Corner 5-Unit Apartment
For Sale
$1,166,000
1200 South 10th Street, Philadelphia, PA 19147
Fully occupied multifamily property with separate gas and electric service and in-unit laundry.
Property Size3,960 SF
Price / SF$294.44
Days on Market465
Property Features for 1200 South 10th Street
General Information
Standard status
Active
Size
3,960 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 1BR/1BA, 1 x 2BR/1BA, 1 x Large Studio
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$7,838
Amenities
washer and dryers
hardwood floors
No
Other
No Pool
Above Grade, Below Grade
Building Details
Year Built
1920
Buildings
1
Listing Agency:
RE/MAX One Realty
(215) 327-3156
Listed By:
Ricardo N Silva · License #RS296395
(215) 327-3156
Source:
Compass
Added: May 23, 2025
Changed: Aug 29
Last Checked: Aug 29 at 1:47PM
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 RE/MAX One Realty
Investment Insights
Based on property information with market context.
This 5-unit apartment building contains three one-bedroom, one-bath apartments, one two-bedroom, one-bath apartment, and a large studio with a bathroom. The 3,960-square-foot property was built in 1920 and features hardwood flooring, three-piece bathrooms, and washer and dryer units in every apartment. Its corner configuration provides natural light throughout the building, while separate gas and electric service supports unit-level utility metering. All units are currently occupied, and the property is zoned RSA5.
The building is located in Passyunk Square at 1200 South 10th Street, directly across from Capitolo Park. Geno’s and Pat’s Steaks are less than two blocks away, with restaurants, shops, and public transportation in the surrounding area. Philadelphia’s 19147 area and the Philadelphia City School District serve the property.
The building is located in Passyunk Square at 1200 South 10th Street, directly across from Capitolo Park. Geno’s and Pat’s Steaks are less than two blocks away, with restaurants, shops, and public transportation in the surrounding area. Philadelphia’s 19147 area and the Philadelphia City School District serve the property.
Key Highlights
- 5‑unit apartment building with 3,960 SF, built in 1920
- Unit mix includes 3 one‑bedroom units, 1 two‑bedroom unit, and 1 large studio
- All units include washer and dryer units, hardwood floors, and three‑piece bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,289
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,245,780
$1.2M
Cap Rate 7%
$889,843
$889.8K
Cap Rate 9%
$692,100
$692.1K
Market Conditions
NOI Build-Up for 3,960 SF
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.
Gross rent
$120.2K $30.36/SF
− Vacancy
−$7.0K −$1.76/SF
EGI
$113.3K $28.60/SF
− OpEx
−$51.0K −$12.87/SF
NOI
$62.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,245,780
Cap Rate 7%
$889,843
Cap Rate 9%
$692,100
Alternative Uses
Best Use
Apartment 5plus
$889.8K
$778.6K – $1.04M
NOI $62,289 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$965.4K
$844.7K – $1.13M
NOI $67,577 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,827
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
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 - Fully occupied multifamily property with separate gas and electric service and in-unit laundry.
Where is this apartment building located?
The property is located at 1200 South 10th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,166,000.
What are key features of this property?
This property features: 5‑unit apartment building with 3,960 SF, built in 1920; Unit mix includes 3 one‑bedroom units, 1 two‑bedroom unit, and 1 large studio; All units include washer and dryer units, hardwood floors, and three‑piece bathrooms
