Renovated Duplex Investment
234 W ERIE Avenue Philadelphia, PA 19140
For Sale
$229,900
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,064 SF
Lot Size0.03 Acres
Price / SF$216.07
Days on Market58
Property Features for 234 W ERIE Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active
- Size
- 1,064 SF
- Lot size
- 0.03 Acres
Taxes and HOA fees
- Tax Annual Amount
- 991
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1920
- Number of units
- 1
- Building materials
- Masonry
- Architectural style
- Other
Listing Agency:
RE/MAX Select Group
(215) 335-6900
Listed By:
Marco A Troche · License #AB069365
(267) 255-8132
Added: May 28
Changed: Jun 9
Last Checked: Jul 24 at 6:06AM
MLS# PAPH2627412
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.
Investment Insights
Based on property information with market context.
This fully renovated duplex presents a turnkey investment opportunity. The property features two updated 2-bedroom units with modern finishes throughout. Delivered completely vacant, the new owner has the ability to set market rents and start generating income immediately. It is suitable for investors or owner-occupants looking to offset their mortgage with rental income. The property is conveniently located near public transportation, shopping, schools, and major roadways. The lot size is 0.0257 acres, and the property size is 1064 square feet. The property is located in PHILADELPHIA, PA 19140.
Key Highlights
- Turnkey investment opportunity with two fully renovated 2‑bedroom units.
- Delivered completely vacant, allowing for immediate market rent setting.
- Ideal for investors or owner‑occupants seeking rental income to offset mortgage.
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 | $27.5k | $25.80 |
| − Vacancy | −$1.5k | −$1.42 |
| EGI | $25.9k | $24.38 |
| − OpEx | −$7.8k | −$7.31 |
| NOI | $18.2k | $17.06 |
1,064 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$259.4K
$227.0K – $302.6K
NOI $18,157 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$239.1K
$209.2K – $278.9K
NOI $16,736 @ 7.0% cap · market cap 7.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Turnkey duplex with modern finishes, ready for immediate income generation.
Where is this duplex located?
The property is located at 234 W ERIE Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Turnkey investment opportunity with two fully renovated 2‑bedroom units.; Delivered completely vacant, allowing for immediate market rent setting.; Ideal for investors or owner‑occupants seeking rental income to offset mortgage.
