Fully Renovated Duplex
For Sale
$229,900
234 West Erie Avenue, Philadelphia, PA 19140
Renovated duplex with two updated two-bedroom units, delivered vacant and ready for immediate rental operation.
Property Size1,064 SF
Price / SF$216.07
Days on Market103
Property Features for 234 West Erie Avenue
General Information
Standard status
Active
Size
1,064 SF
Property subtype
Multi-Family / Fee Simple
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
RE/MAX Affiliates
(267) 255-8132
Listed By:
Marco A Troche · License #RS309601
(267) 255-8132
Source:
Compass
Added: Apr 20
Changed: Jul 10
Last Checked: Jul 31 at 12:38PM
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 RE/MAX Affiliates
Investment Insights
Based on property information with market context.
This fully renovated duplex offers two updated 2-bedroom units with modern finishes throughout. The property is delivered completely vacant, giving the new owner the ability to take possession and begin operating the rental units without tenant-transition delays.
Located in Philadelphia County near public transportation, shopping, schools, and major roadways, the setting supports everyday convenience for residents. The school district information is PHILADELPHIA CITY, as provided in the listing.
With a straightforward two-unit layout and turnkey condition, this property can fit investors seeking a manageably sized rental asset or an owner-occupant looking to offset housing costs with rental income from the second unit. As presented, the duplex is ready for immediate occupancy planning and leasing decisions upon acquisition.
Located in Philadelphia County near public transportation, shopping, schools, and major roadways, the setting supports everyday convenience for residents. The school district information is PHILADELPHIA CITY, as provided in the listing.
With a straightforward two-unit layout and turnkey condition, this property can fit investors seeking a manageably sized rental asset or an owner-occupant looking to offset housing costs with rental income from the second unit. As presented, the duplex is ready for immediate occupancy planning and leasing decisions upon acquisition.
Key Highlights
- Fully renovated duplex with two updated 2‑bedroom units
- Delivered completely vacant, allowing the new owner to set market rents and start rental income immediately
- Interior accessibility includes 2+ access exits
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,145
Businesses Nearby
Explore this area
Business Placement
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex with two updated two-bedroom units, delivered vacant and ready for immediate rental operation.
Where is this duplex located?
The property is located at 234 West 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: Fully renovated duplex with two updated 2‑bedroom units; Delivered completely vacant, allowing the new owner to set market rents and start rental income immediately; Interior accessibility includes 2+ access exits
