2223 FRANKFORD Avenue, Philadelphia, PA 19125
MULTI_FAMILY - PHILADELPHIA, PA
- Added:
- Jul 7, 2026
- Days on Market:
- 2
- Last Refresh:
- Jul 8 at 7:06 am
Property Features for 2223 FRANKFORD Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active
- Size
- 2,316 SF
- Lot size
- 0.03 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2704
Utilities
- Heating system
- Baseboard, Electric (Heating), Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1919
- Number of units
- 3
- Building materials
- Brick
Listing agent Heather M Bosco License #RS357191 (856) 469-3091
Listing office Keller Williams Hometown 120 Center Square Road unit: 203, Swedesboro, PA (856) 241-4343
Listing date Jul 7, 2026
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.
HighLights
- 3‑unit mixed‑use building with long‑term brewery tenant on the first floor and 2 rented residential units above
- First‑floor brewery tenant (Brewery ARS) operating under a multi‑year NNN lease
- Residential unit mix: 2nd‑floor 2BR/1BA and 3rd‑floor 1BR/1BA (both currently rented)
- Recent updates include newer roof, exterior paint, brick pointing, concrete front steps, and window replacements throughout
- Commercial and basement upgrades include plumbing and electrical improvements plus a new Bilco door
- Current gross annual income reported as $56,856; low annual real estate taxes of $3,230; zoned CMX‑2
Overview
The building is in Philadelphia’s Fishtown area on the Frankford Avenue business corridor, within the Fishtown Kensington Area Business Improvement District (FKABID). The property is described as walkable to the Girard or Berks Market-Frankford Line stations, with Center City reachable in two stops. It is zoned CMX-2 and has been maintained with numerous updates.
Recent improvements listed include a newer roof, exterior paint, brick pointing, concrete front steps, updated windows, carpeting, and a new front entry door, along with a new brewery entrance. Additional reported work for the apartments includes upgrades such as newer kitchen countertop and bathroom vanity updates on the second floor, and a newer kitchen, washer and dryer, updated lighting, refreshed paint, and carpeting on the third floor. The basement has also been improved with plumbing and electrical work and a new Bilco door. The property is described as having low annual real estate taxes of $3,230.
Local 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 | $59.8k | $25.80 |
| − Vacancy | −$3.3k | −$1.42 |
| EGI | $56.5k | $24.38 |
| − OpEx | −$16.9k | −$7.31 |
| NOI | $39.5k | $17.06 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.12877
- Latitude
- 39.97994
