Residential Income Property with
For Sale
$625,000
112 N 2ND STREET Unit 5B2, Philadelphia, PA 19106
A three-bedroom residence pairs loft-style interiors with deeded parking in an underground garage.
Property Size1,270 SF
Price / SF$492.13
Days on Market40
Property Features for 112 N 2ND STREET Unit 5B2
General Information
Standard status
Active
Size
1,270 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Units
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$6,159
Amenities
private balcony
in-unit laundry
gated courtyard
Building Details
Building Size
1,270 SF
Year Built
2006
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Sarah Dickinson · License #RS355796
(631) 793-6105
Source:
Patmckennarealtors
Added: Sep 21
Changed: Oct 28
Last Checked: Oct 30 at 8:20PM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
This 1,270-square-foot residence has three bedrooms, an open living and dining area, and a private balcony facing 2nd Street. Exposed concrete and ductwork, high ceilings, and wide-plank hardwood floors establish its loft-inspired interior. The kitchen includes stainless steel appliances, granite counters, extensive cabinetry, and a breakfast bar. The primary suite has two closets and an en-suite bathroom with a glass-enclosed shower; two further bedrooms, in-unit laundry, and deeded garage parking complete the layout. The building was constructed in 2006.
The home is at 112 N 2nd Street in Philadelphia’s Old City. Building features include elevator access from the underground garage and a landscaped, gated courtyard. Restaurants, coffee shops, galleries, boutiques, and historic landmarks are nearby.
The home is at 112 N 2nd Street in Philadelphia’s Old City. Building features include elevator access from the underground garage and a landscaped, gated courtyard. Restaurants, coffee shops, galleries, boutiques, and historic landmarks are nearby.
Key Highlights
- Three‑bedroom, 1,270‑square‑foot residence
- Deeded parking space in the underground garage, with elevator access
- Private balcony overlooking 2nd Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,976
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$399,520
$399.5K
Cap Rate 7%
$285,371
$285.4K
Cap Rate 9%
$221,956
$222.0K
Market Conditions
NOI Build-Up for 1,270 SF
Gross rent
$38.6K $30.36/SF
− Vacancy
−$2.2K −$1.76/SF
EGI
$36.3K $28.60/SF
− OpEx
−$16.3K −$12.87/SF
NOI
$20.0K $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 Rate 5%
$399,520
Cap Rate 7%
$285,371
Cap Rate 9%
$221,956
Alternative Uses
Best Use
Apartment 5plus
$285.4K
$249.7K – $332.9K
NOI $19,976 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$309.6K
$270.9K – $361.2K
NOI $21,672 @ 7.0% cap · market cap 3.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,253
Businesses Nearby
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Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A three-bedroom residence pairs loft-style interiors with deeded parking in an underground garage.
Where is this residential income property located?
The property is located at 112 N 2ND STREET Unit 5B2 Philadelphia, PA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Three‑bedroom, 1,270‑square‑foot residence; Deeded parking space in the underground garage, with elevator access; Private balcony overlooking 2nd Street
