Multifamily Property on South
For Sale
$1,000,000
Pending
1614 S Broad St, Philadelphia, PA 19145
Well-maintained multifamily property in South Philadelphia with income and upside.
Property Size3,492 SF
Days on Market219
Property Features for 1614 S Broad St
General Information
Standard status
Pending
Size
3,492 SF
Taxes and HOA fees
Annual Taxes
$7,208
Listing Agency:
SDG Management, LLC
(267) 239-2424
Listed By:
Jason Kleinman · License #RS362457
(908) 217-3922
Source:
Exprealty
Added: Jan 28
Changed: Sep 4
Last Checked: Sep 1 at 9:07PM
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 SDG Management, LLC
Investment Insights
Based on property information with market context.
Located along the South Broad Street corridor, this multifamily property offers seven one-bedroom, one-bathroom units. The property generates an annual rental income of $98,378. Several units have been fully renovated, including one below-grade unit, showcasing the achievable finish level and rent potential. The remaining units are in solid condition and present value-add opportunities through future turnover, allowing for incremental rent growth. Situated directly on the Broad Street Line, the property benefits from connectivity to Center City, Passyunk Square, and major employment centers. Ongoing investment along the Broad Street corridor reinforces the area’s appeal and long-term rental fundamentals. The property is well-positioned for investors seeking a stabilized asset with manageable growth potential in a South Philadelphia market. The building size is 3492 square feet.
Key Highlights
- High‑accessibility, transit‑oriented location directly on the Broad Street Line, providing excellent connectivity to key areas.
- Generates substantial annual rental income of $98,378.
- Well‑maintained multifamily property with a history of consistent care.
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
$54,927
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
5.49%
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%
$1,098,540
$1.1M
Cap Rate 7%
$784,671
$784.7K
Cap Rate 9%
$610,300
$610.3K
Market Conditions
NOI Build-Up for 3,492 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
$106.0K $30.36/SF
− Vacancy
−$6.1K −$1.76/SF
EGI
$99.9K $28.60/SF
− OpEx
−$44.9K −$12.87/SF
NOI
$54.9K $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 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%
$1,098,540
Cap Rate 7%
$784,671
Cap Rate 9%
$610,300
Alternative Uses
Best Use
Apartment 5plus
$784.7K
$686.6K – $915.5K
NOI $54,927 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$851.3K
$744.9K – $993.2K
NOI $59,591 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,142
Businesses Nearby
Explore this area
Business Placement
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained multifamily property in South Philadelphia with income and upside.
Where is this apartment building located?
The property is located at 1614 S Broad St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: High‑accessibility, transit‑oriented location directly on the Broad Street Line, providing excellent connectivity to key areas.; Generates substantial annual rental income of $98,378.; Well‑maintained multifamily property with a history of consistent care.
