Two-Unit Residential Income
599 Adams Avenue Philadelphia, PA 19120
For Sale
$260,000
Pending
Two 2-bedroom, 1-bath units with separate entries, one occupied and one newly renovated and vacant.
Property Size2,176 SF
Days on Market39
Property Features for 599 Adams Avenue
General Information
- Standard status
- Pending
- Size
- 2,176 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1955
Listing Agency:
Keller Williams Real Estate - Newtown
(215) 588-8086
Listed By:
Alysha Brand · License #RS343769
(215) 588-8086
Source:
Compass
Added: Jun 17
Changed: Jul 22
Last Checked: Jul 24 at 3:25PM
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
Investment Insights
Based on property information with market context.
This two-unit residential income property includes an upstairs and a downstairs 2-bedroom, 1-bath unit. The first-floor unit has direct access to a back room that houses utilities shared by both units, along with the first-floor washer. It also provides direct access to the back yard, with a spacious living/dining area off the full kitchen, and includes a front patio and fenced outdoor space. The second-floor unit has its own side entrance and was most recently renovated, with new floors, appliances, light fixtures, and a new kitchen and bathroom, along with washer/dryer hook-ups.
The property is located in Philadelphia County near public transportation and major roadways. The first-floor unit is currently occupied, and the upstairs unit is vacant and ready for a new resident.
The property is located in Philadelphia County near public transportation and major roadways. The first-floor unit is currently occupied, and the upstairs unit is vacant and ready for a new resident.
Key Highlights
- Two 2‑bedroom, 1‑bath units in one property (upstairs and downstairs)
- Second‑floor unit has its own side entrance; separate‑entry setup per unit
- First‑floor unit is occupied; tenants are happy to stay
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.3k | $16.68 |
| − Vacancy | −$2.6k | −$1.20 |
| EGI | $33.7k | $15.48 |
| − OpEx | −$10.1k | −$4.64 |
| NOI | $23.6k | $10.83 |
2,176 SF · lease $16.68/SF/yr · vacancy 7.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$336.8K
$294.7K – $392.9K
NOI $23,573 @ 7.0% cap · market cap 9.07%
Second Best
Apartment 5plus
$299.5K
$262.1K – $349.5K
NOI $20,967 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$519.8K
$454.8K – $606.4K
NOI $36,386 @ 7.0% cap · market cap 13.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two 2-bedroom, 1-bath units with separate entries, one occupied and one newly renovated and vacant.
Where is this duplex located?
The property is located at 599 Adams Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units in one property (upstairs and downstairs); Second‑floor unit has its own side entrance; separate‑entry setup per unit; First‑floor unit is occupied; tenants are happy to stay
