Triplex with Private
For Sale
$575,000
920 E Passyunk Avenue, Philadelphia, PA 19147
Three leased one-bedroom apartments with separate interiors, shared laundry, and tenant-paid utilities.
Property Size1,674 SF
Price / SF$343.49
Days on Market168
Property Features for 920 E Passyunk Avenue
General Information
Standard status
Active
Size
1,674 SF
Property subtype
Multi-Family
Zoning
RM1
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,936
Amenities
common laundry
Unfinished
Natural Gas
Yes
No
Assessor
No Pool
Public
U50
48.00 x 16.00
0.02
Other
99100.00
Building Details
Building Size
1,674 SF
Year Built
1915
Listing Agency:
KW Empower
(609) 744-6614
Listed By:
Brittany Moody
(609) 744-6614
Source:
Thetristaterealestategroup
Added: Mar 16
Changed: Aug 28
Last Checked: Aug 29 at 6:35AM
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 1915 triplex contains three one-bedroom, one-bath apartments within a 1,674-square-foot building. Unit 1 offers a kitchen, full bath, private yard access, and basement storage. Unit 2 includes pine flooring, a front bedroom with two windows, an eat-in kitchen, and a bright living room. Unit 3 also has pine floors, a kitchen, and an updated bath. Common laundry is accessed through exterior storm cellar doors.
The property is located at 920 E Passyunk Avenue in Philadelphia’s Bella Vista area, near restaurants, shops, Passyunk Square, the Italian Market, and public transportation. All three units are leased, with Unit 2’s current term extending through 5/31/2026 before converting to month-to-month occupancy. Tenants pay gas, electric, and hot water costs. The property is zoned RM1.
The property is located at 920 E Passyunk Avenue in Philadelphia’s Bella Vista area, near restaurants, shops, Passyunk Square, the Italian Market, and public transportation. All three units are leased, with Unit 2’s current term extending through 5/31/2026 before converting to month-to-month occupancy. Tenants pay gas, electric, and hot water costs. The property is zoned RM1.
Key Highlights
- Three 1‑bedroom, 1‑bath units in a single triplex
- 1,674 square feet; built in 1915
- Unit 1 includes private yard access and basement storage
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
$28,567
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
4.97%
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%
$571,340
$571.3K
Cap Rate 7%
$408,100
$408.1K
Cap Rate 9%
$317,411
$317.4K
Market Conditions
NOI Build-Up for 1,674 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
$43.2K $25.80/SF
− Vacancy
−$2.4K −$1.42/SF
EGI
$40.8K $24.38/SF
− OpEx
−$12.2K −$7.31/SF
NOI
$28.6K $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%
$571,340
Cap Rate 7%
$408,100
Cap Rate 9%
$317,411
Alternative Uses
Best Use
Multifamily LT 5
$408.1K
$357.1K – $476.1K
NOI $28,567 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$376.2K
$329.1K – $438.9K
NOI $26,331 @ 7.0% cap · market cap 4.58%
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
Location Intelligence
Trade Area within ½ mile
6,030
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three leased one-bedroom apartments with separate interiors, shared laundry, and tenant-paid utilities.
Where is this triplex located?
The property is located at 920 E Passyunk Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Three 1‑bedroom, 1‑bath units in a single triplex; 1,674 square feet; built in 1915; Unit 1 includes private yard access and basement storage
