Modern Six-Unit Multifamily
1917 N 7TH STREET Philadelphia, PA 19122
For Sale
$1,540,000
MULTI_FAMILY - PHILADELPHIA, PA
Property Size7,180 SF
Price / SF$214.48
Days on Market95
Property Features for 1917 N 7TH STREET
General Information
- Property type
- Residential Multi Family
- Property subtype
- Townhouse
- Standard status
- Active
- Size
- 7,180 SF
Building Details
- Year built
- 2018
Listing Agency:
BHHS Fox & Roach Center City-Society Hill
(215) 627-6005
Listed By:
Philly Home Advisors
(267) 326-1272
Added: Apr 22
Changed: Jul 23
Last Checked: Jul 25 at 9:06PM
MLS# PAPH2611412
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2019, this modern six-unit multifamily property is fully leased and professionally managed. The unit mix includes four two-bedroom, two-bath units, one three-bedroom, three-and-a-half-bath unit, and one four-bedroom, four-bath residence with private backyard access. Units are described as having contemporary finishes, open-concept layouts, and in-unit laundry.
The property is located in Philadelphia near Temple University’s main campus, with the surrounding area benefiting from ongoing redevelopment activity described along North Broad Street and in the nearby Fishtown and Northern Liberties areas.
The asset is reported to generate approximately $140,580 in annual income, with a projected pro forma of $145,800 and an efficient expense ratio of approximately 23%. There are approximately three years remaining on the original ten-year tax abatement. The property is also located within a Qualified Opportunity Zone, as stated in the offering materials.
The property is located in Philadelphia near Temple University’s main campus, with the surrounding area benefiting from ongoing redevelopment activity described along North Broad Street and in the nearby Fishtown and Northern Liberties areas.
The asset is reported to generate approximately $140,580 in annual income, with a projected pro forma of $145,800 and an efficient expense ratio of approximately 23%. There are approximately three years remaining on the original ten-year tax abatement. The property is also located within a Qualified Opportunity Zone, as stated in the offering materials.
Key Highlights
- 2018‑built six‑unit multifamily property (built in 2019 per remarks) with fully leased, professionally managed in‑place income
- Unit mix includes four 2 bed/2 bath units, one 3 bed/3.5 bath unit, and one 4 bed/4 bath residence with private backyard access
- Annual income of approximately $140,580 with a projected pro forma of $145,800; expense ratio of approximately 23%
Financial Insights For Apartment 5plus
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 | $218.0k | $30.36 |
| − Vacancy | −$12.6k | −$1.76 |
| EGI | $205.3k | $28.60 |
| − OpEx | −$92.4k | −$12.87 |
| NOI | $112.9k | $15.73 |
7,180 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,938 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.75M
$1.53M – $2.04M
NOI $122,526 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Polished Hair Boutique
Hair Salon
FAQs
What type of property is this?
Apartment building - Built in 2019, this fully leased six-unit building offers an in-place income stream with a diversified unit mix.
Where is this apartment building located?
The property is located at 1917 N 7TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,540,000.
What are key features of this property?
This property features: 2018‑built six‑unit multifamily property (built in 2019 per remarks) with fully leased, professionally managed in‑place income; Unit mix includes four 2 bed/2 bath units, one 3 bed/3.5 bath unit, and one 4 bed/4 bath residence with private backyard access; Annual income of approximately $140,580 with a projected pro forma of $145,800; expense ratio of approximately 23%
