Two-Unit Duplex with Renovated
For Sale
$310,000
2328 NICHOLAS Street, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size1,314 SF
Lot Size0.02 Acres
Price / SF$235.92
Days on Market77
Property Features for 2328 NICHOLAS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,314 SF
Lot size
0.02 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
1317
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1925
Number of units
2
Building materials
Masonry
Buildings
1
Listing Agency:
Prime Realty Partners
(215) 770-9496
Listed By:
Cree McGee · License #RS368355
(302) 483-7912
Added: Aug 20
Changed: Nov 4
Last Checked: Nov 4 at 5:06PM
MLS# PAPH2662054
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.
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Investment Insights
Based on property information with market context.
At 2328 Nicholas Street, this masonry duplex contains two apartments, each with two bedrooms and one bathroom. The building totals 1,314 square feet on a 0.018-acre lot and was built in 1925. Central heating and central air conditioning serve the property, with on-street parking available. The upper apartment is occupied; the lower apartment has been renovated with updated cabinetry, countertops, lighting, and newer appliances, but is vacant pending sewer-line work in the street. A permit for the required work has been obtained.
The property is in Philadelphia’s 19121 ZIP code, with access to Temple University, Brewerytown, Fairmount, Center City, major highways, and public transportation. Restaurants, retail, and neighborhood amenities are also identified in the surrounding area.
The two-apartment layout combines an occupied unit with a renovated but currently vacant residence. Completing the sewer repair is necessary before the lower apartment can be occupied.
The property is in Philadelphia’s 19121 ZIP code, with access to Temple University, Brewerytown, Fairmount, Center City, major highways, and public transportation. Restaurants, retail, and neighborhood amenities are also identified in the surrounding area.
The two-apartment layout combines an occupied unit with a renovated but currently vacant residence. Completing the sewer repair is necessary before the lower apartment can be occupied.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 1,314‑square‑foot masonry building on a 0.018‑acre lot
- Built in 1925; central heating and central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,423
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,460
$448.5K
Cap Rate 7%
$320,329
$320.3K
Cap Rate 9%
$249,144
$249.1K
Market Conditions
NOI Build-Up for 1,314 SF
Gross rent
$33.9K $25.80/SF
− Vacancy
−$1.9K −$1.42/SF
EGI
$32.0K $24.38/SF
− OpEx
−$9.6K −$7.31/SF
NOI
$22.4K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,460
Cap Rate 7%
$320,329
Cap Rate 9%
$249,144
Alternative Uses
Best Use
Multifamily LT 5
$320.3K
$280.3K – $373.7K
NOI $22,423 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$295.3K
$258.4K – $344.5K
NOI $20,669 @ 7.0% cap · market cap 6.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,675
Businesses Nearby
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Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied, while the updated lower apartment awaits completion of permitted sewer-line work.
Where is this duplex located?
The property is located at 2328 NICHOLAS Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 1,314‑square‑foot masonry building on a 0.018‑acre lot; Built in 1925; central heating and central air conditioning
