Historic 7-Unit Apartment
5015 MCKEAN AVENUE, Philadelphia, PA 19144
For Sale
$1,000,000
Pending
Renovation is approximately 75% complete, with new mechanical, plumbing, electrical, framing, and cabinetry installed.
Property Size4,382 SF
Lot Size0.49 Acres
Days on Market102
Property Features for 5015 MCKEAN AVENUE
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Additional Details
Unit Mix
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Listing Agency:
Keller Williams Main Line
Listed By:
Sam A Akif · License PA RS331003
(215) 617-6142
Source:
Mainlinekw
Added: Aug 3
Changed: Nov 9
Last Checked: Nov 10 at 1:50PM
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 Keller Williams Main Line
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Investment Insights
Based on property information with market context.
This historic apartment property contains 4,382 square feet on a 21,318-square-foot lot and includes seven apartments plus a detached carriage house. The unit mix comprises four one-bedroom apartments, one studio, one two-bedroom, two-bath apartment, and one three-bedroom, two-bath apartment. Central air is among the interior features, and parking is present on the property.
Renovation work is approximately 75% complete. New plumbing, electrical systems, water heaters, framing, and cabinetry have been installed, leaving primarily finish work. The building is currently vacant. All permits have expired, and older stamped plans will be provided to the buyer. The property is offered in as-is, where-is condition.
The property is located at 5015 McKean Avenue in Philadelphia’s Germantown area, near the Germantown Cricket Club. The site measures 168.00 x 127.00, and the building dates to 1930.
Renovation work is approximately 75% complete. New plumbing, electrical systems, water heaters, framing, and cabinetry have been installed, leaving primarily finish work. The building is currently vacant. All permits have expired, and older stamped plans will be provided to the buyer. The property is offered in as-is, where-is condition.
The property is located at 5015 McKean Avenue in Philadelphia’s Germantown area, near the Germantown Cricket Club. The site measures 168.00 x 127.00, and the building dates to 1930.
Key Highlights
- 7‑unit apartment property with a detached carriage house
- 4,382 square feet on a 21,318‑square‑foot lot
- Unit mix includes four one‑bedroom apartments, one studio, and two larger apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,927
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,378,540
$1.4M
Cap Rate 7%
$984,671
$984.7K
Cap Rate 9%
$765,856
$765.9K
Market Conditions
NOI Build-Up for 4,382 SF
Gross rent
$133.0K $30.36/SF
− Vacancy
−$7.7K −$1.76/SF
EGI
$125.3K $28.60/SF
− OpEx
−$56.4K −$12.87/SF
NOI
$68.9K $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%
$1,378,540
Cap Rate 7%
$984,671
Cap Rate 9%
$765,856
Alternative Uses
Best Use
Apartment 5plus
$984.7K
$861.6K – $1.15M
NOI $68,927 @ 7.0% cap · market cap 6.89%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.07M
$934.7K – $1.25M
NOI $74,778 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,037
Businesses Nearby
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Business Placement
Demographics for 19144, PA
44,481
Population
23,583
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
90%
High-School Grad
3.6 sq mi
ZIP Area
12,356
Density / Sq Mi
$45,727
Median Household Income
$36,020
Median Earnings
$1,110
Median Rent
$224,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Philadelphia, PA
Properties on Market for Apartment buildings in Philadelphia
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovation is approximately 75% complete, with new mechanical, plumbing, electrical, framing, and cabinetry installed.
Where is this apartment building located?
The property is located at 5015 MCKEAN AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 7‑unit apartment property with a detached carriage house; 4,382 square feet on a 21,318‑square‑foot lot; Unit mix includes four one‑bedroom apartments, one studio, and two larger apartments
