Legal Duplex with Private
For Sale
$349,900
1218 MCKEAN STREET, Philadelphia, PA 19148
Legal two-unit duplex offering hardwood floors, high ceilings, and two full kitchens with backyard access.
Property Size1,480 SF
Price / SF$236.42
Days on Market98
Property Features for 1218 MCKEAN STREET
General Information
Standard status
Active
Size
1,480 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1925
Stories
2
Tenancy
Multi
Listing Agency:
Triamond Realty
(267) 243-5317
Listed By:
Suqing Fan · License #RS304225
(267) 243-1892
Source:
Cummingsrealtors
Added: Jul 17
Changed: Oct 21
Last Checked: Oct 20 at 10:30PM
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 Triamond Realty
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Investment Insights
Based on property information with market context.
Legal duplex in Philadelphia featuring two separate residential units. The first-floor unit includes a spacious living room, one bedroom with a large closet, one full bathroom, a large eat-in kitchen, and access to a backyard. The second-floor unit offers a spacious living room, one bedroom with a walk-in closet, one full bathroom, and a large eat-in kitchen.
The property features hardwood flooring throughout and high ceilings. It is described as being in the East Passyunk area, with proximity to Center City, universities, public transportation, shopping, dining, and the Sports Complex.
All tenants are stated to be moved out, presenting a straightforward opportunity for an owner-occupant or an investor seeking a duplex with two complete living layouts.
The property features hardwood flooring throughout and high ceilings. It is described as being in the East Passyunk area, with proximity to Center City, universities, public transportation, shopping, dining, and the Sports Complex.
All tenants are stated to be moved out, presenting a straightforward opportunity for an owner-occupant or an investor seeking a duplex with two complete living layouts.
Key Highlights
- Legal duplex built in 1925 with two separate residential units
- Each unit features a spacious living room, 1 bedroom, and 1 full bathroom
- Both units include a large eat‑in kitchen for two full kitchen spaces total
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,256
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,120
$505.1K
Cap Rate 7%
$360,800
$360.8K
Cap Rate 9%
$280,622
$280.6K
Market Conditions
NOI Build-Up for 1,480 SF
Gross rent
$38.2K $25.80/SF
− Vacancy
−$2.1K −$1.42/SF
EGI
$36.1K $24.38/SF
− OpEx
−$10.8K −$7.31/SF
NOI
$25.3K $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%
$505,120
Cap Rate 7%
$360,800
Cap Rate 9%
$280,622
Alternative Uses
Best Use
Multifamily LT 5
$360.8K
$315.7K – $420.9K
NOI $25,256 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$332.6K
$291.0K – $388.0K
NOI $23,280 @ 7.0% cap · market cap 6.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,935
Businesses Nearby
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Business Placement
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
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 - Legal two-unit duplex offering hardwood floors, high ceilings, and two full kitchens with backyard access.
Where is this duplex located?
The property is located at 1218 MCKEAN STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Legal duplex built in 1925 with two separate residential units; Each unit features a spacious living room, 1 bedroom, and 1 full bathroom; Both units include a large eat‑in kitchen for two full kitchen spaces total
