7-Unit Apartment
New
For Sale
$1,990,000
1809 Pine St, Philadelphia, PA 19103
All seven residences are leased through mid-2027, with separate utilities and central air throughout.
Property Size5,654 SF
Price / SF$351.96
Days on Market7
Property Features for 1809 Pine St
General Information
Standard status
Active
Size
5,654 SF
Total Parking Spaces
2
Property subtype
Commercial
Occupancy
100%
Site & Location
Neighborhood
Center City
Units
Unit Mix
7 x 1BR/1BA
Multifamily Units
7
Individually Metered Utilities
unspecified utilities
Additional Details
Tenant in Place
Yes
Amenities
central air
in-unit laundry
roof deck
basement storage locker
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Compass Pennsylvania, LLC
(610) 822-3356
Listed By:
Thomas S Dilsheimer · License #RS222491L
(610) 389-1482
Source:
Cummingsrealtors
Added: Oct 18
Changed: Oct 24
Last Checked: Oct 23 at 5:59PM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
This 1890 Philadelphia apartment property contains seven one-bedroom, one-bathroom residences and two parking spaces. Central air serves every apartment, and some units have in-unit laundry. A roof deck is located on the top floor, while basement storage lockers provide space for each residence. The building has been updated and is separately metered for utilities.
All seven apartments are leased through mid-2027. The property is on Pine Street, within walking distance of Rittenhouse Square, Fitler Square, the Schuylkill River Trail, and Walnut Street shops and restaurants. University City and major hospital and university employers are also accessible from the property.
All seven apartments are leased through mid-2027. The property is on Pine Street, within walking distance of Rittenhouse Square, Fitler Square, the Schuylkill River Trail, and Walnut Street shops and restaurants. University City and major hospital and university employers are also accessible from the property.
Key Highlights
- Seven one‑bedroom, one‑bathroom apartments
- Two parking spaces
- All apartments leased through mid‑2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,935
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,778,700
$1.8M
Cap Rate 7%
$1,270,500
$1.3M
Cap Rate 9%
$988,167
$988.2K
Market Conditions
NOI Build-Up for 5,654 SF
Gross rent
$171.7K $30.36/SF
− Vacancy
−$10.0K −$1.76/SF
EGI
$161.7K $28.60/SF
− OpEx
−$72.8K −$12.87/SF
NOI
$88.9K $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 Rate 5%
$1,778,700
Cap Rate 7%
$1,270,500
Cap Rate 9%
$988,167
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $88,935 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.38M
$1.21M – $1.61M
NOI $96,485 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
7
Residential units
100%
Occupancy
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - All seven residences are leased through mid-2027, with separate utilities and central air throughout.
Where is this apartment building located?
The property is located at 1809 Pine St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Seven one‑bedroom, one‑bathroom apartments; Two parking spaces; All apartments leased through mid‑2027
