Two-Unit Duplex with
New
For Sale
$249,000
585 ALLENGROVE STREET, Philadelphia, PA 19120
One apartment is occupied by a tenant; the second is vacant and available for occupancy.
Property Size1,716 SF
Days on Market4
Property Features for 585 ALLENGROVE STREET
General Information
Standard status
Active
Size
1,716 SF
Total Parking Spaces
2
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,169
Amenities
laundry room
outdoor space
Building Details
Building Size
1,716 SF
Year Built
1974
Buildings
1
Listing Agency:
KW Empower
Listed By:
Lisa App · License #RS328134
(804) 389-1044
Source:
Mainlinekw
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 10 at 2:17AM
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
Investment Insights
Based on property information with market context.
This 1974 duplex contains two apartments, each configured with two bedrooms and one full bathroom. One unit is tenant-occupied, while the other is vacant. Both apartments have kitchens with cabinetry and stainless-steel appliances, along with a mix of hard-surface flooring and carpet. A separate laundry room has washer and dryer hookups, and the property includes outdoor space and a driveway with two-car parking.
The property is in Philadelphia’s Lawncrest neighborhood, near shopping, restaurants, schools, recreation, and public transportation. Roosevelt Boulevard (Route 1) provides access to destinations across Northeast Philadelphia.
The property is in Philadelphia’s Lawncrest neighborhood, near shopping, restaurants, schools, recreation, and public transportation. Roosevelt Boulevard (Route 1) provides access to destinations across Northeast Philadelphia.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bathroom
- One unit is tenant‑occupied; the other is vacant
- Built in 1974
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,589
Cap Rate
7.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,780
$371.8K
Cap Rate 7%
$265,557
$265.6K
Cap Rate 9%
$206,544
$206.5K
Market Conditions
NOI Build-Up for 1,716 SF
Gross rent
$28.6K $16.68/SF
− Vacancy
−$2.1K −$1.20/SF
EGI
$26.6K $15.48/SF
− OpEx
−$8.0K −$4.64/SF
NOI
$18.6K $10.83/SF
Area
ZIP 19120
Vacancy
7.22%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,780
Cap Rate 7%
$265,557
Cap Rate 9%
$206,544
Alternative Uses
Best Use
Multifamily LT 5
$265.6K
$232.4K – $309.8K
NOI $18,589 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$236.2K
$206.7K – $275.6K
NOI $16,534 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$409.9K
$358.7K – $478.2K
NOI $28,694 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
839
Businesses Nearby
Explore this area
Business Placement
Demographics for 19120, PA
66,177
Population
25,730
Households
2.6
Avg Household Size
35
Median Age
13%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
20,680
Density / Sq Mi
$51,993
Median Household Income
$32,980
Median Earnings
$1,186
Median Rent
$143,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - One apartment is occupied by a tenant; the second is vacant and available for occupancy.
Where is this duplex located?
The property is located at 585 ALLENGROVE STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bathroom; One unit is tenant‑occupied; the other is vacant; Built in 1974
