New Multifamily Asset in
1620-22 N BAILEY STREET, Philadelphia, PA 19121
CommercialSale - PHILADELPHIA, PA
Property size:
6,300 SFLot size:
0.05 AcresPrice / SF:
$190/SF- Added:
- May 11, 2026
- Days on Market:
- 24
- Last Refresh:
- Jun 3 at 4:06 am
Property Features for 1620-22 N BAILEY STREET
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Property condition
- New Construction
- Standard status
- Active
- Size
- 6,300 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 1093
Utilities
- Heating system
- Other (Heating)
- Cooling system
- Ductless
Building Details
- Year built
- 2026
- Number of units
- 6
- Flooring type
- Vinyl
- Roof type
- Rubber
- Architectural style
- Other
Listing agent Valerie Yosef (856) 906-4252
Listing office BHHS Fox & Roach Cherry Hill Home Marketing Center 401 Route 70 East, Suite 101, PA (856) 428-8000
Listing date May 11, 2026
MLS# PAPH2619824
Listing URL
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.
HighLights
- Newly constructed 6‑unit multifamily property, offering low‑maintenance.
- Prime location in a rapidly developing area of Philadelphia, near major hospitals, Fairmount Park, dining, and amenities.
- High‑end finishes throughout, including modern kitchens with Calacatta quartz countertops and stainless steel appliances.
- In‑unit washer/dryers in every apartment and spacious bedroom layouts, enhancing tenant appeal.
- Select units feature premium amenities such as eat‑in kitchen bars, private balconies, walk‑in showers, and roof deck access.
- Additional income potential from two on‑site parking spaces.
Overview
This newly constructed 6-unit multifamily property is located in a rapidly developing section of Philadelphia. The property is positioned approximately 2 miles from major hospitals, a short distance from Fairmount Park, and within walking distance of dining and neighborhood amenities. The building features modern residences with high-end finishes, including contemporary two-tone kitchens, stainless steel appliances, Calacatta quartz countertops, recessed LED lighting, oversized casement windows, and luxury vinyl flooring. Each apartment includes an in-unit washer and dryer. Select units offer eat-in kitchen bars, private balconies, walk-in showers, and access to roof deck space. The property includes spacious bedroom layouts and ample closet space. The property size is 6300 square feet and the lot size is 0.05 acres. There are two on-site parking spaces available for separate lease at $100 per month each. This property is intended for investors seeking low-maintenance new construction with income potential in one of Philadelphia's growing rental corridors.
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 | $191.3k | $30.36 |
| − Vacancy | −$11.1k | −$1.76 |
| EGI | $180.2k | $28.60 |
| − OpEx | −$81.1k | −$12.87 |
| NOI | $99.1k | $15.73 |
6,300 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.42M
$1.24M – $1.65M
NOI $99,096 @ 7.0% cap · market cap 8.26%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.54M
$1.34M – $1.79M
NOI $107,509 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.178459
- Latitude
- 39.980648
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Newly constructed 6-unit multifamily property in a developing Philadelphia location.
Where is this apartment building located?
The property is located at 1620-22 N BAILEY STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Newly constructed 6‑unit multifamily property, offering low‑maintenance.; Prime location in a rapidly developing area of Philadelphia, near major hospitals, Fairmount Park, dining, and amenities.; High‑end finishes throughout, including **modern kitchens with Calacatta quartz countertops and stainless steel appliances**.
