Renovated Corner Mixed-Use
For Sale
$339,999
6037 Elmwood Avenue, Philadelphia, PA 19142
Corner commercial storefront with two renovated apartments, updated roof, electrical, HVAC, and water heaters.
Property Size2,048 SF
Price / SF$166.02
Days on Market315
Property Features for 6037 Elmwood Avenue
General Information
Standard status
Active
Size
2,048 SF
Property subtype
Multi-Family
Zoning
CMX2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,604
Amenities
Luxury Vinyl Plank
Natural Gas
Yes
Electric,Natural Gas
2
Estimated
Bathroom - Tub Shower,Combination Kitchen/Living,Entry Level Bedroom,Floor Plan - Open,Recessed Lighting,Store/Office,Upgraded Countertops,Other
No Pool
Public
Y30
0.03
No
On Street
22900.00
Building Details
Building Size
2,048 SF
Year Built
1920
Listing Agency:
Questor Realty, Inc.
(856) 222-0077
Listed By:
Gary Cook
Source:
Thetristaterealestategroup
Added: Oct 27, 2025
Changed: Sep 5
Last Checked: Sep 5 at 4:04AM
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 Questor Realty, Inc.
Investment Insights
Based on property information with market context.
Renovated corner mixed-use property featuring a first-floor commercial storefront plus two residential units accessible via a private side entrance. The commercial space offers an open-concept layout with high ceilings, recessed lighting, neutral paint, and luxury vinyl plank flooring, with a half bath for convenience. The apartments have been updated with modern kitchens featuring quartz countertops, sleek cabinetry, new fixtures, luxury vinyl plank flooring, and spa-inspired bathrooms. Unit 1 is a 1-bedroom, 1-bath with a private gated courtyard. Unit 2 is a 2-bedroom, 1-bath with new stair access and an open living layout.
The property is zoned CMX-2 and includes major system upgrades, including a new roof and joists, all new electrical wiring, HVAC system updates, and new water heaters. The first-floor unit is gas-heated, while the upper unit uses electric heat.
Located near SEPTA transit with proximity to major employment and retail activity, the property is suited for owner-occupants seeking storefront exposure alongside residential rental income.
The property is zoned CMX-2 and includes major system upgrades, including a new roof and joists, all new electrical wiring, HVAC system updates, and new water heaters. The first-floor unit is gas-heated, while the upper unit uses electric heat.
Located near SEPTA transit with proximity to major employment and retail activity, the property is suited for owner-occupants seeking storefront exposure alongside residential rental income.
Key Highlights
- Renovated corner mixed‑use property at 6037 Elmwood Avenue with a commercial storefront plus two residential apartments
- Commercial first‑floor open‑concept layout with high ceilings, recessed lighting, luxury vinyl plank flooring, and a half bath
- Two renovated units via private side entrance: Unit 1 (1 bed/1 bath) with private gated courtyard; Unit 2 (2 bed/1 bath) with new stair access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,147
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$462,940
$462.9K
Cap Rate 7%
$330,671
$330.7K
Cap Rate 9%
$257,189
$257.2K
Market Conditions
NOI Build-Up for 2,048 SF
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.
Gross rent
$36.9K $18.00/SF
− Vacancy
−$3.8K −$1.85/SF
EGI
$33.1K $16.15/SF
− OpEx
−$9.9K −$4.84/SF
NOI
$23.1K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$462,940
Cap Rate 7%
$330,671
Cap Rate 9%
$257,189
Alternative Uses
Best Use
Multifamily LT 5
$499.3K
$436.9K – $582.5K
NOI $34,949 @ 7.0% cap · market cap 10.28%
Second Best
Apartment 5plus
$460.2K
$402.7K – $536.9K
NOI $32,214 @ 7.0% cap · market cap 9.47%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 19142, PA
29,565
Population
12,943
Households
2.3
Avg Household Size
33
Median Age
13%
College-Educated
82%
High-School Grad
1.7 sq mi
ZIP Area
17,391
Density / Sq Mi
$42,812
Median Household Income
$32,763
Median Earnings
$1,269
Median Rent
$110,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Corner commercial storefront with two renovated apartments, updated roof, electrical, HVAC, and water heaters.
Where is this duplex located?
The property is located at 6037 Elmwood Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $339,999.
What are key features of this property?
This property features: Renovated corner mixed‑use property at 6037 Elmwood Avenue with a commercial storefront plus two residential apartments; Commercial first‑floor open‑concept layout with high ceilings, recessed lighting, luxury vinyl plank flooring, and a half bath; Two renovated units via private side entrance: Unit 1 (1 bed/1 bath) with private gated courtyard; Unit 2 (2 bed/1 bath) with new stair access
