7-Unit Multifamily Investment
1228 South 2nd Street Philadelphia, PA 19147
1228 South 2nd Street, Philadelphia, PA, 19147
$1,300,000
For Sale
$1,300,000
Fee simple sale of a 7-unit multifamily property with a mix of one- and two-bedroom apartments.
Property Size2,457 SF
Price / SF$529.10
Days on Market200
Property Features for 1228 South 2nd Street
General Information
- Standard status
- Active
- Size
- 2,457 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1915
Listing agency
TCS Management, LLC
(215) 431-5652
Listed by
Alex C Prince · License #RS322309
(215) 431-5652
Source
Compass
Added: Jan 3 Updated: Jul 21 at 3:02PM Checked: Jul 21 at 3:02PM
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
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
Local 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 | $74.6k | $30.36 |
| − Vacancy | −$4.3k | −$1.76 |
| EGI | $70.3k | $28.60 |
| − OpEx | −$31.6k | −$12.87 |
| NOI | $38.6k | $15.73 |
2,457 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$552.1K
$483.1K – $644.1K
NOI $38,647 @ 7.0% cap · market cap 2.97%
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 3.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
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 South 2nd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,300,000.
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
