Historic 9-Unit Multifamily
For Sale
$1,200,000
1517 N 15TH STREET, Philadelphia, PA 19121
Architecturally distinctive rental property near Temple University with a varied unit mix and two vacant apartments.
Property Size6,872 SF
Days on Market51
Property Features for 1517 N 15TH STREET
General Information
Standard status
Active
Size
6,872 SF
Property subtype
MixedUse
Site & Location
Neighborhood
South Philadelphia
Public Transit
Yes
Units
Unit Mix
1 x studio, 4 x 1BR, 3 x 2BR, 1 x 3BR/3BA
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$6,719
Building Details
Building Size
6,872 SF
Year Built
1915
Construction
Second Empire
Listing Agency:
Keller Williams Liberty Place
Listed By:
Or Aharon · License #RS354310
(267) 270-6634
Source:
Patmckennarealtors
Added: Sep 16
Changed: Oct 31
Last Checked: Nov 4 at 9:50PM
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 Keller Williams Liberty Place
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Investment Insights
Based on property information with market context.
Built in 1915, this 6,872-square-foot multifamily property presents a Second Empire-inspired design with a cut-stone facade, ornate detailing, and a mansard roofline. The nine-unit layout includes one studio, four one-bedroom units, three two-bedroom units, and one three-bedroom, three-bath unit. Seven apartments are occupied, while two are vacant and available for lease-up. The property is offered strictly AS-IS, WHERE-IS, with no seller repairs or improvements before closing.
The building is located just blocks from Temple University's Main Campus and near neighborhood retail, dining, SEPTA, and Center City. Its university-area setting, established rental context, and existing mix of occupied and vacant units provide a defined operating profile for continued management or renovation planning.
The building is located just blocks from Temple University's Main Campus and near neighborhood retail, dining, SEPTA, and Center City. Its university-area setting, established rental context, and existing mix of occupied and vacant units provide a defined operating profile for continued management or renovation planning.
Key Highlights
- 9‑unit multifamily property with 6,872 square feet
- Unit mix includes 1 studio, 4 one‑bedroom, 3 two‑bedroom, and 1 three‑bedroom/3‑bath unit
- 7 of 9 units occupied; 2 units currently vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,093
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,161,860
$2.2M
Cap Rate 7%
$1,544,186
$1.5M
Cap Rate 9%
$1,201,033
$1.2M
Market Conditions
NOI Build-Up for 6,872 SF
Gross rent
$208.6K $30.36/SF
− Vacancy
−$12.1K −$1.76/SF
EGI
$196.5K $28.60/SF
− OpEx
−$88.4K −$12.87/SF
NOI
$108.1K $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%
$2,161,860
Cap Rate 7%
$1,544,186
Cap Rate 9%
$1,201,033
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $108,093 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.68M
$1.47M – $1.95M
NOI $117,270 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Open Analytics
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
4,093
Businesses Nearby
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Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Architecturally distinctive rental property near Temple University with a varied unit mix and two vacant apartments.
Where is this apartment building located?
The property is located at 1517 N 15TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 9‑unit multifamily property with 6,872 square feet; Unit mix includes 1 studio, 4 one‑bedroom, 3 two‑bedroom, and 1 three‑bedroom/3‑bath unit; 7 of 9 units occupied; 2 units currently vacant
