Rehabilitated 13-Unit
For Sale
$1,200,000
1601 W TIOGA STREET, Philadelphia, PA 19104
13-unit multifamily property fully rehabilitated with replaced electrical, plumbing, HVAC, roofing, and renovated interiors.
Property Size2,920 SF
Days on Market161
Property Features for 1601 W TIOGA STREET
General Information
Standard status
Active
Size
2,920 SF
Property subtype
Five Or More Units
Additional Details
Multifamily Units
13
Taxes and HOA fees
Annual Taxes
$11,022
Building Details
Building Size
2,920 SF
Year Built
1925
Listing Agency:
Realty One Group Supreme
Listed By:
Jeannie Suelke · License #RS349872
(267) 261-7799
Source:
Patmckennarealtors
Added: May 14
Changed: Oct 13
Last Checked: Oct 21 at 6:30AM
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 One Group Supreme
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Investment Insights
Based on property information with market context.
This fully rehabilitated 13-unit multifamily property was renovated from the studs out, with major components replaced or upgraded throughout. Reported improvements include electrical, plumbing, HVAC, roofing, flooring, kitchen and bathroom updates, and refreshed common areas. Unit interiors feature contemporary finishes and durable materials intended for long-term, low-maintenance operation.
The property is located at 1601 W Tioga St in Philadelphia, PA. It presents a turnkey configuration for an investor seeking a stabilized rental building with significantly reduced near-term maintenance requirements based on the renovation scope described.
With extensive work completed across both systems and finishes, the building is presented as a readily rentable asset designed to support ongoing residential income.
The property is located at 1601 W Tioga St in Philadelphia, PA. It presents a turnkey configuration for an investor seeking a stabilized rental building with significantly reduced near-term maintenance requirements based on the renovation scope described.
With extensive work completed across both systems and finishes, the building is presented as a readily rentable asset designed to support ongoing residential income.
Key Highlights
- 13‑unit multifamily property at 1601 West Tioga Street, fully rehabilitated from the studs out
- Major systems replaced or upgraded: electrical, plumbing, HVAC, and roofing
- Renovated interior features include updated flooring plus kitchen and bathroom renovations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,930
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$918,600
$918.6K
Cap Rate 7%
$656,143
$656.1K
Cap Rate 9%
$510,333
$510.3K
Market Conditions
NOI Build-Up for 2,920 SF
Gross rent
$88.7K $30.36/SF
− Vacancy
−$5.1K −$1.76/SF
EGI
$83.5K $28.60/SF
− OpEx
−$37.6K −$12.87/SF
NOI
$45.9K $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%
$918,600
Cap Rate 7%
$656,143
Cap Rate 9%
$510,333
Alternative Uses
Best Use
Apartment 5plus
$656.1K
$574.1K – $765.5K
NOI $45,930 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$711.8K
$622.9K – $830.5K
NOI $49,829 @ 7.0% cap · market cap 4.15%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
3,337
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - 13-unit multifamily property fully rehabilitated with replaced electrical, plumbing, HVAC, roofing, and renovated interiors.
Where is this apartment building located?
The property is located at 1601 W TIOGA 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: 13‑unit multifamily property at 1601 West Tioga Street, fully rehabilitated from the studs out; Major systems replaced or upgraded: electrical, plumbing, HVAC, and roofing; Renovated interior features include updated flooring plus kitchen and bathroom renovations
