Modern Six-Unit Apartment
New
For Sale
$1,299,000
1230 N MARSHALL STREET, Philadelphia, PA 19122
Recently built multifamily property with varied unit layouts, in-unit laundry, and individual mechanical systems.
Property Size4,800 SF
Days on Market4
Property Features for 1230 N MARSHALL STREET
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Five Or More Units
Financials
Asking Price
$1,299,000
Opportunity Zone
Yes
Units
Unit Mix
2 x studio, 3 x 1BR, 1 x 2BR/2BA
Multifamily Units
6
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,639
Amenities
in-unit washers and dryers
Building Details
Building Size
4,800 SF
Year Built
2024
Listing Agency:
BHHS Fox & Roach-Center City Walnut
Listed By:
ERIC Andrew Dvotsky · License #rs332410
(267) 243-4652
Source:
Patmckennarealtors
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 11 at 3:08PM
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 BHHS Fox & Roach-Center City Walnut
Investment Insights
Based on property information with market context.
Completed in 2024, this six-unit apartment building includes two studios, three one-bedroom residences, and one two-bedroom, two-bathroom residence. Each unit has a contemporary kitchen and bathroom, an efficient floor plan, an individual mechanical system, and an in-unit washer and dryer. The property is scheduled for delivery fully occupied, providing a stabilized residential configuration at closing.
The building is located on N Marshall Street in Philadelphia’s Olde Kensington neighborhood, within walking distance of Girard Station and near Girard Avenue. Fishtown and Northern Liberties are also nearby, with surrounding restaurants, retail, entertainment, and nightlife. The property benefits from Philadelphia’s 10-year residential new-construction tax abatement program and is situated within a Qualified Opportunity Zone.
The building is located on N Marshall Street in Philadelphia’s Olde Kensington neighborhood, within walking distance of Girard Station and near Girard Avenue. Fishtown and Northern Liberties are also nearby, with surrounding restaurants, retail, entertainment, and nightlife. The property benefits from Philadelphia’s 10-year residential new-construction tax abatement program and is situated within a Qualified Opportunity Zone.
Key Highlights
- Six‑unit apartment building completed in 2024
- Unit mix includes two studios, three one‑bedrooms, and one two‑bedroom, two‑bathroom residence
- Fully occupied at delivery
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$75,502
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,510,040
$1.5M
Cap Rate 7%
$1,078,600
$1.1M
Cap Rate 9%
$838,911
$838.9K
Market Conditions
NOI Build-Up for 4,800 SF
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.
Gross rent
$145.7K $30.36/SF
− Vacancy
−$8.5K −$1.76/SF
EGI
$137.3K $28.60/SF
− OpEx
−$61.8K −$12.87/SF
NOI
$75.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,510,040
Cap Rate 7%
$1,078,600
Cap Rate 9%
$838,911
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$943.8K – $1.26M
NOI $75,502 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.17M
$1.02M – $1.37M
NOI $81,911 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,823
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Recently built multifamily property with varied unit layouts, in-unit laundry, and individual mechanical systems.
Where is this apartment building located?
The property is located at 1230 N MARSHALL STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Six‑unit apartment building completed in 2024; Unit mix includes two studios, three one‑bedrooms, and one two‑bedroom, two‑bathroom residence; Fully occupied at delivery
