4-Unit Apartment
For Sale
$1,500,000
1023-25 WALLACE ST, Philadelphia, PA 19123
Four-unit residential property offered in as-is condition with multiple apartments for rental use.
Property Size4,444 SF
Price / SF$337.53
Days on Market48
Property Features for 1023-25 WALLACE ST
General Information
Standard status
Active
Size
4,444 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
4
Building Details
Buildings
1
Stories
3
Listing Agency:
Premium Realty Castor Inc
(215) 725-7080
Listed By:
Siew Wong · License #RS330220
(267) 237-1692
Source:
360
Added: Sep 4
Changed: Oct 6
Last Checked: Oct 20 at 7:57PM
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 Premium Realty Castor Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,444-square-foot multifamily property contains four apartments in a multi-level building and is being offered in as-is condition. The configuration provides separate residential spaces within one asset, subject to the property’s existing layout and condition.
Located at 1023-25 Wallace St in Philadelphia, Pennsylvania 19123, the property is classified as a quadplex. Its four-unit arrangement may suit an owner seeking a residential building with multiple apartments or an investor evaluating a small multifamily asset.
Located at 1023-25 Wallace St in Philadelphia, Pennsylvania 19123, the property is classified as a quadplex. Its four-unit arrangement may suit an owner seeking a residential building with multiple apartments or an investor evaluating a small multifamily asset.
Key Highlights
- Four apartments in a single multifamily property
- 4,444 square feet of building area
- Offered in as‑is condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,836
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,516,720
$1.5M
Cap Rate 7%
$1,083,371
$1.1M
Cap Rate 9%
$842,622
$842.6K
Market Conditions
NOI Build-Up for 4,444 SF
Gross rent
$114.7K $25.80/SF
− Vacancy
−$6.3K −$1.42/SF
EGI
$108.3K $24.38/SF
− OpEx
−$32.5K −$7.31/SF
NOI
$75.8K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,516,720
Cap Rate 7%
$1,083,371
Cap Rate 9%
$842,622
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$948.0K – $1.26M
NOI $75,836 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$998.6K
$873.8K – $1.17M
NOI $69,902 @ 7.0% cap · market cap 4.66%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,152
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
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property offered in as-is condition with multiple apartments for rental use.
Where is this quadplex located?
The property is located at 1023-25 WALLACE ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Four apartments in a single multifamily property; 4,444 square feet of building area; Offered in as‑is condition
