Live-Work Double-Wide Corner
For Sale
$1,250,000
1601-03 S 2Nd Street, Philadelphia, PA 19148
Double-wide corner building with four entrances, business-level space, and a multi-level residence with multiple decks and a garage.
Property Size6,235 SF
Price / SF$200.48
Days on Market838
Property Features for 1601-03 S 2Nd Street
General Information
Standard status
Active
Size
6,235 SF
Property subtype
Multi-Family
Zoning
Residential/Multi-Family
Amenities
deck
private garage
gas fireplace
Building Details
Year Built
1915
Stories
3
Listing Agency:
Blue Casa
(856) 222-0077
Listed By:
Francis Brennan
Source:
Thetristaterealestategroup
Added: Apr 15, 2024
Changed: Jul 23
Last Checked: Jul 24 at 5:21AM
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 Blue Casa
Investment Insights
Based on property information with market context.
A double-wide corner building offering a blend of living and business space, featuring an architecturally pleasing brick facade and woodwork. The property has four separate entrances and numerous windows across the layout for natural light, along with decks for outdoor space and a private garage for parking.
The first floor most recently served as a business space and includes a spacious foyer, high ceilings, a private office, and two additional bonus rooms. The second level functions as the main residence with a double-wide living room, dining room with hardwood floors and custom finishes, a kitchen with wrap-around windows and stainless-steel appliances, three bonus rooms, a walk-in cedar closet, a powder room, laundry room, and a sizable deck.
A third level includes the primary bedroom with walls of windows and city views, plus a large walk-in closet and a full bath with both a shower and tub. Additional bedrooms and another full bath are also described. The flat roof above this level offers potential for a roof deck, and the lower level continues the business space with family and quiet rooms, a lounge, a bonus room, an eat-in kitchen, utility rooms, and two powder rooms. The property is zoned for Residential/Multi-Family use.
The first floor most recently served as a business space and includes a spacious foyer, high ceilings, a private office, and two additional bonus rooms. The second level functions as the main residence with a double-wide living room, dining room with hardwood floors and custom finishes, a kitchen with wrap-around windows and stainless-steel appliances, three bonus rooms, a walk-in cedar closet, a powder room, laundry room, and a sizable deck.
A third level includes the primary bedroom with walls of windows and city views, plus a large walk-in closet and a full bath with both a shower and tub. Additional bedrooms and another full bath are also described. The flat roof above this level offers potential for a roof deck, and the lower level continues the business space with family and quiet rooms, a lounge, a bonus room, an eat-in kitchen, utility rooms, and two powder rooms. The property is zoned for Residential/Multi-Family use.
Key Highlights
- Double‑wide corner building (32 x 63 ft) with approximately 5,500+ sq ft of living space
- Four separate entrances plus a deck for flexible use of business and residential areas
- Zoned Residential/Multi‑Family use
Financial Insights For Office B
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 | $136.9k | $21.96 |
| − Vacancy | −$27.5k | −$4.41 |
| EGI | $109.4k | $17.55 |
| − OpEx | −$27.3k | −$4.39 |
| NOI | $82.0k | $13.16 |
6,235 SF · lease $21.96/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.17M
$1.03M – $1.37M
NOI $82,050 @ 7.0% cap · market cap 6.56%
Second Best
Mixed Use
$1.06M
$925.9K – $1.23M
NOI $74,072 @ 7.0% cap · market cap 5.93%
Theoretical Best
Multifamily LT 5
$1.52M
$1.33M – $1.77M
NOI $106,400 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,981
Businesses Nearby
Explore this area
Business Placement
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Double-wide corner building with four entrances, business-level space, and a multi-level residence with multiple decks and a garage.
Where is this live-work space located?
The property is located at 1601-03 S 2Nd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Double‑wide corner building (32 x 63 ft) with approximately 5,500+ sq ft of living space; Four separate entrances plus a deck for flexible use of business and residential areas; Zoned Residential/Multi‑Family use
