Multifamily Apartment
For Sale
$1,900,000
Pending
1712 PINE STREET, Philadelphia, PA 19103
MULTI_FAMILY - PHILADELPHIA, PA
Property Size4,825 SF
Days on Market79
Property Features for 1712 PINE STREET
General Information
Property type
Residential Multi Family
Property subtype
Townhouse
Subdivision
RITTENHOUSE SQUARE
Standard status
Pending
Size
4,825 SF
Building Details
Year built
1890
Listing Agency:
BHHS Fox & Roach At the Harper Rittenhouse Square · Berkshire Hathaway HomeServices
(215) 546-0550
Listed By:
Reid Rosenthal · License #RS226037L
(267) 626-7613
Added: May 27
Changed: Jul 23
Last Checked: Aug 13 at 5:06AM
MLS# PAPH2624092
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully occupied multifamily apartment building offers a total of seven residences, including five one-bedroom units and two two-bedroom layouts. The property features modernized kitchens and provides tenants with private basement storage lockers. Dedicated two-car off-street parking is also included.
Located in Philadelphia within the Rittenhouse Square area, the building is described as being in close proximity to the UPenn and Drexel University campuses. The offering is positioned for walkable Center City living and convenient access to transit.
The current tenancy is reported as 100% leased, with the unit mix designed to serve a range of residential needs within a compact, rental-focused layout.
Located in Philadelphia within the Rittenhouse Square area, the building is described as being in close proximity to the UPenn and Drexel University campuses. The offering is positioned for walkable Center City living and convenient access to transit.
The current tenancy is reported as 100% leased, with the unit mix designed to serve a range of residential needs within a compact, rental-focused layout.
Key Highlights
- Multi‑family property built in 1890 with five 1‑bedroom units and two 2‑bedroom units
- 100% occupancy with all units fully leased
- Modernized kitchens in every unit
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
$75,895
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
3.99%
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%
$1,517,900
$1.5M
Cap Rate 7%
$1,084,214
$1.1M
Cap Rate 9%
$843,278
$843.3K
Market Conditions
NOI Build-Up for 4,825 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
$146.5K $30.36/SF
− Vacancy
−$8.5K −$1.76/SF
EGI
$138.0K $28.60/SF
− OpEx
−$62.1K −$12.87/SF
NOI
$75.9K $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%
$1,517,900
Cap Rate 7%
$1,084,214
Cap Rate 9%
$843,278
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$948.7K – $1.26M
NOI $75,895 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.18M
$1.03M – $1.37M
NOI $82,338 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
17,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 19103, PA
28,717
Population
20,064
Households
1.4
Avg Household Size
36
Median Age
81%
College-Educated
98%
High-School Grad
0.6 sq mi
ZIP Area
47,862
Density / Sq Mi
$97,940
Median Household Income
$76,680
Median Earnings
$1,955
Median Rent
$551,700
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 - Fully occupied multifamily with five one-bedroom and two two-bedroom units, plus private basement storage and off-street parking.
Where is this apartment building located?
The property is located at 1712 PINE STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Multi‑family property built in 1890 with five 1‑bedroom units and two 2‑bedroom units; 100% occupancy with all units fully leased; Modernized kitchens in every unit
