Occupied 3-Unit Mixed-Use
For Sale
$259,000
835 East Chelten Avenue, Philadelphia, PA 19138
RM1-zoned building with separate utilities and main-level access.
Property Size1,915 SF
Price / SF$135.25
Days on Market327
Property Features for 835 East Chelten Avenue
General Information
Standard status
Active
Size
1,915 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$1,783
Amenities
No
Level Entry - Main, No Stairs
No Pool
Above Grade, Below Grade
Building Details
Year Built
1915
Buildings
1
Listing Agency:
KW Empower
Listed By:
Stephen M Kennedy · License #RS330775
(267) 614-3033
Source:
Compass
Added: Oct 17, 2025
Changed: Aug 31
Last Checked: Aug 29 at 6:41PM
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 3-unit mixed-use property offers 1,915 square feet across a configuration with separate utilities, functional floor plans, spacious bedrooms, and substantial closet storage. Level entry at the main floor provides access without stairs. Built in 1915, the building is fully occupied and includes above-grade and below-grade areas.
The property is near La Salle University and within 1 mile of bus and metro/subway service. Roosevelt Boulevard, I-76, and I-95 provide regional roadway access, while the airport is less than 10 miles away. Street parking and foot traffic are present outside the building. The property is located in Philadelphia’s 19138 area and is zoned RM1.
The property is near La Salle University and within 1 mile of bus and metro/subway service. Roosevelt Boulevard, I-76, and I-95 provide regional roadway access, while the airport is less than 10 miles away. Street parking and foot traffic are present outside the building. The property is located in Philadelphia’s 19138 area and is zoned RM1.
Key Highlights
- 3‑unit mixed‑use building with full occupancy
- 1,915 square feet; built in 1915
- Separate utilities serving the units
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
$21,644
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
8.36%
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%
$432,880
$432.9K
Cap Rate 7%
$309,200
$309.2K
Cap Rate 9%
$240,489
$240.5K
Market Conditions
NOI Build-Up for 1,915 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
$34.5K $18.00/SF
− Vacancy
−$3.6K −$1.85/SF
EGI
$30.9K $16.15/SF
− OpEx
−$9.3K −$4.84/SF
NOI
$21.6K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /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%
$432,880
Cap Rate 7%
$309,200
Cap Rate 9%
$240,489
Alternative Uses
Best Use
Multifamily LT 5
$466.8K
$408.5K – $544.7K
NOI $32,679 @ 7.0% cap · market cap 12.62%
Second Best
Apartment 5plus
$430.3K
$376.5K – $502.0K
NOI $30,122 @ 7.0% cap · market cap 11.63%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
Explore this area
Business Placement
Demographics for 19138, PA
31,816
Population
13,836
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
89%
High-School Grad
1.8 sq mi
ZIP Area
17,676
Density / Sq Mi
$51,586
Median Household Income
$36,956
Median Earnings
$1,172
Median Rent
$167,300
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 - RM1-zoned building with separate utilities and main-level access.
Where is this triplex located?
The property is located at 835 East Chelten Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 3‑unit mixed‑use building with full occupancy; 1,915 square feet; built in 1915; Separate utilities serving the units
