Three-Story
For Sale
$700,000
531 W BERKS STREET, Philadelphia, PA 19122
Built in 2022, the property contains two separate residential units with contemporary finishes.
Property Size2,000 SF
Days on Market66
Property Features for 531 W BERKS STREET
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Duplex
Site & Location
Neighborhood
Kensington
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Building Details
Building Size
2,000 SF
Year Built
2022
Buildings
1
Stories
3
Listing Agency:
KW Empower
Listed By:
Christopher K Somers · License #RS278328
(267) 987-4443
Source:
Lizclarkrealestate
Added: Aug 19
Changed: Oct 21
Last Checked: Oct 23 at 12:40PM
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 KW Empower
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Investment Insights
Based on property information with market context.
Constructed in 2022, this duplex contains two distinct residential units arranged across three stories. Each residence includes three bedrooms and three full bathrooms, along with contemporary finishes, spacious bedrooms, and modern living areas. Separate unit layouts provide clear physical division between the residences.
The property is located at 531 W Berks Street in Philadelphia, Pennsylvania 19122. Its two-unit configuration offers a straightforward multifamily layout for residential occupancy, with both residences sharing the same newly constructed building.
The property is located at 531 W Berks Street in Philadelphia, Pennsylvania 19122. Its two-unit configuration offers a straightforward multifamily layout for residential occupancy, with both residences sharing the same newly constructed building.
Key Highlights
- Two residential units in one duplex property
- Each unit includes 3 bedrooms and 3 full bathrooms
- Three‑story building constructed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,130
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,600
$682.6K
Cap Rate 7%
$487,571
$487.6K
Cap Rate 9%
$379,222
$379.2K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$51.6K $25.80/SF
− Vacancy
−$2.8K −$1.42/SF
EGI
$48.8K $24.38/SF
− OpEx
−$14.6K −$7.31/SF
NOI
$34.1K $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%
$682,600
Cap Rate 7%
$487,571
Cap Rate 9%
$379,222
Alternative Uses
Best Use
Multifamily LT 5
$487.6K
$426.6K – $568.8K
NOI $34,130 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$449.4K
$393.2K – $524.3K
NOI $31,459 @ 7.0% cap · market cap 4.49%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Built in 2022, the property contains two separate residential units with contemporary finishes.
Where is this duplex located?
The property is located at 531 W BERKS STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Two residential units in one duplex property; Each unit includes 3 bedrooms and 3 full bathrooms; Three‑story building constructed in 2022
