Three-Bedroom Residential Income
New
For Sale
$575,000
2615 E BOSTON STREET Unit 2, Philadelphia, PA 19125
Custom pantry and closet systems provide extensive organized storage throughout the residence.
Property Size2,115 SF
Price / SF$273.81
Days on Market7
Property Features for 2615 E BOSTON STREET Unit 2
General Information
Standard status
Active
Size
2,115 SF
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Neighborhood
Kensington
Highway Access
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,624
Building Details
Building Size
2,115 SF
Year Built
2024
Listing Agency:
Coldwell Banker Realty
Listed By:
Shaina Levin · License #RS347883
(215) 840-7500
Source:
Patmckennarealtors
Added: Oct 24
Changed: Oct 27
Last Checked: Oct 28 at 4:52PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Built in 2024, this corner residence offers approximately 2,100 square feet, three bedrooms, and two and a half bathrooms. The open living and dining area connects to a contemporary kitchen. Custom pantry and closet systems add storage, and one bedroom is configured as a dressing room with the flexibility to serve as an office or bedroom. A real estate tax abatement has several years remaining.
The property is in Philadelphia’s Fishtown neighborhood, near restaurants, cafes, shops, and entertainment. The Aramingo shopping corridor is nearby, with grocery shopping and businesses including Starbucks, Chipotle, and Honeygrow. I-95 provides access toward Center City and beyond.
The property is in Philadelphia’s Fishtown neighborhood, near restaurants, cafes, shops, and entertainment. The Aramingo shopping corridor is nearby, with grocery shopping and businesses including Starbucks, Chipotle, and Honeygrow. I-95 provides access toward Center City and beyond.
Key Highlights
- Approximately 2,100 square feet with three bedrooms and two and a half bathrooms
- Built in 2024
- Corner residence with open living and dining areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,032
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$660,640
$660.6K
Cap Rate 7%
$471,886
$471.9K
Cap Rate 9%
$367,022
$367.0K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$63.8K $30.36/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$60.1K $28.60/SF
− OpEx
−$27.0K −$12.87/SF
NOI
$33.0K $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%
$660,640
Cap Rate 7%
$471,886
Cap Rate 9%
$367,022
Alternative Uses
Best Use
Apartment 5plus
$471.9K
$412.9K – $550.5K
NOI $33,032 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$511.9K
$448.0K – $597.3K
NOI $35,836 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,837
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Custom pantry and closet systems provide extensive organized storage throughout the residence.
Where is this residential income property located?
The property is located at 2615 E BOSTON STREET Unit 2 Philadelphia, PA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Approximately 2,100 square feet with three bedrooms and two and a half bathrooms; Built in 2024; Corner residence with open living and dining areas
