Corner Live-Work
228 West Ontario Street Philadelphia, PA 19140
228 West Ontario Street, Philadelphia, PA, 19140
$300,000
For Sale
$300,000
Corner property arranged for upstairs living with an income-producing business space on the ground level.
Property Size1,680 SF
Price / SF$178.57
Days on Market334
Property Features for 228 West Ontario Street
General Information
- Standard status
- Active
- Size
- 1,680 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1920
Listing agency
MIS Realty
(215) 833-8605
Listed by
Angela R Vinas
(215) 833-8605
Source
Compass
Added: Aug 23, 2025 Updated: Jul 20 at 7:10PM Checked: Jul 21 at 6:10AM
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 MIS Realty
Investment Insights
Based on property information with market context.
This corner live-work duplex offers a practical layout for combining occupancy and income. The arrangement supports living upstairs while providing space for a business directly below, creating flexibility for owner-occupiers or operators seeking a double-income approach.
The property is located at 228 West Ontario Street in Philadelphia, PA 19140.
If you’re looking for a building that can support both personal and business use under one roof, this corner configuration is built around that concept and is worth a closer look.
The property is located at 228 West Ontario Street in Philadelphia, PA 19140.
If you’re looking for a building that can support both personal and business use under one roof, this corner configuration is built around that concept and is worth a closer look.
Key Highlights
- Corner property arranged for upstairs living with an income‑producing business space on the ground level
- Above‑grade and below‑grade other structures reported
- Built in 1920
Local Financial Insights For Apartment 5plus
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 | $51.0k | $30.36 |
| − Vacancy | −$3.0k | −$1.76 |
| EGI | $48.0k | $28.60 |
| − OpEx | −$21.6k | −$12.87 |
| NOI | $26.4k | $15.73 |
1,680 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$409.6K
$358.4K – $477.8K
NOI $28,669 @ 7.0% cap · market cap 9.56%
Second Best
Apartment 5plus
$377.5K
$330.3K – $440.4K
NOI $26,426 @ 7.0% cap · market cap 8.81%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Corner property arranged for upstairs living with an income-producing business space on the ground level.
Where is this live-work space located?
The property is located at 228 West Ontario Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Corner property arranged for upstairs living with an income‑producing business space on the ground level; Above‑grade and below‑grade other structures reported; Built in 1920
