Income-Generating Multifamily
For Sale
$520,000
Pending
1427 West Ritner Street, Philadelphia, PA 19145
Corner 3-story masonry rowhome with four units, separately metered electric, and updated interiors across multiple leasehold spaces.
Property Size2,016 SF
Days on Market130
Property Features for 1427 West Ritner Street
General Information
Standard status
Pending
Size
2,016 SF
Property subtype
Multi-Family / Fee Simple
Occupancy
80%
Additional Details
Multifamily Units
5
Building Details
Year Built
1920
Stories
3
Construction
masonry rowhome
Tenancy
Multi
Listing Agency:
KW Empower
(856) 669-1460
Listed By:
Matthew Bigelow · License #RS350709
(856) 669-1460
Source:
Compass
Added: Mar 25
Changed: Jul 23
Last Checked: Jul 31 at 11:58AM
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 KW Empower
Investment Insights
Based on property information with market context.
This corner 3-story masonry rowhome is currently operated as a multi-unit income property. The building includes approximately 2,016 square feet above grade plus a basement. Unit interiors were updated approximately 5 years ago, and kitchens and baths vary by unit, with highlights described as updated cabinetry and countertops and black-and-white subway tile bathrooms. Electric is separately metered by unit. The property includes three one bedroom, one bathroom units and two studio units, with one studio offering a private side entrance.
The home is located one block off Passyunk Avenue in Philadelphia, with the listing describing nearby access to FDR Park and quick connections to the Broad Street Line and SEPTA for travel to Center City, the stadiums, and major regional transit.
Per the listing, all but one unit are currently occupied, with tenants on month-to-month leases. Financials are available upon request. The seller will not make repairs, and the buyer will be responsible for the Use & Occupancy certificate and all due diligence.
The home is located one block off Passyunk Avenue in Philadelphia, with the listing describing nearby access to FDR Park and quick connections to the Broad Street Line and SEPTA for travel to Center City, the stadiums, and major regional transit.
Per the listing, all but one unit are currently occupied, with tenants on month-to-month leases. Financials are available upon request. The seller will not make repairs, and the buyer will be responsible for the Use & Occupancy certificate and all due diligence.
Key Highlights
- Corner 3‑story masonry rowhome built in 1920 with approx. 2,016 SF above grade plus basement
- Multi‑unit setup with 3 one‑bedroom/1‑bath units and 2 studio units (5 total units)
- Electric is separately metered by unit
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 6.10%
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 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
80%
Occupancy
Multi-tenant
Tenancy
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 - Corner 3-story masonry rowhome with four units, separately metered electric, and updated interiors across multiple leasehold spaces.
Where is this apartment building located?
The property is located at 1427 West Ritner Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Corner 3‑story masonry rowhome built in 1920 with approx. 2,016 SF above grade plus basement; Multi‑unit setup with 3 one‑bedroom/1‑bath units and 2 studio units (5 total units); Electric is separately metered by unit
