Quadplex with Newly Renovated
For Sale
$475,000
597 ADAMS AVENUE, Philadelphia, PA 19120
Four-unit quadplex with a newly renovated upstairs unit, separate side entrances, and direct access to back and fenced outdoor space.
Property Size1,524 SF
Price / SF$311.68
Days on Market98
Property Features for 597 ADAMS AVENUE
General Information
Standard status
Active
Size
1,524 SF
Property subtype
Quadruplex
Site & Location
Neighborhood
Lawndale
Building Details
Year Built
1955
Listing Agency:
Keller Williams Real Estate - Newtown
(215) 860-4200
Listed By:
Alysha Brand · License #RS343769
(215) 588-8086
Source:
Cummingsrealtors
Added: Jul 27
Changed: Oct 31
Last Checked: Oct 30 at 4:31PM
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 Real Estate - Newtown
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Investment Insights
Based on property information with market context.
This quadplex is configured as two units at 597 Adams Avenue and two units at 599 Adams Avenue, for a total of four residential units. At 597, there are two one-bedroom, one-bath units with an upstairs and downstairs layout. The first-floor unit has direct access to a back room that contains utilities serving both levels, plus direct access to the back yard. The second-floor unit has its own side entrance.
At 599, there are two two-bedroom, one-bath units, also arranged as upstairs and downstairs. The first-floor unit has direct access to a back room with utilities for both levels, direct access to the back yard, and a spacious living/dining area off the full kitchen, with a patio at the front of the house and fenced-in space. The second-floor unit has its own side entrance.
One upstairs unit has been renovated with brand new floors, newer HVAC and a hot water heater, washer/dryer hookups, updated lighting, and new kitchen and bathroom finishes. The property totals 1,524 SF and was built in 1955. Units are occupied, with close proximity to public transportation and major roadways.
At 599, there are two two-bedroom, one-bath units, also arranged as upstairs and downstairs. The first-floor unit has direct access to a back room with utilities for both levels, direct access to the back yard, and a spacious living/dining area off the full kitchen, with a patio at the front of the house and fenced-in space. The second-floor unit has its own side entrance.
One upstairs unit has been renovated with brand new floors, newer HVAC and a hot water heater, washer/dryer hookups, updated lighting, and new kitchen and bathroom finishes. The property totals 1,524 SF and was built in 1955. Units are occupied, with close proximity to public transportation and major roadways.
Key Highlights
- Four‑unit quadplex with two units at 597 Adams Ave and two units at 599 Adams Ave
- Two one‑bedroom, one‑bath units plus two two‑bedroom, one‑bath units
- 1,524 SF total with 1955 build year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,509
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$330,180
$330.2K
Cap Rate 7%
$235,843
$235.8K
Cap Rate 9%
$183,433
$183.4K
Market Conditions
NOI Build-Up for 1,524 SF
Gross rent
$25.4K $16.68/SF
− Vacancy
−$1.8K −$1.20/SF
EGI
$23.6K $15.48/SF
− OpEx
−$7.1K −$4.64/SF
NOI
$16.5K $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%
$330,180
Cap Rate 7%
$235,843
Cap Rate 9%
$183,433
Alternative Uses
Best Use
Multifamily LT 5
$235.8K
$206.4K – $275.2K
NOI $16,509 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$209.8K
$183.6K – $244.7K
NOI $14,684 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$364.1K
$318.6K – $424.7K
NOI $25,484 @ 7.0% cap · market cap 5.37%
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 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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit quadplex with a newly renovated upstairs unit, separate side entrances, and direct access to back and fenced outdoor space.
Where is this quadplex located?
The property is located at 597 ADAMS AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Four‑unit quadplex with two units at 597 Adams Ave and two units at 599 Adams Ave; Two one‑bedroom, one‑bath units plus two two‑bedroom, one‑bath units; 1,524 SF total with 1955 build year
