Newly Refurbished 5-Unit
1518 E PASSYUNK AVENUE Philadelphia, PA 19147
For Sale
$849,000
MULTI_FAMILY - PHILADELPHIA, PA
Property Size2,211 SF
Price / SF$383.99
Days on Market935
Property Features for 1518 E PASSYUNK AVENUE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Townhouse
- Standard status
- Active
- Size
- 2,211 SF
Building Details
- Year built
- 1920
Listing Agency:
BHHS Fox & Roach Center City-Society Hill
(215) 627-6005
Listed By:
Vince Catroppa
(215) 416-6048
Added: Jan 2, 2024
Changed: Jul 23
Last Checked: Jul 25 at 8:06AM
MLS# PAPH2308698
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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.
Newly refurbished five-unit apartment building featuring updated white cabinets, durable linoleum floors, and white subway tile bathrooms. The layout includes two units on the first floor, two units on the second floor, and one unit on the third floor. The third-floor unit also includes a finished basement with a utility room and a separate laundry room.
The building is described as visible to Passyunk Square and Passyunk Fountain, as well as Black and Brew Coffee House. Public remarks also note an excellent walking location to restaurants, bars, and coffee houses.
As configured, the property provides a straightforward vertical setup with three levels of residential units plus an attached finished basement/laundry arrangement for the third-floor unit.
The building is described as visible to Passyunk Square and Passyunk Fountain, as well as Black and Brew Coffee House. Public remarks also note an excellent walking location to restaurants, bars, and coffee houses.
As configured, the property provides a straightforward vertical setup with three levels of residential units plus an attached finished basement/laundry arrangement for the third-floor unit.
Key Highlights
- Zoned 5‑unit apartment building, built in 1920
- Unit mix: two units on the first floor, two units on the second floor, and one unit on the 3rd floor
- Finished basement includes a utility room and a separate laundry room
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 | $67.1k | $30.36 |
| − Vacancy | −$3.9k | −$1.76 |
| EGI | $63.2k | $28.60 |
| − OpEx | −$28.5k | −$12.87 |
| NOI | $34.8k | $15.73 |
2,211 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$496.8K
$434.7K – $579.6K
NOI $34,778 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$539.0K
$471.6K – $628.8K
NOI $37,730 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Refurbished five-unit apartment building with updated interiors and an in-unit finished basement level.
Where is this apartment building located?
The property is located at 1518 E PASSYUNK AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Zoned 5‑unit apartment building, built in 1920; Unit mix: two units on the first floor, two units on the second floor, and one unit on the 3rd floor; Finished basement includes a utility room and a separate laundry room
