Remodeled Two-Unit
For Sale
$385,000
2032 S 22ND STREET, Philadelphia, PA 19145
Legally zoned RM-1 duplex with separate entrances and recent interior renovations.
Property Size1,550 SF
Days on Market21
Property Features for 2032 S 22ND STREET
General Information
Standard status
Active
Size
1,550 SF
Property subtype
Duplex
Zoning
RM-1
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,348
Amenities
in-unit laundry
private outdoor area
basement storage
Building Details
Building Size
1,550 SF
Year Built
1920
Buildings
1
Listing Agency:
Realty Mark Associates
(267) 918-5234
Listed By:
Kevin Le · License #RS349630
(267) 918-5234
Source:
Patmckennarealtors
Added: Jul 15
Changed: Aug 4
Last Checked: Aug 4 at 7:19AM
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 Realty Mark Associates
Investment Insights
Based on property information with market context.
This two-unit duplex, built in 1920, includes matching two-bedroom, one-bathroom residences with separate entrances. The first-floor unit is occupied and features new flooring, a renovated kitchen with appliances, an updated bathroom, in-unit stacking laundry, private rear outdoor space, and an unfinished basement for storage. Building-wide improvements completed in 2024 included plumbing, electrical, sheetrock, and insulation, with City-approved permits. The second-floor residence was renovated in 2025 and has its own entrance from 22nd Street.
The property is zoned RM-1 and positioned in Philadelphia’s West Passyunk/Girard Estate area. It is located near the Passyunk Avenue commercial corridor, the Broad Street Line subway, local parks, Center City, the Philadelphia Sports Complex, and Philadelphia International Airport. One residence is currently occupied, while the other is available for owner use or future tenancy.
The property is zoned RM-1 and positioned in Philadelphia’s West Passyunk/Girard Estate area. It is located near the Passyunk Avenue commercial corridor, the Broad Street Line subway, local parks, Center City, the Philadelphia Sports Complex, and Philadelphia International Airport. One residence is currently occupied, while the other is available for owner use or future tenancy.
Key Highlights
- RM‑1‑zoned duplex with two 2‑bedroom, 1‑bathroom units
- Extensive improvements completed in 2024 with City‑approved permits
- Second‑floor residence renovated in 2025 with a private 22nd Street entrance
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 | $40.0k | $25.80 |
| − Vacancy | −$2.2k | −$1.42 |
| EGI | $37.8k | $24.38 |
| − OpEx | −$11.3k | −$7.31 |
| NOI | $26.5k | $17.06 |
1,550 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$377.9K
$330.6K – $440.9K
NOI $26,451 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$348.3K
$304.8K – $406.4K
NOI $24,381 @ 7.0% cap · market cap 6.33%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,973
Businesses Nearby
Explore this area
Business Placement
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Legally zoned RM-1 duplex with separate entrances and recent interior renovations.
Where is this duplex located?
The property is located at 2032 S 22ND STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: RM‑1‑zoned duplex with two 2‑bedroom, 1‑bathroom units; Extensive improvements completed in 2024 with City‑approved permits; Second‑floor residence renovated in 2025 with a private 22nd Street entrance
