3-Unit Mixed-Use
New
For Sale
$480,000
2323 MIFFLIN STREET, Philadelphia, PA 19145
A leased commercial space and two one-bedroom apartments provide three distinct components within one property.
Property Size2,632 SF
Days on Market3
Property Features for 2323 MIFFLIN STREET
General Information
Standard status
Active
Size
2,632 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
West Passyunk
Road Access
Yes
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,638
Amenities
central air
in-unit washer and dryer
Building Details
Building Size
2,632 SF
Year Built
1920
Year Renovated
2022
Listing Agency:
Realty Mark Cityscape
Listed By:
Cindy Nguyen · License #RS365058
(267) 495-8889
Source:
Patmckennarealtors
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 3:37PM
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 Realty Mark Cityscape
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Investment Insights
Based on property information with market context.
Renovation work was completed in 2022 at this three-unit mixed-use property. The ground-level commercial space is leased and includes a basement used for storage. Two one-bedroom apartments complete the unit mix, each with central air and an in-unit washer and dryer.
The parcel has over 72 feet of frontage on Point Breeze Avenue and 41 feet along Mifflin Street. It sits between Point Breeze and West Passyunk in Philadelphia. The building dates to 1920.
The parcel has over 72 feet of frontage on Point Breeze Avenue and 41 feet along Mifflin Street. It sits between Point Breeze and West Passyunk in Philadelphia. The building dates to 1920.
Key Highlights
- Three‑unit mixed‑use property renovated in 2022
- Commercial space is currently leased and has a basement for storage
- Two one‑bedroom apartments, each with central air and an in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,400
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,000
$828.0K
Cap Rate 7%
$591,429
$591.4K
Cap Rate 9%
$460,000
$460.0K
Market Conditions
NOI Build-Up for 2,632 SF
Gross rent
$79.9K $30.36/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$75.3K $28.60/SF
− OpEx
−$33.9K −$12.87/SF
NOI
$41.4K $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 Rate 5%
$828,000
Cap Rate 7%
$591,429
Cap Rate 9%
$460,000
Alternative Uses
Best Use
Apartment 5plus
$591.4K
$517.5K – $690.0K
NOI $41,400 @ 7.0% cap · market cap 8.63%
Second Best
Mixed Use
$446.7K
$390.9K – $521.1K
NOI $31,268 @ 7.0% cap · market cap 6.51%
Theoretical Best
Multifamily LT 5
$641.6K
$561.4K – $748.6K
NOI $44,915 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,639
Businesses Nearby
Explore this area
Business Placement
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A leased commercial space and two one-bedroom apartments provide three distinct components within one property.
Where is this mixed-use property located?
The property is located at 2323 MIFFLIN STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Three‑unit mixed‑use property renovated in 2022; Commercial space is currently leased and has a basement for storage; Two one‑bedroom apartments, each with central air and an in‑unit washer and dryer
