13-Unit Apartment
2 S 46th Street Philadelphia, PA 19139
For Sale
$2,800,000
Thirteen 2-bedroom, 1-bath apartments are provided at a corner location in University City.
Property Size11,250 SF
Price / SF$248.89
Days on Market94
Property Features for 2 S 46th Street
General Information
- Standard status
- Active
- Size
- 11,250 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1930
Listing Agency:
Mallin Panchelli Nadel Realty Inc
(215) 413-4900
Listed By:
Nadia Bilynsky · License #RS311101
(215) 413-4900
Source:
Xome
Added: Apr 21
Changed: Jul 21
Last Checked: Jul 23 at 3:55AM
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 Mallin Panchelli Nadel Realty Inc
Investment Insights
Based on property information with market context.
This 13-unit apartment building offers a consistent unit mix, with (13) 2-bedroom, 1-bath residences, described as self-contained. The property is presented for sale by an owner with more than 15 years of ownership, with a reported rental history during that period.
The building is located at a highly trafficked corner of S 46th St. and Market St. in University City, providing convenient access to the surrounding area.
The offering also notes a potential value-add component, with opportunities for upgrades and improvements to help increase rents.
The building is located at a highly trafficked corner of S 46th St. and Market St. in University City, providing convenient access to the surrounding area.
The offering also notes a potential value-add component, with opportunities for upgrades and improvements to help increase rents.
Key Highlights
- 13‑unit apartment building with 2‑bedroom, 1‑bath units at 2‑8 S 46th St in University City
- Corner location at S 46th St and Market St
- Each unit is self‑contained
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 | $341.6k | $30.36 |
| − Vacancy | −$19.8k | −$1.76 |
| EGI | $321.7k | $28.60 |
| − OpEx | −$144.8k | −$12.87 |
| NOI | $177.0k | $15.73 |
11,250 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.53M
$2.21M – $2.95M
NOI $176,957 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.74M
$2.40M – $3.20M
NOI $191,980 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Thirteen 2-bedroom, 1-bath apartments are provided at a corner location in University City.
Where is this apartment building located?
The property is located at 2 S 46th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 13‑unit apartment building with 2‑bedroom, 1‑bath units at 2‑8 S 46th St in University City; Corner location at S 46th St and Market St; Each unit is self‑contained
