Multifamily
New
For Sale
$1,975,000
1509 W ALLEGHENY AVENUE, Philadelphia, PA 19132
Four Philadelphia properties are offered together as one package.
Property Size9,029 SF
Price / SF$218.74
Days on Market5
Property Features for 1509 W ALLEGHENY AVENUE
General Information
Standard status
Active
Size
9,029 SF
Property subtype
Five Or More Units
Site & Location
Neighborhood
Glenwood
Additional Details
Asking Price
$1,975,000
Taxes and HOA fees
Annual Taxes
$17,212
Building Details
Building Size
9,029 SF
Year Built
1925
Buildings
4
Listing Agency:
KW Empower
Listed By:
Asa Kurland · License #RS349157
(267) 388-1114
Source:
Mainlinekw
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 12:55PM
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
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Investment Insights
Based on property information with market context.
This multifamily offering brings together four Philadelphia properties: 1223 W Westmoreland St, 1242 N 18th St, 1509 W Allegheny Ave, and 1905 W Montgomery Ave. The buildings total approximately 9,029 square feet, according to OPA records. The reported construction year is 1925.
Key Highlights
- Four properties offered as a single package
- Approximately 9,029 square feet in total per OPA
- Addresses include 1223 W Westmoreland St, 1242 N 18th St, 1509 W Allegheny Ave, and 1905 W Montgomery Ave
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,022
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,840,440
$2.8M
Cap Rate 7%
$2,028,886
$2.0M
Cap Rate 9%
$1,578,022
$1.6M
Market Conditions
NOI Build-Up for 9,029 SF
Gross rent
$274.1K $30.36/SF
− Vacancy
−$15.9K −$1.76/SF
EGI
$258.2K $28.60/SF
− OpEx
−$116.2K −$12.87/SF
NOI
$142.0K $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%
$2,840,440
Cap Rate 7%
$2,028,886
Cap Rate 9%
$1,578,022
Alternative Uses
Best Use
Apartment 5plus
$2.03M
$1.78M – $2.37M
NOI $142,022 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.20M
$1.93M – $2.57M
NOI $154,079 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,407
Businesses Nearby
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Business Placement
Demographics for 19132, PA
33,926
Population
17,402
Households
1.9
Avg Household Size
37
Median Age
13%
College-Educated
83%
High-School Grad
2.2 sq mi
ZIP Area
15,421
Density / Sq Mi
$30,974
Median Household Income
$30,300
Median Earnings
$1,055
Median Rent
$73,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Four Philadelphia properties are offered together as one package.
Where is this multifamily property located?
The property is located at 1509 W ALLEGHENY AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Four properties offered as a single package; Approximately 9,029 square feet in total per OPA; Addresses include 1223 W Westmoreland St, 1242 N 18th St, 1509 W Allegheny Ave, and 1905 W Montgomery Ave
