Mixed-Use Property with 5
For Sale
$1,200,000
1542 N 15TH Street, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size4,230 SF
Lot Size0.08 Acres
Price / SF$283.69
Days on Market715
Property Features for 1542 N 15TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
4,230 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
8314
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1915
Number of units
4
Building materials
Masonry
Architectural style
Other
Listing Agency:
RE/MAX Select Group · RE/MAX International
(215) 335-6900
Listed By:
Marco A Troche · License #AB069365
(267) 255-8132
Added: Sep 20, 2024
Changed: Sep 1
Last Checked: Sep 4 at 5:06AM
MLS# PAPH2399164
Copyright © 2026 Bright MLS. 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.
This 4,230-square-foot mixed-use property contains five rental units, including a front commercial space and four residential apartments. The masonry building dates to 1915 and includes forced-air heating, central air, and window unit cooling. On-street parking serves the property.
The property is located one block from Temple University and within walking distance of Morgan Hall, the Liacouras Center, an AMC movie theater, and a shopping center. It extends from block to block and includes a rear lot. Plans and blueprints for new construction on the lot are included with the property.
The current configuration combines commercial and residential occupancy in a single building, with the residential units positioned for student-oriented housing based on the existing property use.
The property is located one block from Temple University and within walking distance of Morgan Hall, the Liacouras Center, an AMC movie theater, and a shopping center. It extends from block to block and includes a rear lot. Plans and blueprints for new construction on the lot are included with the property.
The current configuration combines commercial and residential occupancy in a single building, with the residential units positioned for student-oriented housing based on the existing property use.
Key Highlights
- 5 total rental units: 1 commercial space and 4 residential units
- 4,230 square feet on a 0.0833‑acre lot
- One block from Temple University
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,536
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,330,720
$1.3M
Cap Rate 7%
$950,514
$950.5K
Cap Rate 9%
$739,289
$739.3K
Market Conditions
NOI Build-Up for 4,230 SF
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.
Gross rent
$128.4K $30.36/SF
− Vacancy
−$7.4K −$1.76/SF
EGI
$121.0K $28.60/SF
− OpEx
−$54.4K −$12.87/SF
NOI
$66.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,330,720
Cap Rate 7%
$950,514
Cap Rate 9%
$739,289
Alternative Uses
Best Use
Apartment 5plus
$950.5K
$831.7K – $1.11M
NOI $66,536 @ 7.0% cap · market cap 5.54%
Second Best
Mixed Use
$717.9K
$628.2K – $837.5K
NOI $50,252 @ 7.0% cap · market cap 4.19%
Theoretical Best
Multifamily LT 5
$1.03M
$902.3K – $1.20M
NOI $72,185 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,265
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied building combines a commercial storefront with four residential apartments.
Where is this mixed-use property located?
The property is located at 1542 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: 5 total rental units: 1 commercial space and 4 residential units; 4,230 square feet on a 0.0833‑acre lot; One block from Temple University
