Duplex with Updated Two-Bed
1101 Magee Avenue Philadelphia, PA 19111
1101 Magee Avenue, Philadelphia, PA, 19111
$279,000
For Sale
$279,000
Duplex offers two updated 2-bedroom apartments, with separate electric metering for the second-floor unit.
Property Size1,700 SF
Price / SF$164.12
Days on Market116
Property Features for 1101 Magee Avenue
General Information
- Standard status
- Active
- Size
- 1,700 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1950
Listing agency
20/20 Real Estate - Bensalem
(215) 307-0710
Listed by
Paul M Bechta · License #RS331182
(215) 307-0710
Source
Compass
Added: Mar 30 Updated: Jul 21 at 8:43PM Checked: Jul 22 at 7:11AM
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 20/20 Real Estate - Bensalem
Investment Insights
Based on property information with market context.
This duplex at 1101 Magee Ave includes two updated 2-bedroom units, with one unit on the first floor and one unit on the second floor. The first-floor unit is currently tenant-occupied and is scheduled to be delivered vacant at the end of April, supporting either immediate occupancy or repositioning. Heating is electric: the first-floor unit is equipped with electric forced air heat, while the second-floor unit features electric baseboard heat. The second-floor unit has its own separate electric meter, while the first floor and basement share a meter.
The basement was partially finished with the intention of creating a studio apartment, which may allow for additional living space or future income potential. The property is being sold as-is.
This offering is best suited for cash or hard money buyers.
The basement was partially finished with the intention of creating a studio apartment, which may allow for additional living space or future income potential. The property is being sold as-is.
This offering is best suited for cash or hard money buyers.
Key Highlights
- Duplex built in 1950 with two updated 2‑bedroom units—one on the first floor and one on the second floor
- Second‑floor unit has electric baseboard heat and a separate electric meter
- First‑floor unit uses electric forced air heat and is currently tenant‑occupied but will be delivered vacant at the end of April
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 | $33.7k | $19.80 |
| − Vacancy | −$1.1k | −$0.62 |
| EGI | $32.6k | $19.18 |
| − OpEx | −$9.8k | −$5.75 |
| NOI | $22.8k | $13.43 |
1,700 SF · lease $19.80/SF/yr · vacancy 3.13% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$326.1K
$285.3K – $380.4K
NOI $22,825 @ 7.0% cap · market cap 8.18%
Second Best
Apartment 5plus
$300.7K
$263.1K – $350.8K
NOI $21,048 @ 7.0% cap · market cap 7.54%
Theoretical Best
Office A
$515.4K
$451.0K – $601.3K
NOI $36,080 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex offers two updated 2-bedroom apartments, with separate electric metering for the second-floor unit.
Where is this duplex located?
The property is located at 1101 Magee Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Duplex built in 1950 with two updated 2‑bedroom units—one on the first floor and one on the second floor; Second‑floor unit has electric baseboard heat and a separate electric meter; First‑floor unit uses electric forced air heat and is currently tenant‑occupied but will be delivered vacant at the end of April
