Modern Two-Unit
For Sale
$929,000
1702 N GRATZ STREET, Philadelphia, PA 19121
Two fully appointed student-rental units offer private outdoor space, rooftop access, and contemporary in-unit amenities.
Property Size4,844 SF
Days on Market62
Property Features for 1702 N GRATZ STREET
General Information
Standard status
Active
Size
4,844 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x 5BR/4BA, 1 x 6BR/4.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,680
Amenities
in-unit laundry
central air
security systems
private fenced patio
rooftop deck
Building Details
Building Size
4,844 SF
Year Built
2020
Buildings
1
Listing Agency:
KW Empower
(215) 500-9180
Listed By:
Andre Quain · License #RS339578
(215) 500-9180
Source:
Patmckennarealtors
Added: Jun 4
Changed: Aug 4
Last Checked: Aug 4 at 5:46AM
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.
Completed in 2020, this duplex contains two student-oriented rental residences: a lower-level five-bedroom, four-bath unit and an upper-level six-bedroom, four-and-a-half-bath unit. Both residences include central air, in-unit laundry, security systems, quartz-counter kitchens with stainless steel appliances, tiled bathrooms, and substantial cabinet storage. Outdoor features include a fenced patio serving the lower unit and a rooftop deck with city views for the upper residence.
The property is located at 1702 N Gratz Street in Philadelphia, near Temple University and public transportation, with access to Center City, Fairmount, and Northern Liberties. The current owner reports 100% occupancy with no vacancy during the ownership period. Approximately 4 years remain on the full 10-year tax abatement.
The property is located at 1702 N Gratz Street in Philadelphia, near Temple University and public transportation, with access to Center City, Fairmount, and Northern Liberties. The current owner reports 100% occupancy with no vacancy during the ownership period. Approximately 4 years remain on the full 10-year tax abatement.
Key Highlights
- Two‑unit duplex built in 2020
- Lower unit: 5 bedrooms and 4 baths; private fenced patio
- Upper unit: 6 bedrooms and 4.5 baths; rooftop deck
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 8.90%
Second Best
Apartment 5plus
$1.09M
$952.4K – $1.27M
NOI $76,194 @ 7.0% cap · market cap 8.20%
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
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 - Two fully appointed student-rental units offer private outdoor space, rooftop access, and contemporary in-unit amenities.
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 $929,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2020; Lower unit: 5 bedrooms and 4 baths; private fenced patio; Upper unit: 6 bedrooms and 4.5 baths; rooftop deck
