Residential Income Property with
New
For Sale
$499,000
1 CHRISTIAN STREET Unit 26L, Philadelphia, PA 19147
Multi-level residence with private patio, remodeled kitchen, river outlook, and dedicated garage parking.
Property Size1,500 SF
Days on Market5
Property Features for 1 CHRISTIAN STREET Unit 26L
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,314
Amenities
community courtyard
patio
fireplace
washer/dryer
Building Details
Building Size
1,500 SF
Year Built
1980
Listing Agency:
KW Empower
Listed By:
Paul Chin · License #RS229203
(267) 210-0488
Source:
Patmckennarealtors
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 20 at 9:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Empower
Investment Insights
Based on property information with market context.
Built in 1980, this multi-level residential property provides two bedrooms, one full bath, and one half bath across a practical vertical layout. The main living level includes a fireplace, closet, and large front window, while the dining and kitchen level opens to broad window coverage facing Columbus Blvd and the Delaware River. The kitchen has updated cabinetry, appliances, and custom tilework. A half bath, washer/dryer closet, and HVAC closet are also located on this level.
The upper floor contains the primary bedroom with two windows and two closets, a second bedroom, and a full bath finished with custom tile, a quartz vanity, and updated lighting. Additional features include a private patio with stone pavers, garage parking, and lower-level crawl-space storage. The property offers access to I-95 and area bridges and is within the Meredith School Catchment zone.
The upper floor contains the primary bedroom with two windows and two closets, a second bedroom, and a full bath finished with custom tile, a quartz vanity, and updated lighting. Additional features include a private patio with stone pavers, garage parking, and lower-level crawl-space storage. The property offers access to I-95 and area bridges and is within the Meredith School Catchment zone.
Key Highlights
- Two‑bedroom, 1.5‑bath residential income property
- Built in 1980 with a multi‑level interior layout
- Remodeled kitchen with new cabinets, appliances, and custom tile
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
$23,594
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
4.73%
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%
$471,880
$471.9K
Cap Rate 7%
$337,057
$337.1K
Cap Rate 9%
$262,156
$262.2K
Market Conditions
NOI Build-Up for 1,500 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
$45.5K $30.36/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$42.9K $28.60/SF
− OpEx
−$19.3K −$12.87/SF
NOI
$23.6K $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%
$471,880
Cap Rate 7%
$337,057
Cap Rate 9%
$262,156
Alternative Uses
Best Use
Apartment 5plus
$337.1K
$294.9K – $393.2K
NOI $23,594 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$365.7K
$320.0K – $426.6K
NOI $25,597 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,415
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Multi-level residence with private patio, remodeled kitchen, river outlook, and dedicated garage parking.
Where is this residential income property located?
The property is located at 1 CHRISTIAN STREET Unit 26L Philadelphia, PA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑bedroom, 1.5‑bath residential income property; Built in 1980 with a multi‑level interior layout; Remodeled kitchen with new cabinets, appliances, and custom tile
