Fully Leased Eight-Unit
For Sale
$2,250,000
119 West Susquehanna Avenue, Philadelphia, PA 19122
An eight-unit multiplex is fully leased and features recently updated units with modernized interiors.
Property Size4,500 SF
Price / SF$500
Days on Market180
Property Features for 119 West Susquehanna Avenue
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Multi-Family / Fee Simple
Occupancy
100%
Additional Details
Multifamily Units
8
Building Details
Year Built
1915
Tenancy
Multi
Listing Agency:
BHHS Fox & Roach The Harper at Rittenhouse Square
(215) 546-0550
Listed By:
Reid J Rosenthal · License #RS226037L
(215) 546-0550
Source:
Compass
Added: Feb 1
Changed: Jul 22
Last Checked: Jul 31 at 10:59AM
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 BHHS Fox & Roach The Harper at Rittenhouse Square
Investment Insights
Based on property information with market context.
This fully leased eight-unit multiplex is offered as a residential income property. The units have recently been updated, with modernized interiors intended to reduce near-term capital expenditures. The property is described as well maintained.
The building is located at 119 West Susquehanna Avenue in Philadelphia (MLS Area 19122). The listing notes the surrounding area is continuing to grow and revitalize.
At approximately 4,500 square feet, the asset is configured as a single multiplex containing eight separate units, all currently leased.
The building is located at 119 West Susquehanna Avenue in Philadelphia (MLS Area 19122). The listing notes the surrounding area is continuing to grow and revitalize.
At approximately 4,500 square feet, the asset is configured as a single multiplex containing eight separate units, all currently leased.
Key Highlights
- Fully leased eight‑unit multiplex
- Recently updated units with modernized interiors
- Interior features include ceiling fans, combination kitchen/dining, and combination dining/living
Financial Insights For Apartment 5plus
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 | $136.6k | $30.36 |
| − Vacancy | −$7.9k | −$1.76 |
| EGI | $128.7k | $28.60 |
| − OpEx | −$57.9k | −$12.87 |
| NOI | $70.8k | $15.73 |
4,500 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$884.8K – $1.18M
NOI $70,783 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.10M
$959.9K – $1.28M
NOI $76,792 @ 7.0% cap · market cap 3.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,778
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
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 - An eight-unit multiplex is fully leased and features recently updated units with modernized interiors.
Where is this apartment building located?
The property is located at 119 West Susquehanna Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Fully leased eight‑unit multiplex; Recently updated units with modernized interiors; Interior features include ceiling fans, combination kitchen/dining, and combination dining/living
