Five-Unit Apartment Building with Private
1735 S 23rd Street, Philadelphia, PA 19145
For Sale
$1,400,000
A bi-level penthouse with outdoor space is part of the building’s varied apartment mix.
Property Size7,602 SF
Days on Market18
Property Features for 1735 S 23rd Street
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Taxes and HOA fees
Annual Taxes
Amenities
Natural Gas
Yes
No
Estimated
2
No Pool
Public
SR
0.00 x 0.00
0.05
Assessor
Concrete Perimeter
127300.00
Building Details
Building Size
Year Built
Listing Agency:
Keller Williams Liberty Place
(609) 399-5454
Listed By:
Ryan J McManus · License PA RS316262
(610) 606-1095
Source:
Kempandassociatesre
Added: Oct 26
Changed: Nov 12
Last Checked: Nov 12 at 2:05PM
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 Liberty Place
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Investment Insights
Based on property information with market context.
Built in 2021, this five-unit apartment property contains more than 7,600 SF and is zoned RM1. The unit mix includes two one-bedroom, one-bath apartments, two three-bedroom, three-bath apartments, and a bi-level penthouse with two bedrooms, two baths, and a private deck. Interiors feature contemporary finishes and natural light, with high-efficiency building systems serving the property.
At 1735 S 23rd Street in Philadelphia, the building has a 6.65% CAP and a full 10yr tax abatement.
At 1735 S 23rd Street in Philadelphia, the building has a 6.65% CAP and a full 10yr tax abatement.
Key Highlights
- Five‑unit apartment property with 7600+ SF
- Unit mix: two (2) 1bd x 1ba, two (2) 3bd x 3ba, and one (1) 2bd x 2ba bi‑level penthouse
- Penthouse includes a private deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,576
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,391,520
$2.4M
Cap Rate 7%
$1,708,229
$1.7M
Cap Rate 9%
$1,328,622
$1.3M
Market Conditions
NOI Build-Up for 7,602 SF
Gross rent
$230.8K $30.36/SF
− Vacancy
−$13.4K −$1.76/SF
EGI
$217.4K $28.60/SF
− OpEx
−$97.8K −$12.87/SF
NOI
$119.6K $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 Rate 5%
$2,391,520
Cap Rate 7%
$1,708,229
Cap Rate 9%
$1,328,622
Alternative Uses
Best Use
Apartment 5plus
$1.71M
$1.49M – $1.99M
NOI $119,576 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.85M
$1.62M – $2.16M
NOI $129,727 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,015
Businesses Nearby
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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
$290,100
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Philadelphia, PA
Properties on Market for Apartment buildings in Philadelphia
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - A bi-level penthouse with outdoor space is part of the building’s varied apartment mix.
Where is this apartment building located?
The property is located at 1735 S 23rd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Five‑unit apartment property with 7600+ SF; Unit mix: two (2) 1bd x 1ba, two (2) 3bd x 3ba, and one (1) 2bd x 2ba bi‑level penthouse; Penthouse includes a private deck
