Duplex with Three-Apartment
2626 ISLAND AVENUE, Philadelphia, PA 19153
For Sale
$385,000
Separate entrances and water heaters serve each apartment, with off-street parking on site.
Property Size1,884 SF
Days on Market9
Property Features for 2626 ISLAND AVENUE
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Highway Access
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Tesla Realty Group, LLC
Listed By:
Mikiyas Shewangizaw · License PA RS317054
(267) 972-8985
Source:
Patmckennarealtors
Added: Nov 6
Changed: Nov 12
Last Checked: Nov 12 at 1:42PM
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 Tesla Realty Group, LLC
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Investment Insights
Based on property information with market context.
Legally recognized as a duplex, this 1,884-square-foot property is arranged as three apartments: two two-bedroom units and one one-bedroom unit. Built in 1975 and renovated about three years ago, it features updated kitchens, bathrooms, hardwood flooring, and recessed lighting. Each apartment has its own entrance and water heater; the property also includes a side yard and private driveway with off-street parking.
All three apartments are tenant-occupied under month-to-month leases. One tenant is expected to vacate on December 1, 2026. The property is in Philadelphia, minutes from Philadelphia International Airport, Center City, and major highways. Buyers should confirm zoning and permitted use with the City of Philadelphia.
All three apartments are tenant-occupied under month-to-month leases. One tenant is expected to vacate on December 1, 2026. The property is in Philadelphia, minutes from Philadelphia International Airport, Center City, and major highways. Buyers should confirm zoning and permitted use with the City of Philadelphia.
Key Highlights
- Legally recognized duplex configured as three apartments: two 2‑bedroom units and one 1‑bedroom unit
- 1,884 square feet; built in 1975
- Renovated about three years ago, with updated kitchens, bathrooms, hardwood flooring, and recessed lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,150
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$643,000
$643.0K
Cap Rate 7%
$459,286
$459.3K
Cap Rate 9%
$357,222
$357.2K
Market Conditions
NOI Build-Up for 1,884 SF
Gross rent
$48.6K $25.80/SF
− Vacancy
−$2.7K −$1.42/SF
EGI
$45.9K $24.38/SF
− OpEx
−$13.8K −$7.31/SF
NOI
$32.2K $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%
$643,000
Cap Rate 7%
$459,286
Cap Rate 9%
$357,222
Alternative Uses
Best Use
Multifamily LT 5
$459.3K
$401.9K – $535.8K
NOI $32,150 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$423.3K
$370.4K – $493.9K
NOI $29,634 @ 7.0% cap · market cap 7.70%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
750
Businesses Nearby
Explore this area
Business Placement
Demographics for 19153, PA
11,985
Population
5,965
Households
2
Avg Household Size
41
Median Age
28%
College-Educated
92%
High-School Grad
10.1 sq mi
ZIP Area
1,187
Density / Sq Mi
$53,434
Median Household Income
$36,167
Median Earnings
$1,341
Median Rent
$198,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Philadelphia, PA
Properties on Market for Duplexes in Philadelphia
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances and water heaters serve each apartment, with off-street parking on site.
Where is this duplex located?
The property is located at 2626 ISLAND AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Legally recognized duplex configured as three apartments: two 2‑bedroom units and one 1‑bedroom unit; 1,884 square feet; built in 1975; Renovated about three years ago, with updated kitchens, bathrooms, hardwood flooring, and recessed lighting
