5-Unit Apartment
2311 CHRISTIAN STREET Philadelphia, PA 19146
For Sale
$699,500
Five-unit apartment building with separated utilities (except cold water) and current gross income of $65,200.
Property Size1,875 SF
Price / SF$373.07
Days on Market15
Property Features for 2311 CHRISTIAN STREET
General Information
- Standard status
- Active
- Size
- 1,875 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing Agency:
Best City Homes Inc
(267) 977-8205
Listed By:
Richard B Moore · License #RM419421
(267) 977-8205
Source:
Cummingsrealtors
Added: Jul 11
Changed: Jul 23
Last Checked: Jul 25 at 11:48AM
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 Best City Homes Inc
Investment Insights
Based on property information with market context.
This is a 5-unit apartment building with a stable tenant base and long-term residents. The property is described as turnkey, with current gross income of $65,200 and tenants who pay on time each month. Utilities are separated for all tenants except cold water.
Located at 2311 Christian Street in the Graduate Hospital area, the building is positioned near restaurants, parks, and public transportation. The property’s surrounding walkability and transit convenience are supported by a Walk Score of 95, Transit Score of 85, and Bike Score of 94.
The current rents are reported as below market, and the offering references a current cap rate of 7.15.
Located at 2311 Christian Street in the Graduate Hospital area, the building is positioned near restaurants, parks, and public transportation. The property’s surrounding walkability and transit convenience are supported by a Walk Score of 95, Transit Score of 85, and Bike Score of 94.
The current rents are reported as below market, and the offering references a current cap rate of 7.15.
Key Highlights
- 5‑unit apartment building built in 1900 in Graduate Hospital
- Current gross income of $65,200 with current rents described as below market
- Stable tenant base with long‑term residents and on‑time payment reported for all tenants
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 | $56.9k | $30.36 |
| − Vacancy | −$3.3k | −$1.76 |
| EGI | $53.6k | $28.60 |
| − OpEx | −$24.1k | −$12.87 |
| NOI | $29.5k | $15.73 |
1,875 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$421.3K
$368.7K – $491.6K
NOI $29,493 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$457.1K
$400.0K – $533.3K
NOI $31,997 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five-unit apartment building with separated utilities (except cold water) and current gross income of $65,200.
Where is this apartment building located?
The property is located at 2311 CHRISTIAN STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $699,500.
What are key features of this property?
This property features: 5‑unit apartment building built in 1900 in Graduate Hospital; Current gross income of $65,200 with current rents described as below market; Stable tenant base with long‑term residents and on‑time payment reported for all tenants
