PHILADELPHIA, PA 19104 Philadelphia, PA 19104
MULTI_FAMILY - PHILADELPHIA, PA
- Added:
- Apr 8, 2025
- Days on Market:
- 459
- Last Refresh:
- Jul 10 at 9:06 pm
Property Features
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Standard status
- Active
- Size
- 1,772 SF
Building Details
- Year built
- 1915
Listing agent Philly Home Advisors (267) 326-1272
Listing office BHHS Fox & Roach Center City-Society Hill PA (215) 627-6005
Listing date Apr 8, 2025
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.
Located in Philadelphia’s Belmont neighborhood, the property is positioned to benefit from ongoing residential and mixed-use development, as well as institutional investment tied to Drexel University’s westward expansion. Reported annual rental income totals $43,500, with Unit 1 currently rented at $1,635 per month and Unit 2 at $1,910 per month. The property also benefits from a tax abatement with approximately four years remaining. One or both units include subsidized (PHA) rental income, adding stability to the existing cash flow.
Key Highlights
- Fully occupied duplex built in 1915, with in‑unit laundry in both apartments
- Unit 1: 2 bed / 2 bath rented for $1,635 per month
- Unit 2: 3 bed / 3 bath rented for $1,910 per month
Local Financial Insights For Multifamily LT 5
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 | $45.7k | $25.80 |
| − Vacancy | −$2.5k | −$1.42 |
| EGI | $43.2k | $24.38 |
| − OpEx | −$13.0k | −$7.31 |
| NOI | $30.2k | $17.06 |
