1108 PINE Street Philadelphia, PA 19107
MULTI_FAMILY - PHILADELPHIA, PA
Property Features for 1108 PINE Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active Under Contract
- Size
- 4,200 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 7872
Utilities
- Heating system
- Forced Air
- Cooling system
- Ductless, Central Air
Building Details
- Year built
- 1968
- Number of units
- 4
- Building materials
- Masonry
Listing agent Michael A. Kelczewski (302) 383-1983
Listing office United Real Estate 150 Allendale Road unit: 2200, Wayne, PA (484) 367-7727
Listing date May 17, 2024
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Investment Insights
Based on property information with market context.
The property is located in the Washington Square West area of Philadelphia, described as directly overlooking Kahn Park. A rear parking space is included, with a stated opportunity for a patio conversion.
The commercial and residential components are both positioned for current operation, supported by the existing residential lease income and the turnkey nature of the recently updated interiors. The offering is also noted as having tax abatement approval in place.
Key Highlights
- 4,200+ SF mixed‑use building built in 1968 with masonry construction and on‑street parking
- 2,500+ SF ground‑level commercial space currently built out as an art gallery
- Residential upstairs: four fully renovated 1‑bedroom/1‑bath apartments, separately metered
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 | $108.4k | $25.80 |
| − Vacancy | −$6.0k | −$1.42 |
| EGI | $102.4k | $24.38 |
| − OpEx | −$30.7k | −$7.31 |
| NOI | $71.7k | $17.06 |
