Brick Multifamily with Separate
For Sale
$1,150,000
1010 N 5TH STREET, Philadelphia, PA 19123
Philadelphia semi-detached brick multifamily includes separate utilities, a front studio, multiple bedroom units, and a rear entrance.
Property Size3,686 SF
Price / SF$311.99
Days on Market48
Property Features for 1010 N 5TH STREET
General Information
Standard status
Active
Size
3,686 SF
Property subtype
Commercial
Additional Details
Multifamily Units
4
Amenities
private entrance
huge yard
off-street parking
mini-split AC
Building Details
Year Built
1920
Construction
brick-front
Tenancy
Multi
Listing Agency:
JG Real Estate LLC
(856) 522-9291
Listed By:
Max Tanenbaum
(856) 522-9291
Source:
Cummingsrealtors
Added: Jun 27
Changed: Aug 12
Last Checked: Aug 12 at 5:57AM
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 JG Real Estate LLC
Investment Insights
Based on property information with market context.
This classic brick-front, Philadelphia semi-detached multifamily property offers a functional unit mix and separate utilities. The layout includes a front studio, two front units with bedrooms, and a spacious bi-level rear unit with a private entrance. A large yard and off-street parking support the property’s day-to-day livability. Several units feature some updated kitchens and bathrooms, and the building has been maintained as a long-term rental.
The property is equipped with natural gas boilers and gas water heaters, along with mini-split air conditioning. There is also a noted history of an internal connection to a renovated non-conforming studio (a 5th unit) via interior stairs, which may support conversion possibilities.
The offering notes an existing proven rental history and that some units have been renovated over time as they became vacant, while remaining legacy units may allow for continued value through future renovations. The memorandum is available upon request, and all financial and operating figures should be independently verified as part of due diligence.
The property is equipped with natural gas boilers and gas water heaters, along with mini-split air conditioning. There is also a noted history of an internal connection to a renovated non-conforming studio (a 5th unit) via interior stairs, which may support conversion possibilities.
The offering notes an existing proven rental history and that some units have been renovated over time as they became vacant, while remaining legacy units may allow for continued value through future renovations. The memorandum is available upon request, and all financial and operating figures should be independently verified as part of due diligence.
Key Highlights
- 1920‑built Philadelphia brick‑front semi‑detached multifamily with separate utilities
- Unit layout includes a front studio, two 2‑bedroom front units, and a spacious 2‑bedroom rear unit with private entrance
- Large yard plus off‑street parking
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
$57,979
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
5.04%
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%
$1,159,580
$1.2M
Cap Rate 7%
$828,271
$828.3K
Cap Rate 9%
$644,211
$644.2K
Market Conditions
NOI Build-Up for 3,686 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
$111.9K $30.36/SF
− Vacancy
−$6.5K −$1.76/SF
EGI
$105.4K $28.60/SF
− OpEx
−$47.4K −$12.87/SF
NOI
$58.0K $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%
$1,159,580
Cap Rate 7%
$828,271
Cap Rate 9%
$644,211
Alternative Uses
Best Use
Apartment 5plus
$828.3K
$724.7K – $966.3K
NOI $57,979 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$898.6K
$786.3K – $1.05M
NOI $62,901 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Philadelphia semi-detached brick multifamily includes separate utilities, a front studio, multiple bedroom units, and a rear entrance.
Where is this apartment building located?
The property is located at 1010 N 5TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 1920‑built Philadelphia brick‑front semi‑detached multifamily with separate utilities; Unit layout includes a front studio, two 2‑bedroom front units, and a spacious 2‑bedroom rear unit with private entrance; Large yard plus off‑street parking
