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    Historic Mixed-Use Investment Property Title is generated by Realmo AI

    1509 SPRING GARDEN Street, Philadelphia, PA 19130

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    For Sale
    $674,900

    MULTI_FAMILY - Other - PHILADELPHIA, PA

    Property size:
    2,431 SF
    Lot size:
    0.03 Acres
    Price / SF:
    $277/SF
    Added:
    May 22, 2025
    Days on Market:
    386
    Last Refresh:
    Jun 11 at 2:06 pm

    Property Features for 1509 SPRING GARDEN Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    On Street
    Standard status
    Active
    Size
    2,431 SF
    Lot size
    0.03 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7635

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1915
    Number of units
    3
    Building materials
    Masonry
    Architectural style
    Other

    We can help!

    Listing Contact
    Marco A Troche

    Listing agent Marco A Troche License #AB069365

    Listing office RE/MAX Select Group 9237 Frankford Avenue, Philadelphia, PA

    Listing date May 22, 2025

    MLS# PAPH2486008 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Historic Mixed‑Use Property in High‑Traffic Spring Garden District
    • RMX‑1 Zoning offers Flexible Commercial and Residential Use
    • Ideal for Investors or Business Owners
    • Beautifully Maintained Building
    • Built in 1915
    • Central Air and Forced Air Heating

    Overview

    This historic mixed-use property is located in the Spring Garden district. The property is zoned RMX-1. The building is suitable for investors or business owners looking to combine residential income with commercial potential in a high-traffic corridor. The property size is 2431 square feet and the lot size is 0.0255 acres.

    Local 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 $73.8k $30.36
    − Vacancy −$4.3k −$1.76
    EGI $69.5k $28.60
    − OpEx −$31.3k −$12.87
    NOI $38.2k $15.73
    2,431 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $546.3K
    $478.0K – $637.3K (±1% cap)
    NOI $38,238 @ 7.0% cap · market cap 5.67%
    Second Best
    Mixed Use
    $412.6K
    $361.0K – $481.3K (±1% cap)
    NOI $28,880 @ 7.0% cap · market cap 4.28%
    Theoretical Best
    Multifamily LT 5
    $592.6K
    $518.6K – $691.4K (±1% cap)
    NOI $41,485 @ 7.0% cap · market cap 6.15%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Milano Di Rouge Clothing Store

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.163383
    Latitude
    39.962959

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in high-traffic Spring Garden district.
    Where is this mixed-use property located?
    The property is located at 1509 SPRING GARDEN Street Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $674,900.
    What are key features of this property?
    This property features: Historic Mixed‑Use Property in High‑Traffic Spring Garden District; RMX‑1 Zoning offers Flexible Commercial and Residential Use; Ideal for Investors or Business Owners
    (267) 255-8132
    We can help!
    Listing Contact
    Marco A Troche
    Real Estate License ID: AB069365
    Learn More
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