Fully Leased
For Sale
$524,000
1705 W NORRIS ST, Philadelphia, PA 19121
Two occupied residential units each provide four bedrooms and four bathrooms in the Temple University area.
Property Size2,394 SF
Price / SF$218.88
Days on Market54
Property Features for 1705 W NORRIS ST
General Information
Standard status
Active
Size
2,394 SF
Property subtype
Multi-family
Listing Agency:
Keller Williams Main Line
(610) 520-0100
Listed By:
Sam A Akif · License #RS331003
(215) 617-6142
Source:
Careyrealtygroup
Added: Aug 30
Changed: Oct 19
Last Checked: Oct 20 at 7:59PM
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 Keller Williams Main Line
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Investment Insights
Based on property information with market context.
Built in 2015, this duplex contains two residential units, both currently occupied. Each unit includes 4 bedrooms and 4 bathrooms, providing a consistent configuration across the property. The asset is located in the Temple University area of Philadelphia, where access to public transportation and nearby neighborhood amenities supports convenient daily living.
The property is positioned at 1705 W Norris Street in Philadelphia, PA 19121. With both units leased, the building offers an established occupancy profile for an owner seeking a residential income property. The matching unit layouts and four-bedroom configurations provide a straightforward operating structure, while the Temple University-area setting connects the property to an active local rental environment.
The property is positioned at 1705 W Norris Street in Philadelphia, PA 19121. With both units leased, the building offers an established occupancy profile for an owner seeking a residential income property. The matching unit layouts and four-bedroom configurations provide a straightforward operating structure, while the Temple University-area setting connects the property to an active local rental environment.
Key Highlights
- Both residential units are currently occupied
- Each unit includes 4 bedrooms and 4 bathrooms
- Built in 2015
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,853
Cap Rate
7.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$817,060
$817.1K
Cap Rate 7%
$583,614
$583.6K
Cap Rate 9%
$453,922
$453.9K
Market Conditions
NOI Build-Up for 2,394 SF
Gross rent
$61.8K $25.80/SF
− Vacancy
−$3.4K −$1.42/SF
EGI
$58.4K $24.38/SF
− OpEx
−$17.5K −$7.31/SF
NOI
$40.9K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$817,060
Cap Rate 7%
$583,614
Cap Rate 9%
$453,922
Alternative Uses
Best Use
Multifamily LT 5
$583.6K
$510.7K – $680.9K
NOI $40,853 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$537.9K
$470.7K – $627.6K
NOI $37,656 @ 7.0% cap · market cap 7.19%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,097
Businesses Nearby
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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
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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?
Duplex - Two occupied residential units each provide four bedrooms and four bathrooms in the Temple University area.
Where is this duplex located?
The property is located at 1705 W NORRIS ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $524,000.
What are key features of this property?
This property features: Both residential units are currently occupied; Each unit includes 4 bedrooms and 4 bathrooms; Built in 2015
