Six-Unit Apartment Building with
610 S American Street Philadelphia, PA 19147
For Sale
$1,525,000
Fully occupied 6-unit building with self-contained apartments, central air, and a finished lower level for flexible use.
Property Size6,000 SF
Price / SF$254.17
Days on Market632
Property Features for 610 S American Street
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1950
Listing Agency:
BHHS Fox & Roach-Center City Walnut
Listed By:
Patrick M Conway
Source:
Deepcreeklake
Added: Nov 1, 2024
Changed: Jul 10
Last Checked: Jul 23 at 8:32AM
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.
610 S American Street offers a fully occupied, well-maintained six-unit apartment building with self-contained units throughout. The configuration includes two 1-bedroom, 1-bath apartments and four 2-bedroom, 1-bath apartments, each described as having an open floor plan, eat-in kitchens, large windows, and in-unit washer and dryer. Central air is provided for the apartments, and the building includes two separate stairwells to support day-to-day circulation.
The property sits on a 27 x 100 lot and includes an enormous rear shared community yard. In addition, there is a finished lower level that adds flexible space to the overall offering, with a powder room, a separate mechanical room, a large storage room, and another separate bonus room.
Zoned RMI, the building is suited for operators seeking to maintain an income-producing multifamily asset. It also may fit buyers looking for an alternative approach, including conversion to condominiums, or a more owner-occupied use case given the presence of substantial finished lower-level space and outdoor common area.
The property sits on a 27 x 100 lot and includes an enormous rear shared community yard. In addition, there is a finished lower level that adds flexible space to the overall offering, with a powder room, a separate mechanical room, a large storage room, and another separate bonus room.
Zoned RMI, the building is suited for operators seeking to maintain an income-producing multifamily asset. It also may fit buyers looking for an alternative approach, including conversion to condominiums, or a more owner-occupied use case given the presence of substantial finished lower-level space and outdoor common area.
Key Highlights
- Fully occupied 6‑unit apartment building with all self‑contained units
- Unit mix: two 1 bed/1 bath apartments and four 2 bed/1 bath units
- Central air and in‑unit washer + dryer for all six apartments
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 | $182.2k | $30.36 |
| − Vacancy | −$10.6k | −$1.76 |
| EGI | $171.6k | $28.60 |
| − OpEx | −$77.2k | −$12.87 |
| NOI | $94.4k | $15.73 |
6,000 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.57M
NOI $94,377 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.46M
$1.28M – $1.71M
NOI $102,389 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mortgage Line Financial
Loan Service
FAQs
What type of property is this?
Apartment building - Fully occupied 6-unit building with self-contained apartments, central air, and a finished lower level for flexible use.
Where is this apartment building located?
The property is located at 610 S American Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: Fully occupied 6‑unit apartment building with all self‑contained units; Unit mix: two 1 bed/1 bath apartments and four 2 bed/1 bath units; Central air and in‑unit washer + dryer for all six apartments
