7-Unit Multifamily Investment
For Sale
$1,200,000
1228 S 2nd Street, Philadelphia, PA 19147
Fee simple sale of a 7-unit multifamily property with a mix of one- and two-bedroom apartments.
Property Size2,457 SF
Price / SF$488.40
Days on Market318
Property Features for 1228 S 2nd Street
General Information
Standard status
Active
Size
2,457 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
7
Building Details
Year Built
1915
Listing Agency:
TCS Management,LLC
Listed By:
Moshe Adika · License #AB069795
(267) 210-3080
Source:
Deepcreeklake
Added: Dec 9, 2025
Changed: Oct 21
Last Checked: Oct 20 at 11:14PM
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 TCS Management,LLC
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Investment Insights
Based on property information with market context.
Global Real Estate Advisors is pleased to offer a fee simple package including 1228-30 South 2nd Street and 1231 S. Philip Street, presented as a 7-unit multifamily property. The building has a well-balanced unit mix of (5) two-bedroom/one-bath apartments and (2) one-bedroom/one-bath apartments.
Current in-place rents average $1,551 per month. One-bedroom units range from $1,400 to $1,700 per month, and two-bedroom units range from $1,440 to $1,700 per month.
The property is offered for sale in Philadelphia’s 19147 area, within the Philadelphia City School District.
Current in-place rents average $1,551 per month. One-bedroom units range from $1,400 to $1,700 per month, and two-bedroom units range from $1,440 to $1,700 per month.
The property is offered for sale in Philadelphia’s 19147 area, within the Philadelphia City School District.
Key Highlights
- Fee simple sale of a 7‑unit multifamily property (1228‑30 S 2nd St and 1231 S Philip St, sold as a package)
- Unit mix: 5 two‑bedroom/one‑bath units and 2 one‑bedroom/one‑bath units
- Average monthly in‑place rent of $1,551 across the 7 units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,647
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$772,940
$772.9K
Cap Rate 7%
$552,100
$552.1K
Cap Rate 9%
$429,411
$429.4K
Market Conditions
NOI Build-Up for 2,457 SF
Gross rent
$74.6K $30.36/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$70.3K $28.60/SF
− OpEx
−$31.6K −$12.87/SF
NOI
$38.6K $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%
$772,940
Cap Rate 7%
$552,100
Cap Rate 9%
$429,411
Alternative Uses
Best Use
Apartment 5plus
$552.1K
$483.1K – $644.1K
NOI $38,647 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$599.0K
$524.1K – $698.8K
NOI $41,928 @ 7.0% cap · market cap 3.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,858
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Fee simple sale of a 7-unit multifamily property with a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 1228 S 2nd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Fee simple sale of a 7‑unit multifamily property (1228‑30 S 2nd St and 1231 S Philip St, sold as a package); Unit mix: 5 two‑bedroom/one‑bath units and 2 one‑bedroom/one‑bath units; Average monthly in‑place rent of $1,551 across the 7 units
