Six-Unit Apartment
For Sale
$1,300,000
1523 CHRISTIAN STREET, Philadelphia, PA 19146
Tenant-occupied apartment property with dedicated rear parking and shared on-site laundry.
Property Size3,195 SF
Lot Size0.04 Acres
Price / SF$406.89
Days on Market49
Property Features for 1523 CHRISTIAN STREET
General Information
Standard status
Active
Size
3,195 SF
Total Parking Spaces
2
Lot size
0.04 Acres
Property subtype
Five Or More Units
Zoning
RM1
Site & Location
Neighborhood
South Philadelphia
Utilities to Site
Yes
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$8,915
Amenities
shared laundry
Building Details
Building Size
3,195 SF
Year Built
1910
Year Renovated
2006
Buildings
1
Construction
masonry
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Jack Aezen · License #RS226201L
(610) 662-1066
Source:
Patmckennarealtors
Added: Sep 7
Changed: Oct 21
Last Checked: Oct 23 at 4:26PM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
This tenant-occupied apartment building contains 6 units within 3,195 square feet of masonry construction. Built in 1910 and substantially renovated in 2006, the property occupies an 18' x 97' lot and includes two dedicated off-street parking spaces at the rear. Shared laundry serves the building.
The property is located near 16th Street in Philadelphia's Graduate Hospital area. It carries RM1 zoning and fee simple ownership. Units have separate gas and electric meters, window cooling units, and electric hot water. Public water and sewer connections serve the building.
The property is located near 16th Street in Philadelphia's Graduate Hospital area. It carries RM1 zoning and fee simple ownership. Units have separate gas and electric meters, window cooling units, and electric hot water. Public water and sewer connections serve the building.
Key Highlights
- 6‑unit apartment building with 3,195 square feet
- Tenant‑occupied property on an 18' x 97' lot
- Built in 1910 and renovated in 2006
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,256
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,005,120
$1.0M
Cap Rate 7%
$717,943
$717.9K
Cap Rate 9%
$558,400
$558.4K
Market Conditions
NOI Build-Up for 3,195 SF
Gross rent
$97.0K $30.36/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$91.4K $28.60/SF
− OpEx
−$41.1K −$12.87/SF
NOI
$50.3K $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%
$1,005,120
Cap Rate 7%
$717,943
Cap Rate 9%
$558,400
Alternative Uses
Best Use
Apartment 5plus
$717.9K
$628.2K – $837.6K
NOI $50,256 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$778.9K
$681.5K – $908.7K
NOI $54,522 @ 7.0% cap · market cap 4.19%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7,636
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
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 - Tenant-occupied apartment property with dedicated rear parking and shared on-site laundry.
Where is this apartment building located?
The property is located at 1523 CHRISTIAN STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 6‑unit apartment building with 3,195 square feet; Tenant‑occupied property on an 18' x 97' lot; Built in 1910 and renovated in 2006
