Open Loft Residential Income
For Sale
$270,000
2135 E SUSQUEHANNA AVENUE Unit 1B, Philadelphia, PA 19125
Open-plan interiors pair exposed brick with a step-up kitchen and a defined sleeping area.
Property Size918 SF
Days on Market9
Property Features for 2135 E SUSQUEHANNA AVENUE Unit 1B
General Information
Standard status
Active
Size
918 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,635
Amenities
shared courtyard
Building Details
Building Size
918 SF
Year Built
1900
Listing Agency:
BHHS Fox & Roach-Chestnut Hill
Listed By:
Paula L Seitchik · License #RS273926
(215) 247-3750
Source:
Patmckennarealtors
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 15 at 8:24AM
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-Chestnut Hill
Investment Insights
Based on property information with market context.
Unit 1B is an open loft-style condominium within a 13-unit residential building constructed in 1900. The interior includes high ceilings, exposed brick, carriage doors that open outdoors, and a raised kitchen with an eating bar. A large living area and hanging room divider create a separate sleeping zone, while the bathroom includes a vanity and standing shower.
Residents share a courtyard designed for gardening and gathering. The property is located in Fishtown, one block from restaurants, shops, and entertainment venues, with the EL and local bus lines several blocks away.
Residents share a courtyard designed for gardening and gathering. The property is located in Fishtown, one block from restaurants, shops, and entertainment venues, with the EL and local bus lines several blocks away.
Key Highlights
- Open loft‑style condominium in a 13‑unit building
- High ceilings, exposed brick, and exterior‑opening carriage doors
- Raised kitchen with eating bar and large living area
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
$14,440
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
5.35%
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%
$288,800
$288.8K
Cap Rate 7%
$206,286
$206.3K
Cap Rate 9%
$160,444
$160.4K
Market Conditions
NOI Build-Up for 918 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 $30.36/SF
− Vacancy
−$1.6K −$1.76/SF
EGI
$26.3K $28.60/SF
− OpEx
−$11.8K −$12.87/SF
NOI
$14.4K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /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%
$288,800
Cap Rate 7%
$206,286
Cap Rate 9%
$160,444
Alternative Uses
Best Use
Apartment 5plus
$206.3K
$180.5K – $240.7K
NOI $14,440 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$223.8K
$195.8K – $261.1K
NOI $15,666 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,457
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-plan interiors pair exposed brick with a step-up kitchen and a defined sleeping area.
Where is this residential income property located?
The property is located at 2135 E SUSQUEHANNA AVENUE Unit 1B Philadelphia, PA.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Open loft‑style condominium in a 13‑unit building; High ceilings, exposed brick, and exterior‑opening carriage doors; Raised kitchen with eating bar and large living area
