Triplex Property with Day
New
For Sale
$338,000
89 SPARKS Street, Philadelphia, PA 19120
Multi-Family, PHILADELPHIA, PA
Property Size1,530 SF
Lot Size0.04 Acres
Price / SF$220.92
Days on Market5
Property Features for 89 SPARKS Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking features
On Street
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,530 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
1878
Utilities
Heating system
Electric (Heating), Baseboard
Building Details
Year built
1928
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Chapel Realty Sales · Century 21 Real Estate
(215) 473-7140
Listed By:
Stacey L Alston · License #RS222634L
(267) 246-4856
Added: Sep 18
Last Checked: Sep 22 at 5:06PM
MLS# PAPH2672264
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 1,530-square-foot multifamily property, built in 1928, is constructed with masonry and includes a ground-level day care use with legal use registration. The property is fully occupied, with all units placed on yearly leases. Heating is provided by electric baseboard systems, and parking is available on street.
Located in Philadelphia, the property offers access to transportation, schools, shopping, and Roosevelt Blvd. Showings of the upper floors require 24–48 hours’ notice, while the day care area is available for viewing on weekends or evenings for serious interest.
Located in Philadelphia, the property offers access to transportation, schools, shopping, and Roosevelt Blvd. Showings of the upper floors require 24–48 hours’ notice, while the day care area is available for viewing on weekends or evenings for serious interest.
Key Highlights
- 1,530‑square‑foot multifamily property on 0.0434 acres
- Ground‑level day care with legal use registration
- Fully occupied with all units on yearly leases
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
$16,574
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
4.90%
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%
$331,480
$331.5K
Cap Rate 7%
$236,771
$236.8K
Cap Rate 9%
$184,156
$184.2K
Market Conditions
NOI Build-Up for 1,530 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
$25.5K $16.68/SF
− Vacancy
−$1.8K −$1.20/SF
EGI
$23.7K $15.48/SF
− OpEx
−$7.1K −$4.64/SF
NOI
$16.6K $10.83/SF
Area
ZIP 19120
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%
$331,480
Cap Rate 7%
$236,771
Cap Rate 9%
$184,156
Alternative Uses
Best Use
Multifamily LT 5
$236.8K
$207.2K – $276.2K
NOI $16,574 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$210.6K
$184.3K – $245.7K
NOI $14,742 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$365.5K
$319.8K – $426.4K
NOI $25,584 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 19120, PA
66,177
Population
25,730
Households
2.6
Avg Household Size
35
Median Age
13%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
20,680
Density / Sq Mi
$51,993
Median Household Income
$32,980
Median Earnings
$1,186
Median Rent
$143,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Fully leased multifamily property with a registered ground-level day care use and convenient access to transportation and shopping.
Where is this triplex located?
The property is located at 89 SPARKS Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $338,000.
What are key features of this property?
This property features: 1,530‑square‑foot multifamily property on 0.0434 acres; Ground‑level day care with legal use registration; Fully occupied with all units on yearly leases
