Rebuilt 5-Unit Multifamily
For Sale
$2,499,000
1227 N 6th St, Philadelphia, PA 19122
Boutique legal 5-unit multifamily rebuilt to the studs with major structural, roof, and system upgrades plus private outdoor space.
Property Size4,464 SF
Price / SF$559.81
Days on Market115
Property Features for 1227 N 6th St
General Information
Standard status
Active
Size
4,464 SF
Site & Location
Neighborhood
Olde Kensington
Building Details
Year Built
1915
Listing Agency:
Tesla Realty Group, LLC
Listed By:
Steve Burke Jr. · License #RS337988
(267) 471-0443
Source:
Kandorre
Added: Jul 3
Changed: Oct 8
Last Checked: Oct 7 at 1:00PM
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 Tesla Realty Group, LLC
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Investment Insights
Based on property information with market context.
1227 N 6th Street presents a legal 5-unit, design-forward multifamily property that was taken down to the studs and rebuilt with extensive structural and systems upgrades. Reported improvements include full roof removal, reconstructed side wall, new joists and staircases, and replacement sewer and plumbing lines. Interiors are finished with premium selections throughout, including inset soft-close solid wood cabinetry, white Carrera marble countertops, unlacquered brass hardware and fixtures, and rain showers. Units also feature premium appliances (Bosch, Fisher & Paykel, and Bertazzoni gas ranges), Pella Architectural Series windows and sliders, TruStile solid core doors, site-finished wide plank oak flooring, and custom vanities and era-appropriate millwork. The building is sprinklered throughout and reported certified lead-free.
The unit mix includes bi-level layouts and full-floor residences, with several configurations offering outdoor space such as a yard, balcony, and large roof decks. In-place income is reported as gross annual rents of $167,292 with total monthly rents of $13,941, plus $35 in pet rent. Tenant-paid utilities are gas and electric, while the landlord pays water and trash. Showings are by appointment only and the strategy described is subject to existing leases.
The unit mix includes bi-level layouts and full-floor residences, with several configurations offering outdoor space such as a yard, balcony, and large roof decks. In-place income is reported as gross annual rents of $167,292 with total monthly rents of $13,941, plus $35 in pet rent. Tenant-paid utilities are gas and electric, while the landlord pays water and trash. Showings are by appointment only and the strategy described is subject to existing leases.
Key Highlights
- Legal 5‑unit boutique multifamily at 1227 N 6th St, rebuilt to the studs with major structural and system upgrades
- Full roof removal and reconstructed side wall, plus new joists, staircases, and sewer/plumbing line replacements
- In‑place income: gross annual rents of $167,292 and total monthly rents of $13,941 (plus $35 pet rent)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,217
Cap Rate
2.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,404,340
$1.4M
Cap Rate 7%
$1,003,100
$1.0M
Cap Rate 9%
$780,189
$780.2K
Market Conditions
NOI Build-Up for 4,464 SF
Gross rent
$135.5K $30.36/SF
− Vacancy
−$7.9K −$1.76/SF
EGI
$127.7K $28.60/SF
− OpEx
−$57.4K −$12.87/SF
NOI
$70.2K $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%
$1,404,340
Cap Rate 7%
$1,003,100
Cap Rate 9%
$780,189
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$877.7K – $1.17M
NOI $70,217 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.09M
$952.2K – $1.27M
NOI $76,178 @ 7.0% cap · market cap 3.05%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,823
Businesses Nearby
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Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Boutique legal 5-unit multifamily rebuilt to the studs with major structural, roof, and system upgrades plus private outdoor space.
Where is this apartment building located?
The property is located at 1227 N 6th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Legal 5‑unit boutique multifamily at 1227 N 6th St, rebuilt to the studs with major structural and system upgrades; Full roof removal and reconstructed side wall, plus new joists, staircases, and sewer/plumbing line replacements; In‑place income: gross annual rents of $167,292 and total monthly rents of $13,941 (plus $35 pet rent)
