Income-Producing Duplex with Independent
For Sale
$899,000
1215 S 23RD Street, Philadelphia, PA 19146
MULTI_FAMILY - Contemporary - PHILADELPHIA, PA
Property Size3,000 SF
Lot Size0.02 Acres
Price / SF$299.67
Days on Market97
Property Features for 1215 S 23RD Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Interior features
Ceiling Fan(s), Recessed Lighting, 2nd Kitchen, Bathroom - Stall Shower, Bathroom - Tub Shower, Bathroom - Walk-In Shower
Subdivision
POINT BREEZE
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
3,000 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
3422
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1915
Number of units
2
Building materials
Masonry, Brick
Architectural style
Contemporary
Listing Agency:
Homestarr Realty
(215) 355-5565
Listed By:
Joe Hill · License #RS344689
(215) 436-4768
Added: Apr 25
Changed: Jul 20
Last Checked: Jul 30 at 8:06PM
MLS# PAPH2612632
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully operational duplex is income-producing and set up as two independent residences with separate entrances. The upper residence offers a 3-bedroom, 3-bath layout and includes a private deck; it is also described as deliverable fully furnished. The lower residence features a 2-bedroom, 2-bath design with access to a private backyard. Each level is reported to span approximately 1,500 square feet.
The property is located at 1215 S 23RD Street in Philadelphia, PA 19146 (Philadelphia County). It is currently operating as a short-term rental, and the listing notes documented income and ongoing bookings.
Ownership is also associated with the Philadelphia 10-Year Tax Abatement, with approximately 7 years remaining as stated in the remarks. The configuration supports flexible occupancy, including using one unit while generating income from the other.
The property is located at 1215 S 23RD Street in Philadelphia, PA 19146 (Philadelphia County). It is currently operating as a short-term rental, and the listing notes documented income and ongoing bookings.
Ownership is also associated with the Philadelphia 10-Year Tax Abatement, with approximately 7 years remaining as stated in the remarks. The configuration supports flexible occupancy, including using one unit while generating income from the other.
Key Highlights
- Income‑producing duplex in a rapidly appreciating Philadelphia location (Graduate Hospital/Point Breeze).
- Upper residence (3‑bed, 3‑bath) is a successful short‑term rental with documented income and strong reviews. Existing bookings are in place.
- Approximately 7 years remaining on a Philadelphia 10‑Year Tax Abatement, providing significant tax savings.
Financial Insights For Multifamily LT 5
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 | $77.4k | $25.80 |
| − Vacancy | −$4.3k | −$1.42 |
| EGI | $73.1k | $24.38 |
| − OpEx | −$21.9k | −$7.31 |
| NOI | $51.2k | $17.06 |
3,000 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,263
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two independent residences with separate entrances, each with private outdoor space, currently operating as a short-term rental duplex.
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: Income‑producing duplex in a rapidly appreciating Philadelphia location (Graduate Hospital/Point Breeze).; Upper residence (3‑bed, 3‑bath) is a successful short‑term rental with documented income and strong reviews. Existing bookings are in place.; Approximately 7 years remaining on a Philadelphia 10‑Year Tax Abatement, providing significant tax savings.
