Other Multifamily Investment
3623 North 15th Street Philadelphia, PA 19140
For Sale
$350,000
Multifamily property with partial upgrades in progress, offered as-is with no warranties or guarantees.
Property Size1,766 SF
Price / SF$198.19
Days on Market256
Property Features for 3623 North 15th Street
General Information
- Standard status
- Active
- Size
- 1,766 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1930
Listing Agency:
Rittenhouse REO Specialist
(215) 568-7177
Listed By:
David P Quimby · License #RS315205
(215) 568-7177
Source:
Compass
Added: Nov 10, 2025
Changed: Jul 21
Last Checked: Jul 23 at 9:18AM
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 Rittenhouse REO Specialist
Investment Insights
Based on property information with market context.
This other multifamily investment property has some upgrades that are currently waiting to be finished. The property is being offered in as-is condition, with no warranties or guarantees.
Located at 3623 North 15th Street in Philadelphia, PA 19140, the home falls within the Philadelphia City School District.
The offering includes approximately 1,766 square feet of residential income property space. As presented, prospective buyers should plan for completion of remaining upgrades as needed.
Located at 3623 North 15th Street in Philadelphia, PA 19140, the home falls within the Philadelphia City School District.
The offering includes approximately 1,766 square feet of residential income property space. As presented, prospective buyers should plan for completion of remaining upgrades as needed.
Key Highlights
- Multifamily property built in 1930
- Partial upgrades are in progress, with some upgrades made and waiting to be finished
- Offered in as‑is condition with no warranties or guarantees
Financial Insights For Apartment 5plus
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 | $53.6k | $30.36 |
| − Vacancy | −$3.1k | −$1.76 |
| EGI | $50.5k | $28.60 |
| − OpEx | −$22.7k | −$12.87 |
| NOI | $27.8k | $15.73 |
1,766 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$396.8K
$347.2K – $463.0K
NOI $27,778 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$430.5K
$376.7K – $502.3K
NOI $30,137 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
FAQs
What type of property is this?
Multifamily property - Multifamily property with partial upgrades in progress, offered as-is with no warranties or guarantees.
Where is this multifamily property located?
The property is located at 3623 North 15th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Multifamily property built in 1930; Partial upgrades are in progress, with some upgrades made and waiting to be finished; Offered in as‑is condition with no warranties or guarantees
