Philadelphia Multifamily Property for
For Sale
$399,000
275 S 56th St, Philadelphia, PA 19139
Multifamily property in Philadelphia, 1856 square feet.
Property Size1,856 SF
Price / SF$214.98
Days on Market233
Property Features for 275 S 56th St
General Information
Standard status
Active
Size
1,856 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
West Philadelphia
Building Details
Year Built
1925
Listing Agency:
Real Estate Management Advisors LLC
Listed By:
M.Ari Miller · License #RM423760
(215) 914-0700
Source:
Bethsamberg
Added: Mar 13
Changed: Oct 25
Last Checked: Oct 19 at 7:51AM
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 Real Estate Management Advisors LLC
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Investment Insights
Based on property information with market context.
Located in Philadelphia, this multifamily property offers approximately 1856 square feet of space. The property is situated within the 19139 MLS area and falls under the jurisdiction of the Philadelphia City School District.
Key Highlights
- Accessibility features include 2+ access exits, 32"+ wide doors, and 36"+ wide halls
- Located in Philadelphia, MLS Area 19139
- School District: Philadelphia City
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,194
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,880
$583.9K
Cap Rate 7%
$417,057
$417.1K
Cap Rate 9%
$324,378
$324.4K
Market Conditions
NOI Build-Up for 1,856 SF
Gross rent
$56.3K $30.36/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$53.1K $28.60/SF
− OpEx
−$23.9K −$12.87/SF
NOI
$29.2K $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%
$583,880
Cap Rate 7%
$417,057
Cap Rate 9%
$324,378
Alternative Uses
Best Use
Apartment 5plus
$417.1K
$364.9K – $486.6K
NOI $29,194 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$452.5K
$395.9K – $527.9K
NOI $31,672 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,486
Businesses Nearby
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Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property in Philadelphia, 1856 square feet.
Where is this multifamily property located?
The property is located at 275 S 56th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Accessibility features include 2+ access exits, 32"+ wide doors, and 36"+ wide halls; Located in Philadelphia, MLS Area 19139; School District: Philadelphia City
