1540 N 15TH ST, Philadelphia, PA 19121
Six-unit income property with separated utilities and detached garage space, offered for sale as-is with lease-back required.
- Added:
- Jun 3, 2026
- Days on Market:
- 8
- Last Refresh:
- Jun 6 at 2:34 am
Property Features for 1540 N 15TH ST
General Information
- Standard status
- Active
- Size
- 4,750 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1915
Listing agent Larry levin License #PA RS300451
Listing office Realty Mark Associates
Listing date Jun 3, 2026
Source Crexi
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 Realty Mark Associates
HighLights
- Six‑unit income property (built 1915) offered for sale as‑is with required owner lease‑back after settlement
- Unit mix: studio plus ground‑floor 2BR/1BA owner unit; two 1BR/1BA units on 2nd floor; and one 1BR/1BA plus one 2BR/1BA on 3rd floor
- All utilities are separated and systems are up to date
- Detached garage space and laundry support projected rents up to $78,600/year including laundry and garage rental
- Building extends from 15th Street to Sydenham Street and includes detached garage and/or vacant lot space for potential additional multifamily construction or subdivision
- Reported occupancy/income includes gross income based on 4 units, with owner unit non‑paying and 3rd‑floor units vacant/part of the stated gross income
Overview
The site extends from 15th Street to Sydenham Street and includes a detached garage and/or vacant lot space that could support an additional multi-family development. Utilities are separated for the units, and the available description states that building systems are up to date. The current income and occupancy configuration is described as four units of gross income with the owner’s unit non-paying, and three units reported as vacant.
For investors or owner-operators looking for an income-generating multifamily asset with an on-site garage and potential for additional development, the building offers a mix of studio and 1–2 bedroom layouts. The listing notes projected rents up to $78,600 per year when laundry and garage rental are included, and that the owner must have time to lease back following settlement.
Local 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 | $144.2k | $30.36 |
| − Vacancy | −$8.4k | −$1.76 |
| EGI | $135.8k | $28.60 |
| − OpEx | −$61.1k | −$12.87 |
| NOI | $74.7k | $15.73 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.1701975
- Latitude
- 39.9310301
