Duplex with Independent
For Sale
$899,000
1215 S 23RD STREET, Philadelphia, PA 19146
Two separately entered homes offer flexible occupancy, including short-term rental operation upstairs and private outdoor space below.
Property Size3,000 SF
Days on Market195
Property Features for 1215 S 23RD STREET
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Duplex
Site & Location
Neighborhood
South Philadelphia
Taxes and HOA fees
Annual Taxes
$3,422
Amenities
private deck
private backyard
Building Details
Building Size
3,000 SF
Year Built
1915
Stories
2
Listing Agency:
Homestarr Realty
Listed By:
Joe Hill · License #RS344689
(215) 436-4768
Source:
Patmckennarealtors
Added: Apr 25
Changed: Nov 5
Last Checked: Nov 4 at 10:03PM
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 Homestarr Realty
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Investment Insights
Based on property information with market context.
Built in 1915, this Philadelphia duplex contains two fully independent residences, each with its own entrance and approximately 1,500 square feet of living area. The upper home includes three bedrooms and three bathrooms, along with a private deck, and is currently furnished and operating as a short-term rental. Existing future bookings and established operating systems are in place. The lower residence provides two bedrooms, two bathrooms, and access to a private backyard, supporting owner occupancy or rental use.
The property is located at 1215 S 23RD STREET in Philadelphia’s Graduate Hospital / Point Breeze corridor. Approximately 7 years remain on the Philadelphia 10-Year Tax Abatement. The two-residence configuration provides separate living spaces and distinct outdoor features within a single multifamily property.
The property is located at 1215 S 23RD STREET in Philadelphia’s Graduate Hospital / Point Breeze corridor. Approximately 7 years remain on the Philadelphia 10-Year Tax Abatement. The two-residence configuration provides separate living spaces and distinct outdoor features within a single multifamily property.
Key Highlights
- Two independent residences with separate entrances
- Approximately 1,500 square feet per level
- Upper residence has 3 bedrooms, 3 bathrooms, and a private deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,195
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,023,900
$1.0M
Cap Rate 7%
$731,357
$731.4K
Cap Rate 9%
$568,833
$568.8K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$77.4K $25.80/SF
− Vacancy
−$4.3K −$1.42/SF
EGI
$73.1K $24.38/SF
− OpEx
−$21.9K −$7.31/SF
NOI
$51.2K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,023,900
Cap Rate 7%
$731,357
Cap Rate 9%
$568,833
Alternative Uses
Best Use
Multifamily LT 5
$731.4K
$639.9K – $853.3K
NOI $51,195 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$674.1K
$589.9K – $786.5K
NOI $47,189 @ 7.0% cap · market cap 5.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Location Intelligence
Trade Area within ½ mile
2,263
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately entered homes offer flexible occupancy, including short-term rental operation upstairs and private outdoor space below.
Where is this duplex located?
The property is located at 1215 S 23RD STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two independent residences with separate entrances; Approximately 1,500 square feet per level; Upper residence has 3 bedrooms, 3 bathrooms, and a private deck
