Mixed-Use Corner Property with
For Sale
$849,900
1500 S 6TH Street, Philadelphia, PA 19147
Multi-Family, PHILADELPHIA, PA
Property Size3,654 SF
Lot Size0.03 Acres
Price / SF$232.59
Days on Market30
Property Features for 1500 S 6TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Dining Room, Basement
Parking features
On Street
Interior features
2nd Kitchen, Additional Stairway, Bathroom - Tub Shower, Built-Ins, Breakfast Area, Ceiling Fan(s), Chair Railings, Combination Dining/Living, Crown Moldings, Dining Area, Flat, Floor Plan - Open, Kitchen - Eat-In
Appliances
Cooktop, Dryer, Dryer - Front Loading, Exhaust Fan, Extra Refrigerator/Freezer, Instant Hot Water, Range Hood, Refrigerator, Stainless Steel Appliances, Washer, WaterHeater
Subdivision
DICKINSON NARROWS
Elementary school
ELIZA B. KIRKBRIDE
Middle school
ELIZA B. KIRKBRIDE
High school
HORACE FURNESS
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
3,654 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
1940
Utilities
Heating system
Forced Air, Central
Cooling system
Ceiling Fan(s), Window Unit(s), Central Air
Amenities
tile floors
ceiling fans
natural lights
automatic front security door gate
small office
Building Details
Year built
1915
Number of units
3
Building materials
Masonry, Copper Plumbing, Concrete, CPVC/PVC, Galvanized Plumbing, Mixed, Mixed Plumbing, Stucco, Tile
Architectural style
Other
Listing Agency:
Century 21 Advantage Gold-South Philadelphia · Century 21 Real Estate
(215) 465-1400
Listed By:
Phong D Lam · License #RS307378
(267) 918-1880
Added: Jul 31
Changed: Aug 19
Last Checked: Aug 29 at 8:06AM
MLS# PAPH2654576
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 3,654-square-foot mixed-use property combines a street-level coin laundromat with two apartment units above. The commercial space includes 26 dryers, 25 washers, a refreshment refrigerator, tile flooring, ceiling fans, natural light, a small office, and a security gate. Separate electric meters serve the laundromat and each apartment unit.
The second-floor residence offers three bedrooms, one full bathroom, an eat-in kitchen, living room, deck access, hardwood flooring, and central air with gas heat installed in 2022. The third-floor apartment includes a large primary bedroom, full bathroom, kitchen, dining area, living room, composite wood deck, and central air with electric heat installed in 2023. An unfinished basement provides storage and houses water-heating equipment.
The property is zoned CMX-1 Mixed-Use and sits at 1500 S 6TH Street in Philadelphia’s Dickinson Narrows area. SEPTA bus stops and public transportation are accessible nearby, with shopping, supermarkets, restaurants, parks, and Penn’s Landing in the surrounding area. The property is offered in AS-IS, WHERE-IS condition.
The second-floor residence offers three bedrooms, one full bathroom, an eat-in kitchen, living room, deck access, hardwood flooring, and central air with gas heat installed in 2022. The third-floor apartment includes a large primary bedroom, full bathroom, kitchen, dining area, living room, composite wood deck, and central air with electric heat installed in 2023. An unfinished basement provides storage and houses water-heating equipment.
The property is zoned CMX-1 Mixed-Use and sits at 1500 S 6TH Street in Philadelphia’s Dickinson Narrows area. SEPTA bus stops and public transportation are accessible nearby, with shopping, supermarkets, restaurants, parks, and Penn’s Landing in the surrounding area. The property is offered in AS-IS, WHERE-IS condition.
Key Highlights
- 3,654‑square‑foot mixed‑use property on 0.0289 acres
- Street‑level coin laundromat with 26 dryers and 25 washers
- Two upper‑level apartments with decks and separate electric meters
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
$57,476
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
6.76%
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%
$1,149,520
$1.1M
Cap Rate 7%
$821,086
$821.1K
Cap Rate 9%
$638,622
$638.6K
Market Conditions
NOI Build-Up for 3,654 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
$110.9K $30.36/SF
− Vacancy
−$6.4K −$1.76/SF
EGI
$104.5K $28.60/SF
− OpEx
−$47.0K −$12.87/SF
NOI
$57.5K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,149,520
Cap Rate 7%
$821,086
Cap Rate 9%
$638,622
Alternative Uses
Best Use
Apartment 5plus
$821.1K
$718.5K – $957.9K
NOI $57,476 @ 7.0% cap · market cap 6.76%
Second Best
Mixed Use
$620.1K
$542.6K – $723.5K
NOI $43,410 @ 7.0% cap · market cap 5.11%
Theoretical Best
Multifamily LT 5
$890.8K
$779.4K – $1.04M
NOI $62,355 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,241
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?
Mixed-use property - Corner commercial property combining an operating laundromat with two upper-level apartments and separate electric metering.
Where is this mixed-use property located?
The property is located at 1500 S 6TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 3,654‑square‑foot mixed‑use property on 0.0289 acres; Street‑level coin laundromat with 26 dryers and 25 washers; Two upper‑level apartments with decks and separate electric meters
