Corner Triplex With Rooftop
For Sale
$1,250,000
920 N 15th Street, Philadelphia, PA 19130
Turnkey corner triplex with three rental units, in-unit laundry, and private outdoor space including a bi-level rooftop deck.
Property Size5,000 SF
Price / SF$250
Days on Market116
Property Features for 920 N 15th Street
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Business Included
Yes
Clear Height
9 ft
Multifamily Units
3
Building Details
Year Built
2022
Tenancy
Multi
Listing Agency:
Howard Hanna Real Estate Services
Listed By:
Haralabos Kiziroglou · License #RS337549
(267) 353-4123
Source:
Deepcreeklake
Added: May 13
Changed: Sep 4
Last Checked: Aug 10 at 9:48AM
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 Howard Hanna Real Estate Services
Investment Insights
Based on property information with market context.
This fully stabilized corner triplex features three rental units and turnkey interior amenities. Unit 1 offers 3 bedrooms, 3 full bathrooms, and a private rear yard. Unit 2 includes 2 bedrooms, 1 full bathroom, and a private balcony. Unit 3 has 2 bedrooms, 2 full bathrooms, and an expansive bi-level rooftop deck.
Across all units, the layout emphasizes open-concept living with oversized windows, hardwood flooring, and 9-foot ceilings. Each unit includes in-unit laundry, video intercom systems, and designer kitchens with custom cabinetry, stainless steel appliances, dishwashers, garbage disposals, and large islands. The bathrooms are described as spa-inspired, and the property includes spacious bedroom layouts.
The property is positioned in Francisville and is described as being steps from Fairmount and local dining, coffee, parks, and retail destinations. Convenient access to Broad Street and the Girard Station is noted for commuting throughout the city. Financials are available upon request.
Across all units, the layout emphasizes open-concept living with oversized windows, hardwood flooring, and 9-foot ceilings. Each unit includes in-unit laundry, video intercom systems, and designer kitchens with custom cabinetry, stainless steel appliances, dishwashers, garbage disposals, and large islands. The bathrooms are described as spa-inspired, and the property includes spacious bedroom layouts.
The property is positioned in Francisville and is described as being steps from Fairmount and local dining, coffee, parks, and retail destinations. Convenient access to Broad Street and the Girard Station is noted for commuting throughout the city. Financials are available upon request.
Key Highlights
- Corner triplex built in 2022 with three rental units and in‑unit laundry
- Unit 1: 3 bed, 3 full bath, plus a private rear yard
- Unit 2: 2 bed, 1 full bath with a private balcony
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
$85,324
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
6.83%
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%
$1,706,480
$1.7M
Cap Rate 7%
$1,218,914
$1.2M
Cap Rate 9%
$948,044
$948.0K
Market Conditions
NOI Build-Up for 5,000 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
$129.0K $25.80/SF
− Vacancy
−$7.1K −$1.42/SF
EGI
$121.9K $24.38/SF
− OpEx
−$36.6K −$7.31/SF
NOI
$85.3K $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%
$1,706,480
Cap Rate 7%
$1,218,914
Cap Rate 9%
$948,044
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,324 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$1.12M
$983.1K – $1.31M
NOI $78,648 @ 7.0% cap · market cap 6.29%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,649
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
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 - Turnkey corner triplex with three rental units, in-unit laundry, and private outdoor space including a bi-level rooftop deck.
Where is this triplex located?
The property is located at 920 N 15th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Corner triplex built in 2022 with three rental units and in‑unit laundry; Unit 1: 3 bed, 3 full bath, plus a private rear yard; Unit 2: 2 bed, 1 full bath with a private balcony
