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    Mixed-Use Property in Philadelphia Title is generated by Realmo AI

    178 W MASTER Street, Philadelphia, PA 19122

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    For Sale
    $449,000

    MULTI_FAMILY - PHILADELPHIA, PA

    Property size:
    1,836 SF
    Lot size:
    0.04 Acres
    Price / SF:
    $244/SF
    Added:
    Mar 10, 2026
    Days on Market:
    93
    Last Refresh:
    Jun 10 at 3:06 pm

    Property Features for 178 W MASTER Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    On Street
    Standard status
    Active
    Size
    1,836 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3229

    Utilities

    Cooling system
    Ductless

    Building Details

    Year built
    1915
    Number of units
    2
    Building materials
    Brick, Stucco

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    Listing Contact
    Miriam Mosquera-Martinez

    Listing agent Miriam Mosquera-Martinez License #RS334645

    Listing office Elfant Wissahickon-Chestnut Hill 8039 Germantown Avenue, Philadelphia, PA

    Listing date Mar 10, 2026

    MLS# PAPH2592138 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Income‑generating potential with a first‑floor commercial space and a two‑bedroom apartment
    • Prime location in fast‑growing Old Kensington, near Northern Liberties and Fishtown
    • Seller financing available with 15% down
    • Ideal for live/work setup
    • Opportunity to convert to a two‑unit building (variance required)
    • Constructed with durable brick and stucco

    Overview

    This mixed-use property features a commercial space on the first floor and a two-bedroom bi-level apartment on the second floor. The property is located in the Old Kensington neighborhood, with access to cafes, shops, and nightlife in Northern Liberties and Fishtown. The property is zoned RSA-5, and a variance will be required for multi-family use. The property offers income potential and is suitable for a live/work setup or conversion into a two-unit building. The property size is 1836 square feet and the lot size is 0.0372 acres.

    Local 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 $47.4k $25.80
    − Vacancy −$2.6k −$1.42
    EGI $44.8k $24.38
    − OpEx −$13.4k −$7.31
    NOI $31.3k $17.06
    1,836 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $447.6K
    $391.6K – $522.2K (±1% cap)
    NOI $31,331 @ 7.0% cap · market cap 6.98%
    Second Best
    Apartment 5plus
    $412.6K
    $361.0K – $481.3K (±1% cap)
    NOI $28,879 @ 7.0% cap · market cap 6.43%
    Theoretical Best
    —
    —
    same as Best Use
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.13826
    Latitude
    39.97215

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in Old Kensington with income potential.
    Where is this mixed-use property located?
    The property is located at 178 W MASTER Street Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Income‑generating potential with a first‑floor commercial space and a two‑bedroom apartment; Prime location in fast‑growing Old Kensington, near Northern Liberties and Fishtown; Seller financing available with 15% down
    More about this property
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