Four-Unit Mixed-Use
For Sale
$1,225,000
1214 S 15th St, Philadelphia, PA 19146
Recent construction combines three residential apartments with a ground-floor commercial unit and contemporary building features.
Property Size4,000 SF
Price / SF$306.25
Days on Market71
Property Features for 1214 S 15th St
General Information
Standard status
Active
Size
4,000 SF
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 2BR/2BA
Multifamily Units
3
Amenities
open-concept layouts
contemporary finishes
hardwood flooring
stainless steel appliances
in-unit laundry
central air
abundant natural light
Building Details
Year Built
2024
Listing Agency:
United Properties Realty
Listed By:
Michael Kuldiner · License #RM421756
(267) 243-5353
Source:
Premierehomegroup
Added: Aug 6
Changed: Oct 4
Last Checked: Oct 7 at 2:20PM
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 United Properties Realty
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Investment Insights
Based on property information with market context.
Completed in 2024, this 4,000-square-foot mixed-use property contains four units: three residential apartments and one commercial space on the ground floor. Each residence offers two bedrooms and two bathrooms, with open-concept interiors, hardwood flooring, stainless steel appliances, in-unit laundry, central air, and abundant natural light.
The property is located at 1214 S 15th St in Philadelphia, Pennsylvania, near public transportation, major highways, shopping, dining, and neighborhood redevelopment projects. An eight-year tax abatement remains, adding a defined term to the property’s operating profile.
The property is located at 1214 S 15th St in Philadelphia, Pennsylvania, near public transportation, major highways, shopping, dining, and neighborhood redevelopment projects. An eight-year tax abatement remains, adding a defined term to the property’s operating profile.
Key Highlights
- 4,000‑square‑foot mixed‑use property completed in 2024
- Four total units: three residential apartments and one ground‑floor commercial unit
- Each residential unit includes 2 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,918
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,258,360
$1.3M
Cap Rate 7%
$898,829
$898.8K
Cap Rate 9%
$699,089
$699.1K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$121.4K $30.36/SF
− Vacancy
−$7.0K −$1.76/SF
EGI
$114.4K $28.60/SF
− OpEx
−$51.5K −$12.87/SF
NOI
$62.9K $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%
$1,258,360
Cap Rate 7%
$898,829
Cap Rate 9%
$699,089
Alternative Uses
Best Use
Apartment 5plus
$898.8K
$786.5K – $1.05M
NOI $62,918 @ 7.0% cap · market cap 5.14%
Second Best
Mixed Use
$678.9K
$594.0K – $792.0K
NOI $47,520 @ 7.0% cap · market cap 3.88%
Theoretical Best
Multifamily LT 5
$975.1K
$853.3K – $1.14M
NOI $68,260 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,035
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Recent construction combines three residential apartments with a ground-floor commercial unit and contemporary building features.
Where is this mixed-use property located?
The property is located at 1214 S 15th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 4,000‑square‑foot mixed‑use property completed in 2024; Four total units: three residential apartments and one ground‑floor commercial unit; Each residential unit includes 2 bedrooms and 2 bathrooms
