Turnkey Triplex Income
PHILADELPHIA, PA 19132 Philadelphia, PA 19132
Philadelphia, PA, 19132
$495,000
For Sale
$495,000
MULTI_FAMILY - PHILADELPHIA, PA
Property Size2,830 SF
Price / SF$174.91
Days on Market26
Property Features
General Information
- Property type
- Residential Multi Family
- Property subtype
- Townhouse
- Standard status
- Active
- Size
- 2,830 SF
Building Details
- Year built
- 1915
Listing Agency
BHHS Fox & Roach Haverford Sales Office
(610) 649-4500
PA
Listed by
Robin Gordon · License #AB049690L
(610) 246-2280
Added: Jun 24 Checked: Jul 19 at 5:06 pm
MLS# PAPH2639922
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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.
2349 Park Avenue is a well-maintained three-unit triplex offered as a turnkey income-producing property. The building features two two-bedroom units and one three-bedroom unit, providing a straightforward mix for rental demand.
Located in Philadelphia (19132), the property is described as steps from Temple University’s main campus, supporting consistent interest in the immediate area for well-kept rental units. The listing also states a 7.5% cap rate.
For investors or buyers seeking an income-generating residential asset, the current configuration offers flexibility across unit sizes while maintaining the convenience of a compact, three-unit structure.
Located in Philadelphia (19132), the property is described as steps from Temple University’s main campus, supporting consistent interest in the immediate area for well-kept rental units. The listing also states a 7.5% cap rate.
For investors or buyers seeking an income-generating residential asset, the current configuration offers flexibility across unit sizes while maintaining the convenience of a compact, three-unit structure.
Key Highlights
- Triplex built in 1915 (2349 Park Avenue)
- 3‑unit rental mix: two 2‑bedroom units and one 3‑bedroom unit
- Listed as a 7.5% cap rate income‑producing property
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.9k | $30.36 |
| − Vacancy | −$5.0k | −$1.76 |
| EGI | $80.9k | $28.60 |
| − OpEx | −$36.4k | −$12.87 |
| NOI | $44.5k | $15.73 |
2,830 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$689.9K
$603.7K – $804.9K
NOI $48,294 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$635.9K
$556.4K – $741.9K
NOI $44,515 @ 7.0% cap · market cap 8.99%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained three-unit triplex with two two-bedroom units and one three-bedroom unit near Temple University.
Where is this triplex located?
The property is located at Philadelphia, PA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Triplex built in 1915 (2349 Park Avenue); 3‑unit rental mix: two 2‑bedroom units and one 3‑bedroom unit; Listed as a 7.5% cap rate income‑producing property
