12-Unit Apartment
For Sale
$2,999,999
1221-27 N 27TH ST, Philadelphia, PA 19121
Adjacent brick buildings combine updated two-bedroom apartments with efficient HVAC systems and in-unit washer-dryer combinations.
Property Size11,760 SF
Price / SF$255.10
Days on Market48
Property Features for 1221-27 N 27TH ST
General Information
Standard status
Active
Size
11,760 SF
Occupancy
100%
Units
Unit Mix
12 x 2BR
Multifamily Units
12
Additional Details
Road Access
Yes
Amenities
ceiling fans
oversized windows
high ceilings
pendant lighting
stainless appliances
washer-dryer combos
LVP flooring
high efficiency HVAC
Building Details
Buildings
2
Construction
brick
Tenancy
Multi
Listing Agency:
Keller Williams Liberty Place
(609) 399-5454
Listed By:
Ryan J McManus · License #RS316262
(610) 606-1095
Source:
Keygroupmd
Added: Sep 4
Changed: Oct 15
Last Checked: Oct 20 at 7:57PM
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 Keller Williams Liberty Place
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property at 1221-27 N 27th St comprises two adjacent brick apartment buildings operating as one community under two Tax IDs. The 12-unit asset contains 11,760 SF, with each residence configured as a two-bedroom apartment. Interior features include updated kitchens and bathrooms, stainless appliances, pendant lighting, oversized windows, high ceilings, ceiling fans, LVP flooring, washer-dryer combinations, and high-efficiency HVAC systems and mechanicals. All 12 units are leased at market rate, and the property has a 10-year tax abatement.
Located just off Girard Avenue in Philadelphia’s Brewerytown section, the property is within walking distance of amenities along the Girard Avenue corridor, Fairmount Avenue restaurants and cafes, the Museums District, the Schuylkill River Trail, Boathouse Row, and Fairmount Park. The two buildings may also be offered as separate six-unit assets, subject to the applicable transaction structure.
Located just off Girard Avenue in Philadelphia’s Brewerytown section, the property is within walking distance of amenities along the Girard Avenue corridor, Fairmount Avenue restaurants and cafes, the Museums District, the Schuylkill River Trail, Boathouse Row, and Fairmount Park. The two buildings may also be offered as separate six-unit assets, subject to the applicable transaction structure.
Key Highlights
- 12‑unit apartment property totaling 11,760 SF
- Two adjacent brick buildings operating as one community with two Tax IDs
- All 12 units leased at market rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$184,979
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,699,580
$3.7M
Cap Rate 7%
$2,642,557
$2.6M
Cap Rate 9%
$2,055,322
$2.1M
Market Conditions
NOI Build-Up for 11,760 SF
Gross rent
$357.0K $30.36/SF
− Vacancy
−$20.7K −$1.76/SF
EGI
$336.3K $28.60/SF
− OpEx
−$151.3K −$12.87/SF
NOI
$185.0K $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%
$3,699,580
Cap Rate 7%
$2,642,557
Cap Rate 9%
$2,055,322
Alternative Uses
Best Use
Apartment 5plus
$2.64M
$2.31M – $3.08M
NOI $184,979 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.87M
$2.51M – $3.34M
NOI $200,683 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
12
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,532
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Adjacent brick buildings combine updated two-bedroom apartments with efficient HVAC systems and in-unit washer-dryer combinations.
Where is this apartment building located?
The property is located at 1221-27 N 27TH ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: 12‑unit apartment property totaling 11,760 SF; Two adjacent brick buildings operating as one community with two Tax IDs; All 12 units leased at market rate
