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    1622 E Passyunk Ave Philadelphia, PA 19148

    For Sale
    $749,900

    MULTI_FAMILY - Other - PHILADELPHIA, PA

    Property size:
    2,484 SF
    Lot size:
    0.03 Acres
    Days on Market:
    74
    Last Refresh:
    Dec 6 at 11:06 pm

    Property Features for 1622 E Passyunk Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Size
    2,484 SF
    Lot size
    0.03 Acres

    Utilities

    Heating system
    Baseboard, Hot Water(Heating)
    Cooling system
    Wall Unit(s)

    Building Details

    Year built
    1915
    Number of units
    4
    Building materials
    Masonry
    Architectural style
    Other

    ALPHA REALTY GROUP INC (215) 463-0777 [email protected]

    Listing agent Michael A Esposito Jr. (215) 463-0777 License #RS272183

    Listing date Sep 24, 2025

    Copyright © 2025 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.

    Overview

    Income-Producing Multifamily in East Passyunk

    This multifamily building, situated in the heart of East Passyunk Avenue in Philadelphia, presents an opportunity for generating income. The property is currently grossing approximately $50,000, reflecting a 5% capitalization rate. The location is central to the singing fountain and the Broad Street Subway line, with proximity to restaurants, cafes, bars, and shopping. The building features separate utilities for each unit and a functional layout. The first-floor unit, tenant-occupied through March 26th, includes private access to the rear yard and basement, which is equipped with a washer and dryer. This unit features a living room, kitchen area, a large bedroom with a walk-in closet, and a hallway bathroom. The second-floor unit is occupied on a month-to-month basis and contains two bedrooms and one bathroom. The third-floor unit, which will be vacant starting August 1st, includes two bedrooms, one bathroom, and a balcony offering views. The property size is 2484 square feet and the lot size is 0.03 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Body World Fitness Gym Discount Transmissions Transmission Shop Discount Transmission Service Transmission Shop

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.16426086
    Latitude
    39.92943192

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    FAQs

    What type of property is this?
    Apartment building - Multifamily property near East Passyunk Ave, Philadelphia, with income potential.
    Where is this apartment building located?
    The property is located at 1622 E Passyunk Ave Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $749,900.
    What are key features of this property?
    This property features: - Income-producing multi-unit building grossing approximately $50K annually.; - Prime location in the heart of East Passyunk Ave, near amenities and transportation.; - Potential for increased rents and sweat equity opportunities.
    (215) 463-0777
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1622 E Passyunk Ave Philadelphia, PA 19148
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