Five-Unit Apartment Portfolio with Vacant
For Sale
$350,000
2049 MARGARET Street, Philadelphia, PA 19124
MULTI_FAMILY - PHILADELPHIA, PA
Property Size1,200 SF
Lot Size0.02 Acres
Price / SF$291.67
Days on Market35
Property Features for 2049 MARGARET Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
On Street
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,200 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
1893
Utilities
Heating system
Electric (Heating), Baseboard
Building Details
Year built
1935
Number of units
3
Building materials
Frame
Listing Agency:
Keller Williams Real Estate - West Chester · Keller Williams Realty
(610) 399-5100
Listed By:
Deneen Sweeney · License #RS323144
(484) 888-3177
Added: Jul 9
Changed: Aug 5
Last Checked: Aug 12 at 10:06PM
MLS# PAPH2646300
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 offering combines three RM-1 parcels being sold together, including two addresses (2049 and 2051 Margaret Street) with five fully occupied 1-bedroom, 1-bathroom rental units. The portfolio is described as generating approximately a 9% cap rate, and the seller is offering the package as-is with no repairs. A new roof has recently been installed on the improved property.
The third parcel (2047 Margaret Street) is a vacant lot, providing flexibility for future development, expansion, additional parking, or outdoor space to complement the existing rental units.
The buildings at 2049 and 2051 Margaret Street were constructed in 1935 and are described as frame construction, heated with baseboard and electric. Parking is on street, and the location is minutes from I-95, with public transportation available at the corner for access to Center City Philadelphia and Philadelphia International Airport, plus nearby access to New Jersey.
The third parcel (2047 Margaret Street) is a vacant lot, providing flexibility for future development, expansion, additional parking, or outdoor space to complement the existing rental units.
The buildings at 2049 and 2051 Margaret Street were constructed in 1935 and are described as frame construction, heated with baseboard and electric. Parking is on street, and the location is minutes from I-95, with public transportation available at the corner for access to Center City Philadelphia and Philadelphia International Airport, plus nearby access to New Jersey.
Key Highlights
- Three RM‑1 parcels sold together: 2049, 2051 (five occupied 1BR/1BA units) plus 2047 vacant lot
- Approximately 9% cap rate for the portfolio described as fully occupied
- New roof recently installed on the improved property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,228
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$284,560
$284.6K
Cap Rate 7%
$203,257
$203.3K
Cap Rate 9%
$158,089
$158.1K
Market Conditions
NOI Build-Up for 1,200 SF
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.
Gross rent
$27.9K $23.28/SF
− Vacancy
−$2.1K −$1.72/SF
EGI
$25.9K $21.56/SF
− OpEx
−$11.6K −$9.70/SF
NOI
$14.2K $11.86/SF
Area
ZIP 19124
Vacancy
7.40%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$284,560
Cap Rate 7%
$203,257
Cap Rate 9%
$158,089
Alternative Uses
Best Use
Apartment 5plus
$203.3K
$177.9K – $237.1K
NOI $14,228 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$690.3K
$604.0K – $805.3K
NOI $48,318 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,739
Businesses Nearby
Explore this area
Business Placement
Demographics for 19124, PA
68,766
Population
27,014
Households
2.5
Avg Household Size
33
Median Age
15%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
13,484
Density / Sq Mi
$46,100
Median Household Income
$35,364
Median Earnings
$1,063
Median Rent
$155,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied five-unit RM-1 portfolio plus a vacant lot, with a recently installed roof and quick access to I-95.
Where is this apartment building located?
The property is located at 2049 MARGARET Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three RM‑1 parcels sold together: 2049, 2051 (five occupied 1BR/1BA units) plus 2047 vacant lot; Approximately 9% cap rate for the portfolio described as fully occupied; New roof recently installed on the improved property
