Double-Wide Mixed-Use Office and
1816 1816-18 E Passyunk Ave Philadelphia, PA 19148
New
1816 1816-18 E Passyunk Ave, Philadelphia, PA, 19148
$1,400,000
For Sale
$1,400,000
Street-to-street mixed-use building with a first-floor office delivered vacant and two leased bi-level 3-bedroom apartments.
Property Size4,476 SF
Price / SF$312.78
Days on Market2
Property Features for 1816 1816-18 E Passyunk Ave
General Information
- Standard status
- Active
- Size
- 4,476 SF
Building Details
- Year Built
- 1915
Listing agency
Century 21 Forrester Real Estate
(267) 688-1449
Listed by
Michael A Giangiordano II · License #RS338459
Source
Kandorre
Added: Jul 21 Updated: Jul 22 at 9:47AM Checked: Jul 22 at 9:47AM
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 Century 21 Forrester Real Estate
Investment Insights
Based on property information with market context.
This double-wide, street-to-street mixed-use building is legally two separate parcels (1816 and 1818 E Passyunk Avenue) but operates as one continuous property. The configuration includes a main entrance on E Passyunk Avenue into the commercial space, with two separate apartment entrances on the S 13th St side for 1811 and 1813 S 13th St.
The first floor is currently set up as an office and will be delivered vacant upon closing. The apartments are occupied and under lease, and both are bi-level 3-bedroom units spanning the 2nd and 3rd floors. The units are reported to be in good condition.
Separate utilities are provided for the units, with the exception of cold water/sewer.
The first floor is currently set up as an office and will be delivered vacant upon closing. The apartments are occupied and under lease, and both are bi-level 3-bedroom units spanning the 2nd and 3rd floors. The units are reported to be in good condition.
Separate utilities are provided for the units, with the exception of cold water/sewer.
Key Highlights
- 1915 street‑to‑street mixed‑use building on E Passyunk Ave and S 13th St
- Double‑wide building includes a first‑floor commercial space with main entrance on E Passyunk Ave, delivered vacant at closing
- Two bi‑level 3‑bedroom apartments on 2nd and 3rd floors, currently occupied and under lease
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 | $115.5k | $25.80 |
| − Vacancy | −$6.4k | −$1.42 |
| EGI | $109.1k | $24.38 |
| − OpEx | −$32.7k | −$7.31 |
| NOI | $76.4k | $17.06 |
4,476 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$954.8K – $1.27M
NOI $76,382 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$1.01M
$880.1K – $1.17M
NOI $70,405 @ 7.0% cap · market cap 5.03%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Street-to-street mixed-use building with a first-floor office delivered vacant and two leased bi-level 3-bedroom apartments.
Where is this duplex located?
The property is located at 1816 1816-18 E Passyunk Ave 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: 1915 street‑to‑street mixed‑use building on E Passyunk Ave and S 13th St; Double‑wide building includes a first‑floor commercial space with main entrance on E Passyunk Ave, delivered vacant at closing; Two bi‑level 3‑bedroom apartments on 2nd and 3rd floors, currently occupied and under lease
