Tenant-Occupied Multifamily Investment
1979 73RD Avenue Philadelphia, PA 19138
For Sale
$215,000
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,092 SF
Lot Size0.02 Acres
Price / SF$196.89
Days on Market782
Property Features for 1979 73RD Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- Alley, On Street
- Standard status
- Active
- Size
- 1,092 SF
- Lot size
- 0.02 Acres
Taxes and HOA fees
- Tax Annual Amount
- 1482
Utilities
- Heating system
- Forced Air
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1946
- Number of units
- 2
- Building materials
- Masonry
- Architectural style
- Other
Listing Agency:
Century 21 Advantage Gold-Elkins Park
(215) 887-4653
Listed By:
Bruce A Randolph · License #RS315898
(215) 779-6516
Added: Jun 3, 2024
Changed: Jul 13
Last Checked: Jul 24 at 11:06AM
MLS# PAPH2361716
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.
Investment Insights
Based on property information with market context.
This multifamily property, located in Philadelphia, PA, presents an investment opportunity. The property is tenant-occupied, with both the first and second floor units currently leased. The first-floor tenant participates in the Section 8 program, receiving $1,089 from PHA and contributing $91, according to the lease agreement. The second-floor tenant pays $1,000 per month, resulting in a total monthly income of $2,100. The property is being sold in as-is condition, and the seller will not be making any repairs. Showings are available by appointment only, with 24-hour notice required. The buyer's agent must accompany the buyer during showings. The lot size is 0.0241 acres and the property size is 1092 square feet.
Key Highlights
- Tenant‑occupied 2nd‑floor and 1st‑floor units at 1939 73rd Ave; sold as‑is with no repairs by seller
- 1st‑floor tenant on Section 8 lease: PHA pays $1,089 and tenant pays $91 per lease terms
- 2nd‑floor tenant pays $1,000 per lease terms; total stated income is $2,100
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 | $28.2k | $25.80 |
| − Vacancy | −$1.6k | −$1.42 |
| EGI | $26.6k | $24.38 |
| − OpEx | −$8.0k | −$7.31 |
| NOI | $18.6k | $17.06 |
1,092 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$266.2K
$232.9K – $310.6K
NOI $18,635 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$245.4K
$214.7K – $286.3K
NOI $17,177 @ 7.0% cap · market cap 7.99%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Multifamily property in Philadelphia with existing tenant leases.
Where is this duplex located?
The property is located at 1979 73RD Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Tenant‑occupied 2nd‑floor and 1st‑floor units at 1939 73rd Ave; sold as‑is with no repairs by seller; 1st‑floor tenant on Section 8 lease: PHA pays $1,089 and tenant pays $91 per lease terms; 2nd‑floor tenant pays $1,000 per lease terms; total stated income is $2,100
