Residential Income
265 S 22nd St, Philadelphia, PA 19103
For Sale
$2,330,000
Multifamily property in Rittenhouse Square with strong attention to detail and abundant natural light.
Property Size8,532 SF
Days on Market141
Property Features for 265 S 22nd St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Building Size
Year Built
Listing Agency:
Mallin Panchelli Nadel Realty Inc
Listed By:
Veronica Blum · License PA RS290724
(267) 238-1728
Source:
Mpnrealty
Added: Jun 25
Changed: Nov 11
Last Checked: Nov 12 at 5:23AM
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 Mallin Panchelli Nadel Realty Inc
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Investment Insights
Based on property information with market context.
This multifamily residential income building offers a combination of well-regarded condition and distinctive interior detail, with an emphasis on natural light throughout. The overall presentation is described as fantastic, with characteristics that support a turn-key housing option for future occupants or an owner-operator seeking a well-maintained asset.
The property is located in Rittenhouse Square, where the remarks note proximity to 22nd Street. This central positioning is intended to serve tenants and buyers looking for a residential setting near one of Philadelphia’s most recognizable destinations.
From a practical standpoint, the building’s multifamily structure and strong condition make it a workable fit for buyers pursuing a residential income portfolio. Prospective tenants or owners should find the natural light and overall finishes consistent with a residential offering designed to feel comfortable and appealing day to day. Further diligence on unit configuration and current income details would be advisable for underwriting and leasing planning.
The property is located in Rittenhouse Square, where the remarks note proximity to 22nd Street. This central positioning is intended to serve tenants and buyers looking for a residential setting near one of Philadelphia’s most recognizable destinations.
From a practical standpoint, the building’s multifamily structure and strong condition make it a workable fit for buyers pursuing a residential income portfolio. Prospective tenants or owners should find the natural light and overall finishes consistent with a residential offering designed to feel comfortable and appealing day to day. Further diligence on unit configuration and current income details would be advisable for underwriting and leasing planning.
Key Highlights
- Multifamily building in Rittenhouse Square, located at Manning and 22nd Street
- Built in 1920
- Noted for abundant natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,204
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,684,080
$2.7M
Cap Rate 7%
$1,917,200
$1.9M
Cap Rate 9%
$1,491,156
$1.5M
Market Conditions
NOI Build-Up for 8,532 SF
Gross rent
$259.0K $30.36/SF
− Vacancy
−$15.0K −$1.76/SF
EGI
$244.0K $28.60/SF
− OpEx
−$109.8K −$12.87/SF
NOI
$134.2K $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%
$2,684,080
Cap Rate 7%
$1,917,200
Cap Rate 9%
$1,491,156
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,204 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.08M
$1.82M – $2.43M
NOI $145,598 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
16,339
Businesses Nearby
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Business Placement
Demographics for 19103, PA
28,717
Population
20,064
Households
1.4
Avg Household Size
36
Median Age
81%
College-Educated
98%
High-School Grad
0.6 sq mi
ZIP Area
47,862
Density / Sq Mi
$97,940
Median Household Income
$76,680
Median Earnings
$1,955
Median Rent
$551,700
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Philadelphia, PA
Properties on Market for Multifamily properties in Philadelphia
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property in Rittenhouse Square with strong attention to detail and abundant natural light.
Where is this multifamily property located?
The property is located at 265 S 22nd St Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,330,000.
What are key features of this property?
This property features: Multifamily building in Rittenhouse Square, located at Manning and 22nd Street; Built in 1920; Noted for abundant natural light
