Two Legal Duplexes Package
1220 Pratt Street Philadelphia, PA 19124
For Sale
$183,432
Two side-by-side duplexes are sold as a single package, each with one tenant-occupied unit and one vacant unit.
Property Size1,392 SF
Price / SF$131.78
Days on Market349
Property Features for 1220 Pratt Street
General Information
- Standard status
- Active
- Size
- 1,392 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1920
Listing Agency:
ISS Realty, LLC
(215) 795-0207
Listed By:
Warren F. Nelson
(215) 795-0207
Source:
Compass
Added: Aug 10, 2025
Changed: Jul 21
Last Checked: Jul 21 at 6:52AM
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 ISS Realty, LLC
Investment Insights
Based on property information with market context.
This package sale includes two side-by-side legal duplexes being sold together. Each property has one tenant-occupied unit and one vacant unit that requires renovation, with active rental licenses in place.
The offering is located in Philadelphia, PA. The sale is offered as-is, and buyers should expect to complete renovations; due diligence is encouraged prior to scheduling showings. Buyer is responsible for U&O, inspections, and all certifications.
The seller notes strong rental demand in the corridor for both market-rate and Section 8 tenants, and pro forma information is available upon request.
The offering is located in Philadelphia, PA. The sale is offered as-is, and buyers should expect to complete renovations; due diligence is encouraged prior to scheduling showings. Buyer is responsible for U&O, inspections, and all certifications.
The seller notes strong rental demand in the corridor for both market-rate and Section 8 tenants, and pro forma information is available upon request.
Key Highlights
- Package sale: two side‑by‑side legal duplexes on Pratt Street (sold together with 1218 Pratt St)
- Each duplex has 1 tenant‑occupied unit and 1 vacant unit requiring renovation
- Tenant‑occupied units generate $1,000/month each (one tenant per duplex), with vacant units for value‑add
Financial Insights For Apartment 5plus
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 | $32.4k | $23.28 |
| − Vacancy | −$2.4k | −$1.72 |
| EGI | $30.0k | $21.56 |
| − OpEx | −$13.5k | −$9.70 |
| NOI | $16.5k | $11.86 |
1,392 SF · lease $23.28/SF/yr · vacancy 7.40% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$256.2K
$224.2K – $299.0K
NOI $17,937 @ 7.0% cap · market cap 9.78%
Second Best
Apartment 5plus
$235.8K
$206.3K – $275.1K
NOI $16,504 @ 7.0% cap · market cap 9.00%
Theoretical Best
Specialty Retail
$800.7K
$700.6K – $934.2K
NOI $56,049 @ 7.0% cap · market cap 30.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two side-by-side duplexes are sold as a single package, each with one tenant-occupied unit and one vacant unit.
Where is this duplex located?
The property is located at 1220 Pratt Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $183,432.
What are key features of this property?
This property features: Package sale: two side‑by‑side legal duplexes on Pratt Street (sold together with 1218 Pratt St); Each duplex has 1 tenant‑occupied unit and 1 vacant unit requiring renovation; Tenant‑occupied units generate $1,000/month each (one tenant per duplex), with vacant units for value‑add
