Mixed-Use Retail & Apartment
1545 W PASSYUNK Avenue, Philadelphia, PA 19145
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property size:
3,805 SFLot size:
0.04 AcresPrice / SF:
$202/SF- Added:
- Nov 24, 2025
- Days on Market:
- 198
- Last Refresh:
- Jun 10 at 1:06 pm
Property Features for 1545 W PASSYUNK Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- On Street
- Standard status
- Active
- Size
- 3,805 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Annual Amount
- 7854
Utilities
- Heating system
- Baseboard, Hot Water(Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 1925
- Number of units
- 3
- Building materials
- Masonry
- Architectural style
- Other
Listing agent Dat Duong (215) 218-0939
Listing office Target Realty 612 Washington Avenue unit: 1, Philadelphia, PA (215) 218-0939
Listing date Nov 24, 2025
MLS# PAPH2561532
Listing URL
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.
HighLights
- Two‑building property legally consolidated into one address at 1545 W Passyunk (1545–1547 W Passyunk)
- First floor features 2 long‑term commercial units, with one lease renewed for another 5 years
- Upstairs apartment spans approx. 2nd and 3rd floors with nearly 2,000 SF of living space, including 3 bedrooms and 1.5 baths
- Private deck with roof access and center city skyline views from the upstairs apartment
- Central air cooling and hot water baseboard heating; masonry construction; on‑street parking
- Year built: 1925
Overview
An opportunity to own a consolidated two-building mixed-use asset at 1545 W Passyunk. The first floor features two long-term commercial units, with one unit recently renewed for approximately five additional years while the adjacent unit’s lease is up, creating near-term flexibility for an incoming tenant and new retail or office concept. Upstairs, the 2nd and 3rd floors are configured as a large three-bedroom, one-and-a-half-bath apartment spanning both 1545 and 1547, with a private deck and roof access. The residential space was recently renovated and is now occupied by new tenants.
The property is positioned in a great location with walkable access to transit options including bus and subway service, along with nearby neighborhood retail and services. Additional conveniences cited include Starbucks, banks, and a hospital, and the listing notes convenient drives to area destinations such as the Stadium and Navy Yard, as well as FDR Park.
For investors, this setup offers immediate rental income from the two commercial units plus ongoing residential tenancy, along with a clear leasing opportunity on the ground floor. For owner-operators or entrepreneurs, the current configuration supports taking over the available retail unit to establish a business while benefiting from the remaining leased units and upstairs apartment income.
The property is positioned in a great location with walkable access to transit options including bus and subway service, along with nearby neighborhood retail and services. Additional conveniences cited include Starbucks, banks, and a hospital, and the listing notes convenient drives to area destinations such as the Stadium and Navy Yard, as well as FDR Park.
For investors, this setup offers immediate rental income from the two commercial units plus ongoing residential tenancy, along with a clear leasing opportunity on the ground floor. For owner-operators or entrepreneurs, the current configuration supports taking over the available retail unit to establish a business while benefiting from the remaining leased units and upstairs apartment income.
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 | $115.5k | $30.36 |
| − Vacancy | −$6.7k | −$1.76 |
| EGI | $108.8k | $28.60 |
| − OpEx | −$49.0k | −$12.87 |
| NOI | $59.9k | $15.73 |
3,805 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$855.0K
$748.1K – $997.5K
NOI $59,851 @ 7.0% cap · market cap 7.77%
Second Best
Office B
$715.3K
$625.9K – $834.5K
NOI $50,072 @ 7.0% cap · market cap 6.50%
Theoretical Best
Multifamily LT 5
$927.6K
$811.7K – $1.08M
NOI $64,932 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
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Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.1726259
- Latitude
- 39.9251058
Nearby Similar for Sale
FAQs
What type of property is this?
Single family property - Consolidated two-building mixed-use property with two active retail units and a renovated, expansive upstairs apartment.
Where is this single family property located?
The property is located at 1545 W PASSYUNK Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $769,999.
What are key features of this property?
This property features: Two‑building property legally consolidated into one address at 1545 W Passyunk (1545–1547 W Passyunk); First floor features 2 long‑term commercial units, with one lease renewed for another 5 years; Upstairs apartment spans approx. 2nd and 3rd floors with nearly 2,000 SF of living space, including 3 bedrooms and 1.5 baths
