Queen Village 6-Unit Apartment
610 S AMERICAN STREET, Philadelphia, PA 19147
CommercialSale - PHILADELPHIA, PA
Property size:
6,000 SFLot size:
0.14 AcresPrice / SF:
$254/SF- Added:
- Mar 7, 2025
- Days on Market:
- 445
- Last Refresh:
- May 26 at 5:06 pm
Property Features for 610 S AMERICAN STREET
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 6,000 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Annual Amount
- 13998
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1950
- Number of units
- 6
- Architectural style
- Other
Listing agent Patrick Conway (215) 266-1537
Listing office BHHS Fox & Roach Center City-Society Hill 530 Walnut Street, Suite 480, PA (215) 627-6005
Listing date Mar 7, 2025
MLS# PAPH2454398
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
- Fully occupied 6‑unit apartment building in Queen Village.
- Located in the Award Winning Meredith School Catchment.
- Large lot size (27x100) with over 6000 sq. ft. and RMI zoning offering multiple development possibilities (condos, single family).
- All units are self‑contained with open floor plans, eat‑in kitchens, washer + dryer, and Central Air.
- Finished lower level with flexible space, powder room, storage, and bonus room.
- Large shared community yard and well‑maintained building with two separate stairwells.
Overview
Located on a tree-lined block in Philadelphia's Queen Village, this is a 6-unit apartment building. The property is zoned RMI and situated on a 27x100 lot with over 6000 square feet. The building contains two 1-bedroom, 1-bath apartments and four 2-bedroom, 1-bath units, all self-contained. Each unit features an open floor plan, eat-in kitchen, sizable bedrooms, large windows, washer and dryer, and central air. The building includes two separate stairwells and a rear shared community yard. The finished lower level offers flexible space, including a powder room, separate mechanical room, large storage room, and a bonus room. The property can be maintained as an income-producing apartment building, converted to condos, or transformed into a single-family home. The property is located in the Meredith School Catchment. Queen Village offers cafes, restaurants, parks, playgrounds, dog walks, and a farmer's market, with easy access to major highways and bridges.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.05M
NOI $94,377 @ 9.00% cap · cautious / downside scenario
Moderate
$1.35M
NOI $94,377 @ 7.00% cap · market / base-case scenario
Aggressive
$1.89M
NOI $94,377 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $182.2k | $30.36 |
| − Vacancy | −$10.6k | −$1.76 |
| EGI | $171.6k | $28.60 |
| − OpEx | −$77.2k | −$12.87 |
| NOI | $94.4k | $15.73 |
6,000 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.57M
NOI $94,377 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.46M
$1.28M – $1.71M
NOI $102,389 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Mortgage Line Financial
Loan Service
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.14706
- Latitude
- 39.94095
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Fully occupied 6-unit apartment building in Queen Village, Philadelphia.
Where is this apartment building located?
The property is located at 610 S AMERICAN STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: Fully occupied 6‑unit apartment building in Queen Village.; Located in the Award Winning Meredith School Catchment.; Large lot size (27x100) with over 6000 sq. ft. and RMI zoning offering multiple development possibilities (condos, single family).
