Corner Multi-Unit
For Sale
$489,999
1427 W Ritner Street, Philadelphia, PA 19145
Three one-bedroom and two studio units with electric separately metered and most units on month-to-month leases.
Property Size2,016 SF
Price / SF$243.06
Days on Market129
Property Features for 1427 W Ritner Street
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi-Family
Occupancy
80%
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 1BR/1BA, 2 x studio
Multifamily Units
5
Amenities
Natural Gas
Yes
Electric
No
Assessor
No Pool
Public
U50
16.00 x 60.00
0.02
Brick/Mortar
82660.00
Building Details
Building Size
2,016 SF
Year Built
1920
Buildings
1
Stories
3
Construction
masonry
Tenancy
Multi
Listing Agency:
Opulent Realty Group LLC
(856) 222-0077
Listed By:
Gary Cook
Source:
Thetristaterealestategroup
Added: Mar 25
Changed: Jul 31
Last Checked: Jul 31 at 7:15AM
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 Opulent Realty Group LLC
Investment Insights
Based on property information with market context.
This corner, 3-story masonry rowhome is set up as a multi-unit investment property, currently generating income. The building offers approximately 2,016 square feet above grade plus a basement and was built in 1920. The unit mix includes three one-bedroom, one-bath units and two studio units, with one studio unit featuring a private side entrance. Units were updated approximately 5 years ago, including kitchens and baths that vary by unit, with noted finishes such as black-and-white subway tile baths and updated cabinetry and countertops. Electric is separately metered by unit, supporting straightforward management.
Most units are currently occupied, with tenants on month-to-month leases; all but one unit are occupied. Natural gas is available, and the property is served by electric utilities.
Buyer should plan to complete their own due diligence for next steps related to the property’s configuration and occupancy.
Most units are currently occupied, with tenants on month-to-month leases; all but one unit are occupied. Natural gas is available, and the property is served by electric utilities.
Buyer should plan to complete their own due diligence for next steps related to the property’s configuration and occupancy.
Key Highlights
- Approximately 2,016 square feet above grade plus a basement
- Corner 3‑story masonry rowhome built in 1920
- Three one‑bedroom, one‑bath units plus two studio units
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 | $61.2k | $30.36 |
| − Vacancy | −$3.5k | −$1.76 |
| EGI | $57.7k | $28.60 |
| − OpEx | −$25.9k | −$12.87 |
| NOI | $31.7k | $15.73 |
2,016 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$453.0K
$396.4K – $528.5K
NOI $31,711 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$491.5K
$430.0K – $573.4K
NOI $34,403 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
80%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,419
Businesses Nearby
Explore this area
Business Placement
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three one-bedroom and two studio units with electric separately metered and most units on month-to-month leases.
Where is this apartment building located?
The property is located at 1427 W Ritner Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $489,999.
What are key features of this property?
This property features: Approximately 2,016 square feet above grade plus a basement; Corner 3‑story masonry rowhome built in 1920; Three one‑bedroom, one‑bath units plus two studio units
