Duplex with Private Roof
For Sale
$499,000
1255 N 23RD Street, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size1,611 SF
Lot Size0.04 Acres
Price / SF$309.75
Days on Market12
Property Features for 1255 N 23RD Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,611 SF
Lot size
0.04 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
1267
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
private roof deck
Building Details
Year built
2019
Number of units
2
Building materials
Brick, Concrete
Architectural style
Contemporary
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
Zack Porrini · License #RS369580
(610) 469-4860
Added: Oct 13
Changed: Oct 23
Last Checked: Oct 24 at 1:06AM
MLS# PAPH2680380
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Completed in 2019, this contemporary duplex contains two separate residences: one with three bedrooms and two bathrooms, and another with two bedrooms and two bathrooms. The larger unit includes a private roof deck. Central heating and central air conditioning serve the property, which has brick and concrete construction.
The three-bedroom residence has a long-term tenant in place, while the two-bedroom unit is vacant. Tenants pay their own utility costs. The property also has approximately three years remaining on its tax abatement, subject to buyer verification.
The three-bedroom residence has a long-term tenant in place, while the two-bedroom unit is vacant. Tenants pay their own utility costs. The property also has approximately three years remaining on its tax abatement, subject to buyer verification.
Key Highlights
- Two‑unit property with three‑bedroom and two‑bedroom residences, each with two bathrooms
- Private roof deck connected to the three‑bedroom unit
- Long‑term tenant occupies the three‑bedroom unit; the two‑bedroom unit is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,492
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,840
$549.8K
Cap Rate 7%
$392,743
$392.7K
Cap Rate 9%
$305,467
$305.5K
Market Conditions
NOI Build-Up for 1,611 SF
Gross rent
$41.6K $25.80/SF
− Vacancy
−$2.3K −$1.42/SF
EGI
$39.3K $24.38/SF
− OpEx
−$11.8K −$7.31/SF
NOI
$27.5K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,840
Cap Rate 7%
$392,743
Cap Rate 9%
$305,467
Alternative Uses
Best Use
Multifamily LT 5
$392.7K
$343.7K – $458.2K
NOI $27,492 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$362.0K
$316.8K – $422.3K
NOI $25,340 @ 7.0% cap · market cap 5.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,137
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A 2019-built property pairs an occupied three-bedroom residence with a vacant two-bedroom unit.
Where is this duplex located?
The property is located at 1255 N 23RD Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑unit property with three‑bedroom and two‑bedroom residences, each with two bathrooms; Private roof deck connected to the three‑bedroom unit; Long‑term tenant occupies the three‑bedroom unit; the two‑bedroom unit is vacant
