Open Loft
For Sale
$290,000
2135 E SUSQUEHANNA AVENUE Unit 1D, Philadelphia, PA 19125
Updated interiors, industrial character, and shared outdoor space define this condominium residence in a community-oriented building.
Property Size880 SF
Days on Market9
Property Features for 2135 E SUSQUEHANNA AVENUE Unit 1D
General Information
Standard status
Active
Size
880 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,649
Amenities
shared courtyard
Building Details
Building Size
880 SF
Year Built
1900
Listing Agency:
BHHS Fox & Roach-Chestnut Hill
Listed By:
Paula L Seitchik · License #RS273926
(215) 247-3750
Source:
Lizclarkrealestate
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 15 at 11:05AM
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-Chestnut Hill
Investment Insights
Based on property information with market context.
Unit 1D is a residential income property configured as an open loft condominium within a 13-unit building constructed in 1900. The interior combines high ceilings, exposed brick, original industrial detailing, and historic carriage doors that open to the exterior. A renovated kitchen includes shaker cabinetry and honed quartz countertops, while the bathroom features a new vanity and updated shower tile. A custom divider creates a defined sleeping area within the loft-style layout.
Residents share a courtyard designed for gardening, informal gatherings, and outdoor use. The property is located on E Susquehanna Avenue in Philadelphia’s Fishtown section, approximately one block from restaurants, shops, and entertainment venues. The EL and local bus service are a few blocks away, providing access to area destinations without relying solely on private transportation.
Residents share a courtyard designed for gardening, informal gatherings, and outdoor use. The property is located on E Susquehanna Avenue in Philadelphia’s Fishtown section, approximately one block from restaurants, shops, and entertainment venues. The EL and local bus service are a few blocks away, providing access to area destinations without relying solely on private transportation.
Key Highlights
- Loft condominium in a 13‑unit building
- 1900 construction with exposed brick, high ceilings, and original industrial details
- Updated kitchen with shaker cabinets and honed quartz countertops
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
$13,842
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
4.77%
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%
$276,840
$276.8K
Cap Rate 7%
$197,743
$197.7K
Cap Rate 9%
$153,800
$153.8K
Market Conditions
NOI Build-Up for 880 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
$26.7K $30.36/SF
− Vacancy
−$1.5K −$1.76/SF
EGI
$25.2K $28.60/SF
− OpEx
−$11.3K −$12.87/SF
NOI
$13.8K $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%
$276,840
Cap Rate 7%
$197,743
Cap Rate 9%
$153,800
Alternative Uses
Best Use
Apartment 5plus
$197.7K
$173.0K – $230.7K
NOI $13,842 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$214.5K
$187.7K – $250.3K
NOI $15,017 @ 7.0% cap · market cap 5.18%
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 - Updated interiors, industrial character, and shared outdoor space define this condominium residence in a community-oriented building.
Where is this residential income property located?
The property is located at 2135 E SUSQUEHANNA AVENUE Unit 1D Philadelphia, PA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Loft condominium in a 13‑unit building; 1900 construction with exposed brick, high ceilings, and original industrial details; Updated kitchen with shaker cabinets and honed quartz countertops
