Mixed-Use Building with
1904 North 2nd Street Philadelphia, PA 19122
For Sale
$599,000
Fully leased building with three residential studios over one commercial retail space.
Property Size2,592 SF
Price / SF$231.10
Days on Market44
Property Features for 1904 North 2nd Street
General Information
- Standard status
- Active
- Size
- 2,592 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1925
Listing Agency:
Compass
(215) 203-6303
Listed By:
Emily Nussbaum · License #RS335286
(215) 203-6303
Source:
Compass
Added: Jun 11
Changed: Jul 23
Last Checked: Jul 23 at 5:10PM
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
Investment Insights
Based on property information with market context.
This mixed-use property is arranged as three residential units over one commercial retail space. The building is fully leased and income producing, with the residential units described as studios featuring similar levels of finish. Updates include a refresh in 2019 with updated kitchens, bathrooms, and flooring, and additional 2026 improvements such as a new asphalt roof, hot water heater, washer/dryer, and six new windows.
The property is located in Philadelphia (MLS area 19122). The permitting and inspection process was handled through the Philadelphia Bureau of Building Standards, and the building was formally and legally converted to reflect three residential units over retail space.
Current licensing documentation and rent roll are available for review upon request by qualified buyers. Buyer is responsible for independently verifying lot size, taxes, zoning, permitted uses, rental licensing, Certificate of Occupancy, and any egress/ingress requirements.
The property is located in Philadelphia (MLS area 19122). The permitting and inspection process was handled through the Philadelphia Bureau of Building Standards, and the building was formally and legally converted to reflect three residential units over retail space.
Current licensing documentation and rent roll are available for review upon request by qualified buyers. Buyer is responsible for independently verifying lot size, taxes, zoning, permitted uses, rental licensing, Certificate of Occupancy, and any egress/ingress requirements.
Key Highlights
- Mixed‑use CMX2.5 building with 3 residential units over 1 commercial retail space
- Fully leased income producing property generating $4,825/month ($57,900/year)
- 2026 updates include brand new asphalt roof, hot water heater, washer/dryer, and 6 new windows
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 | $66.9k | $25.80 |
| − Vacancy | −$3.7k | −$1.42 |
| EGI | $63.2k | $24.38 |
| − OpEx | −$19.0k | −$7.31 |
| NOI | $44.2k | $17.06 |
2,592 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$631.9K
$552.9K – $737.2K
NOI $44,232 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$582.4K
$509.6K – $679.5K
NOI $40,771 @ 7.0% cap · market cap 6.81%
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
A&E Locksmith
Locksmith
C Me Wink ...
Hair Salon
FAQs
What type of property is this?
Triplex - Fully leased building with three residential studios over one commercial retail space.
Where is this triplex located?
The property is located at 1904 North 2nd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Mixed‑use CMX2.5 building with 3 residential units over 1 commercial retail space; Fully leased income producing property generating $4,825/month ($57,900/year); 2026 updates include brand new asphalt roof, hot water heater, washer/dryer, and 6 new windows
