Six-Unit Apartment Building with
For Sale
$1,525,000
610 S American Street, Philadelphia, PA 19147
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 Market836
Property Features for 610 S American Street
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Multi-family
Zoning
RMI
Occupancy
100%
Lease Term
[]
Site & Location
Neighborhood
Queen Village
Highway Access
Yes
Additional Details
Multifamily Units
6
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
BHHS Fox & Roach-Center City Walnut
Listed By:
Patrick M Conway · License #RS217990L
(215) 266-1537
Source:
Deepcreeklake
Added: Jul 11, 2024
Changed: Oct 23
Last Checked: Oct 23 at 9:58AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$94,377
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,887,540
$1.9M
Cap Rate 7%
$1,348,243
$1.3M
Cap Rate 9%
$1,048,633
$1.0M
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$182.2K $30.36/SF
− Vacancy
−$10.6K −$1.76/SF
EGI
$171.6K $28.60/SF
− OpEx
−$77.2K −$12.87/SF
NOI
$94.4K $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%
$1,887,540
Cap Rate 7%
$1,348,243
Cap Rate 9%
$1,048,633
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 authorities.
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Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7,743
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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
