional features include hardwood flooring, large windows, ceiling fans, and individually configured interiors. The first-floor unit has basement access and exclusive use of the fenced rear yard, while the top-floor apartment includes a private rear balcony.
The property is fully occupied and has received ongoing maintenance and improvements. Work includes roof and drainage-related projects completed in 2024, 2025, and 2026, along with rear bump-out repairs, selected window replacements, cornice restoration, front mansard roofing replacement, and kitchen and bathroom renovations. The unfinished basement contains mechanical, utility, and storage areas and is served by two sump pumps. Apartment electricity is separately metered. The property is near Baltimore Avenue, Pentridge Station, Clark Park, and SEPTA service including Route 13, Route 52, and the Media/Wawa Regional Rail Line.
The property is fully occupied and has received ongoing maintenance and improvements. Work includes roof and drainage-related projects completed in 2024, 2025, and 2026, along with rear bump-out repairs, selected window replacements, cornice restoration, front mansard roofing replacement, and kitchen and bathroom renovations. The unfinished basement contains mechanical, utility, and storage areas and is served by two sump pumps. Apartment electricity is separately metered. The property is near Baltimore Avenue, Pentridge Station, Clark Park, and SEPTA service including Route 13, Route 52, and the Media/Wawa Regional Rail Line.
Key Highlights
- Three‑unit twin with one 2‑bedroom apartment and two 1‑bedroom apartments
- 2,336 SF property built in 1925
- Fully occupied with each unit offering a washer, dryer, dishwasher, and full bathroom
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
$25,306
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
4.60%
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%
$506,120
$506.1K
Cap Rate 7%
$361,514
$361.5K
Cap Rate 9%
$281,178
$281.2K
Market Conditions
NOI Build-Up for 2,336 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
$39.0K $16.68/SF
− Vacancy
−$2.8K −$1.20/SF
EGI
$36.2K $15.48/SF
− OpEx
−$10.8K −$4.64/SF
NOI
$25.3K $10.83/SF
Area
ZIP 19143
Vacancy
7.22%
Lease Rate
$16.68 /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%
$506,120
Cap Rate 7%
$361,514
Cap Rate 9%
$281,178
Alternative Uses
Best Use
Multifamily LT 5
$361.5K
$316.3K – $421.8K
NOI $25,306 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$321.5K
$281.4K – $375.1K
NOI $22,508 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$800.7K
$700.6K – $934.1K
NOI $56,046 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,914
Businesses Nearby
Explore this area
Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied twin property with separately metered apartments, private laundry, dishwashers, and a shared front porch.
Where is this triplex located?
The property is located at 824 S 51ST STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Three‑unit twin with one 2‑bedroom apartment and two 1‑bedroom apartments; 2,336 SF property built in 1925; Fully occupied with each unit offering a washer, dryer, dishwasher, and full bathroom
