Mixed-Use Building with
New
For Sale
$749,900
1501 MONTROSE STREET, Philadelphia, PA 19146
Two apartments sit above a commercial laundry, with separate entrances for residential and business access.
Property Size2,301 SF
Price / SF$325.90
Days on Market5
Property Features for 1501 MONTROSE STREET
General Information
Standard status
Active
Size
2,301 SF
Property subtype
Commercial
Site & Location
Neighborhood
South Philadelphia
Corner Location
Yes
Public Transit
Yes
Mixed-Use Components
retail, residential
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Individually Metered Utilities
electricity, gas
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(215) 923-7600
Listed By:
Desarrie McDuffie · License #RS305702
(267) 784-2085
Source:
Cummingsrealtors
Added: Oct 25
Changed: Oct 29
Last Checked: Oct 28 at 7:42AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
At 1501 Montrose Street, a first-floor laundromat occupies the commercial portion of this mixed-use property, with two one-bedroom, one-bath apartments above. The residential units have updated kitchens, stainless steel appliances, hardwood floors, full bathrooms, and spacious living areas and bedrooms. The laundry equipment, including 20 washers and 14 dryers, is included and conveyed in as-is condition. The building contains 2,301 square feet and was built in 1915.
Separate entrances serve the commercial space from 15th Street and the apartments from Montrose Street. Building systems include three gas hot-air heating systems, central air conditioning for the commercial area, four electric meters, and three gas meters. The property is in Philadelphia’s Graduate Hospital neighborhood, near Target, Sprouts Farmers Market, restaurants, shops, parks, public transportation, Broad Street, and Washington Avenue.
Separate entrances serve the commercial space from 15th Street and the apartments from Montrose Street. Building systems include three gas hot-air heating systems, central air conditioning for the commercial area, four electric meters, and three gas meters. The property is in Philadelphia’s Graduate Hospital neighborhood, near Target, Sprouts Farmers Market, restaurants, shops, parks, public transportation, Broad Street, and Washington Avenue.
Key Highlights
- Mixed‑use property with a ground‑floor laundromat and two one‑bedroom, one‑bath apartments
- Laundry equipment included: 20 washers and 14 dryers; conveyed in as‑is condition
- Commercial entrance on 15th Street; residential entrance on Montrose Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,194
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$723,880
$723.9K
Cap Rate 7%
$517,057
$517.1K
Cap Rate 9%
$402,156
$402.2K
Market Conditions
NOI Build-Up for 2,301 SF
Gross rent
$69.9K $30.36/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$65.8K $28.60/SF
− OpEx
−$29.6K −$12.87/SF
NOI
$36.2K $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%
$723,880
Cap Rate 7%
$517,057
Cap Rate 9%
$402,156
Alternative Uses
Best Use
Apartment 5plus
$517.1K
$452.4K – $603.2K
NOI $36,194 @ 7.0% cap · market cap 4.83%
Second Best
Mixed Use
$390.5K
$341.7K – $455.6K
NOI $27,336 @ 7.0% cap · market cap 3.65%
Theoretical Best
Multifamily LT 5
$560.9K
$490.8K – $654.4K
NOI $39,266 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
7,636
Businesses Nearby
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Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two apartments sit above a commercial laundry, with separate entrances for residential and business access.
Where is this mixed-use property located?
The property is located at 1501 MONTROSE STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Mixed‑use property with a ground‑floor laundromat and two one‑bedroom, one‑bath apartments; Laundry equipment included: 20 washers and 14 dryers; conveyed in as‑is condition; Commercial entrance on 15th Street; residential entrance on Montrose Street
