Mixed-Use 3-Unit
For Sale
$725,000
2126 South Street, Philadelphia, PA 19146
CMX2-zoned property combines a storefront-style studio with two residential apartments and shared basement laundry facilities.
Property Size2,751 SF
Price / SF$263.54
Days on Market135
Property Features for 2126 South Street
General Information
Standard status
Active
Size
2,751 SF
Property subtype
Multi-Family / Fee Simple
Zoning
CMX2
Net Operating Income
$40,000
Units
Unit Mix
1 x studio, 1 x 1BR, 1 x 3BR/2BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,615
Amenities
common washer & dryer
No
Dishwasher, Dryer, Washer, Oven/Range - Gas
Crown Moldings, Curved Staircase, Skylight(s), Stain/Lead Glass, Window Treatments, Wood Floors
No Pool
Deck(s), Patio(s)
Building Details
Year Built
1915
Buildings
1
Listing Agency:
BHHS Fox & Roach-Center City Walnut
(267) 972-3056
Listed By:
Thomas A Reichner · License #RS-163894-L
(267) 972-3056
Source:
Compass
Added: Apr 18
Changed: Aug 30
Last Checked: Aug 30 at 4:05AM
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 BHHS Fox & Roach-Center City Walnut
Investment Insights
Based on property information with market context.
This 2,751-square-foot mixed-use property contains three residential units within a 1915 building. The street-level front space is configured as a studio apartment, while the rear portion provides a one-bedroom apartment with a garden, deck, and patio. The upper residence spans the second-floor front and third floor, offering three bedrooms and two bathrooms.
An unfinished basement provides shared washer and dryer access. Interior details include wood flooring, crown moldings, a curved staircase, skylights, stained or leaded glass, window treatments, and a gas oven/range with dishwasher. The property carries CMX2 zoning and is located at 2126 South Street in Philadelphia, within ZIP code 19146.
An unfinished basement provides shared washer and dryer access. Interior details include wood flooring, crown moldings, a curved staircase, skylights, stained or leaded glass, window treatments, and a gas oven/range with dishwasher. The property carries CMX2 zoning and is located at 2126 South Street in Philadelphia, within ZIP code 19146.
Key Highlights
- 2,751 SF mixed‑use building with three residential units
- CMX2 zoning
- Street‑level studio apartment plus one‑bedroom and three‑bedroom apartments
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
$46,946
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
6.48%
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%
$938,920
$938.9K
Cap Rate 7%
$670,657
$670.7K
Cap Rate 9%
$521,622
$521.6K
Market Conditions
NOI Build-Up for 2,751 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
$71.0K $25.80/SF
− Vacancy
−$3.9K −$1.42/SF
EGI
$67.1K $24.38/SF
− OpEx
−$20.1K −$7.31/SF
NOI
$46.9K $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 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%
$938,920
Cap Rate 7%
$670,657
Cap Rate 9%
$521,622
Alternative Uses
Best Use
Multifamily LT 5
$670.7K
$586.8K – $782.4K
NOI $46,946 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$618.2K
$540.9K – $721.2K
NOI $43,272 @ 7.0% cap · market cap 5.97%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
9,620
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
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?
Mixed-use property - CMX2-zoned property combines a storefront-style studio with two residential apartments and shared basement laundry facilities.
Where is this mixed-use property located?
The property is located at 2126 South Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 2,751 SF mixed‑use building with three residential units; CMX2 zoning; Street‑level studio apartment plus one‑bedroom and three‑bedroom apartments
