Three-Unit Triplex with CMX-2
For Sale
$400,000
836 CHRISTIAN Street, Philadelphia, PA 19147
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size2,016 SF
Lot Size0.02 Acres
Price / SF$198.41
Days on Market13
Property Features for 836 CHRISTIAN Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Subdivision
PHILADELPHIA (SOUTH)
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
2,016 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
5783
Utilities
Heating system
Forced Air
Building Details
Year built
1915
Number of units
3
Building materials
Masonry, Stucco
Architectural style
Other
Listing Agency:
Target Realty · Century 21 Real Estate
(215) 218-0939
Listed By:
Shengfei Lin · License #RS330620
(215) 218-0939
Added: Aug 17
Last Checked: Aug 29 at 9:06PM
MLS# PAPH2660528
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 2,016-square-foot, three-story masonry and stucco property was built in 1915 and is currently configured with one-bedroom apartment layouts on each floor. The first level includes a living area, kitchen, rear bedroom, side entry, and access to the side and rear yards; the upper levels each provide a kitchen and living room separated from a full bathroom and bedroom by the central stairway. The first floor had previously served as a commercial storefront and may offer a path back to that arrangement, subject to verification.
The property is near the Italian Market at 836 Christian Street in Philadelphia’s 19147 ZIP code and carries CMX-2 zoning. A basement with direct street access provides loading and storage capability, along with three gas meters, three electric meters, and one forced-air heating system serving the building. The property is offered in its present condition, with zoning, permitted uses, licensing, unit count, and occupancy requirements requiring buyer verification.
The property is near the Italian Market at 836 Christian Street in Philadelphia’s 19147 ZIP code and carries CMX-2 zoning. A basement with direct street access provides loading and storage capability, along with three gas meters, three electric meters, and one forced-air heating system serving the building. The property is offered in its present condition, with zoning, permitted uses, licensing, unit count, and occupancy requirements requiring buyer verification.
Key Highlights
- CMX‑2 zoning with a first‑floor layout that previously served as a commercial storefront
- Three‑story building with one‑bedroom apartment layouts on each floor
- 2,016 square feet on a 0.0227‑acre lot
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
$34,403
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
8.60%
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%
$688,060
$688.1K
Cap Rate 7%
$491,471
$491.5K
Cap Rate 9%
$382,256
$382.3K
Market Conditions
NOI Build-Up for 2,016 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
$52.0K $25.80/SF
− Vacancy
−$2.9K −$1.42/SF
EGI
$49.1K $24.38/SF
− OpEx
−$14.7K −$7.31/SF
NOI
$34.4K $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%
$688,060
Cap Rate 7%
$491,471
Cap Rate 9%
$382,256
Alternative Uses
Best Use
Multifamily LT 5
$491.5K
$430.0K – $573.4K
NOI $34,403 @ 7.0% cap · market cap 8.60%
Second Best
Apartment 5plus
$453.0K
$396.4K – $528.5K
NOI $31,711 @ 7.0% cap · market cap 7.93%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-story masonry property with residential layouts, basement street access, and potential first-floor commercial use.
Where is this triplex located?
The property is located at 836 CHRISTIAN Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: CMX‑2 zoning with a first‑floor layout that previously served as a commercial storefront; Three‑story building with one‑bedroom apartment layouts on each floor; 2,016 square feet on a 0.0227‑acre lot
