New Construction Duplex with Rooftop
For Sale
$965,000
1702 N Gratz Street, Philadelphia, PA 19121
Built in 2020, this duplex offers two spacious rental units with central air and in-unit laundry.
Property Size4,844 SF
Price / SF$199.22
Days on Market69
Property Features for 1702 N Gratz Street
General Information
Standard status
Active
Size
4,844 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
central air
security systems
modern kitchens
private fenced patio
rooftop deck
Building Details
Year Built
2020
Tenancy
Multi
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
Andre Quain · License #RS339578
Source:
Deepcreeklake
Added: May 23
Changed: Jul 23
Last Checked: Jul 29 at 12:22AM
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 KW Empower
Investment Insights
Based on property information with market context.
Built in 2020, this turnkey duplex provides two fully outfitted rental units. The lower unit features a 5-bedroom, 4-bath layout with in-unit laundry, central air, security systems, and a modern kitchen with quartz countertops, stainless steel appliances, custom backsplash, and ample cabinet space, along with access to a private fenced patio. The upper unit offers a 6-bedroom, 4.5-bath configuration with the same modern finishes and in-unit laundry, plus a large rooftop deck.
Located in Philadelphia, just blocks from Temple University and near public transportation, the property offers convenient access to Center City, Fairmount, and Northern Liberties.
The current owner reports 100% occupancy during their ownership with no vacancy. Approximately four years remain on a full 10-year tax abatement, providing the next owner with continued tax savings through the remaining abatement period.
Located in Philadelphia, just blocks from Temple University and near public transportation, the property offers convenient access to Center City, Fairmount, and Northern Liberties.
The current owner reports 100% occupancy during their ownership with no vacancy. Approximately four years remain on a full 10-year tax abatement, providing the next owner with continued tax savings through the remaining abatement period.
Key Highlights
- Duplex built in 2020 with two large student rental units
- Lower unit: 5 bedrooms, 4 bathrooms, plus in‑unit laundry and central air
- Upper unit: 6 bedrooms, 4.5 bathrooms, plus in‑unit laundry and central air
Financial Insights For Multifamily LT 5
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 | $125.0k | $25.80 |
| − Vacancy | −$6.9k | −$1.42 |
| EGI | $118.1k | $24.38 |
| − OpEx | −$35.4k | −$7.31 |
| NOI | $82.7k | $17.06 |
4,844 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.03M – $1.38M
NOI $82,662 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$1.09M
$952.4K – $1.27M
NOI $76,194 @ 7.0% cap · market cap 7.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,126
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
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Frequently Asked Questions
What type of property is this?
Duplex - Built in 2020, this duplex offers two spacious rental units with central air and in-unit laundry.
Where is this duplex located?
The property is located at 1702 N Gratz Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $965,000.
What are key features of this property?
This property features: Duplex built in 2020 with two large student rental units; Lower unit: 5 bedrooms, 4 bathrooms, plus in‑unit laundry and central air; Upper unit: 6 bedrooms, 4.5 bathrooms, plus in‑unit laundry and central air
