Historic Mixed-Use Investment
1509 SPRING GARDEN Street Philadelphia, PA 19130
For Sale
$674,900
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size2,431 SF
Lot Size0.03 Acres
Price / SF$277.62
Days on Market432
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
Listing Agency:
RE/MAX Select Group
(215) 335-6900
Listed By:
Marco A Troche · License #AB069365
(267) 255-8132
Added: May 22, 2025
Changed: Jun 9
Last Checked: Jul 27 at 9:06AM
MLS# PAPH2486008
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.
Investment Insights
Based on property information with market context.
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.
Key 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
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
NOI $38,238 @ 7.0% cap · market cap 5.67%
Second Best
Mixed Use
$412.6K
$361.0K – $481.3K
NOI $28,880 @ 7.0% cap · market cap 4.28%
Theoretical Best
Multifamily LT 5
$592.6K
$518.6K – $691.4K
NOI $41,485 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
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
