Renovated Two-Unit
For Sale
$279,900
5902 ADDISON STREET, Philadelphia, PA 19143
Updated duplex with one occupied apartment and a vacant lower-level unit featuring a separate entrance and added storage.
Property Size1,224 SF
Price / SF$228.68
Days on Market73
Property Features for 5902 ADDISON STREET
General Information
Standard status
Active
Size
1,224 SF
Property subtype
Duplex
Zoning
RM1
Units
Unit Mix
3BR/1BA, 1BR/1BA
Multifamily Units
2
Amenities
central air
Building Details
Year Built
1925
Buildings
1
Tenancy
Single
Listing Agency:
Canaan Realty Services INC
(215) 333-1826
Listed By:
Phillyn Noeun · License #RS357549
(267) 269-6178
Source:
Cummingsrealtors
Added: Aug 11
Changed: Oct 21
Last Checked: Oct 20 at 10:28PM
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 Canaan Realty Services INC
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Investment Insights
Based on property information with market context.
Renovated duplex comprising two residential units within a 1,224-square-foot property built in 1925. The main-level apartment offers three bedrooms and one full bathroom and is occupied by a tenant who pays all utilities. The lower-level apartment has a private side entrance, one bedroom, one full bathroom, an open kitchen, living area, and additional storage; this unit is currently vacant.
The property is identified as RM1 and is located at 5902 Addison Street in Philadelphia, Pennsylvania. Showings of the occupied apartment require 24–48 hours’ notice.
The property is identified as RM1 and is located at 5902 Addison Street in Philadelphia, Pennsylvania. Showings of the occupied apartment require 24–48 hours’ notice.
Key Highlights
- Two‑unit duplex with 1,224 square feet and 1925 construction
- Renovated interior with central air throughout
- Main‑level unit includes 3 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,260
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,200
$265.2K
Cap Rate 7%
$189,429
$189.4K
Cap Rate 9%
$147,333
$147.3K
Market Conditions
NOI Build-Up for 1,224 SF
Gross rent
$20.4K $16.68/SF
− Vacancy
−$1.5K −$1.20/SF
EGI
$18.9K $15.48/SF
− OpEx
−$5.7K −$4.64/SF
NOI
$13.3K $10.83/SF
Area
ZIP 19143
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%
$265,200
Cap Rate 7%
$189,429
Cap Rate 9%
$147,333
Alternative Uses
Best Use
Multifamily LT 5
$189.4K
$165.8K – $221.0K
NOI $13,260 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$168.5K
$147.4K – $196.6K
NOI $11,794 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$419.5K
$367.1K – $489.5K
NOI $29,367 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,484
Businesses Nearby
Explore this area
Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
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 - Updated duplex with one occupied apartment and a vacant lower-level unit featuring a separate entrance and added storage.
Where is this duplex located?
The property is located at 5902 ADDISON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,224 square feet and 1925 construction; Renovated interior with central air throughout; Main‑level unit includes 3 bedrooms and 1 full bathroom
