Updated Three-Unit Multifamily
For Sale
$570,000
2 E MCPHERSON STREET, Philadelphia, PA 19119
Fully occupied apartments combine refreshed interiors, separate tenant-paid utilities, and a distinctive stone-and-brick exterior.
Property Size2,000 SF
Days on Market66
Property Features for 2 E MCPHERSON STREET
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Triplex
Occupancy
100%
Net Operating Income
$41,670
Financials
Asking Price
$600,000
Cap Rate
6.95%
Gross Income
$55,800
Site & Location
Neighborhood
East Mount Airy
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,942
Building Details
Building Size
2,000 SF
Year Built
1952
Construction
stone and brick
Listing Agency:
EXP Realty, LLC
Listed By:
Philippe Daouphars · License #RS307602
(267) 278-3631
Source:
Lizclarkrealestate
Added: Aug 19
Changed: Oct 21
Last Checked: Oct 23 at 4:16PM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1952, this approved triplex contains one 1-bedroom/1-bath apartment and two 2-bedroom/1-bath apartments. The fully occupied property has received kitchen and bathroom upgrades, with bright living areas, hardwood floors, and refreshed finishes throughout. Its stone-and-brick exterior adds a distinctive architectural element.
Located at 2 E McPherson Street in Philadelphia, the building uses separate utility metering, while the owner remains responsible for water. The existing three-unit configuration and established tenancy provide a clearly defined multifamily operating structure.
Located at 2 E McPherson Street in Philadelphia, the building uses separate utility metering, while the owner remains responsible for water. The existing three-unit configuration and established tenancy provide a clearly defined multifamily operating structure.
Key Highlights
- Approved triplex with one 1‑bedroom/1‑bath unit and two 2‑bedroom/1‑bath units
- Fully occupied three‑unit multifamily property
- Kitchen and bathroom upgrades completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,130
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,600
$682.6K
Cap Rate 7%
$487,571
$487.6K
Cap Rate 9%
$379,222
$379.2K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$51.6K $25.80/SF
− Vacancy
−$2.8K −$1.42/SF
EGI
$48.8K $24.38/SF
− OpEx
−$14.6K −$7.31/SF
NOI
$34.1K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,600
Cap Rate 7%
$487,571
Cap Rate 9%
$379,222
Alternative Uses
Best Use
Multifamily LT 5
$487.6K
$426.6K – $568.8K
NOI $34,130 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$449.4K
$393.2K – $524.3K
NOI $31,459 @ 7.0% cap · market cap 5.52%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
Explore this area
Business Placement
Demographics for 19119, PA
27,265
Population
13,909
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
8,019
Density / Sq Mi
$81,609
Median Household Income
$54,598
Median Earnings
$1,291
Median Rent
$326,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied apartments combine refreshed interiors, separate tenant-paid utilities, and a distinctive stone-and-brick exterior.
Where is this triplex located?
The property is located at 2 E MCPHERSON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Approved triplex with one 1‑bedroom/1‑bath unit and two 2‑bedroom/1‑bath units; Fully occupied three‑unit multifamily property; Kitchen and bathroom upgrades completed
