Renovated Duplex with Leased
New
For Sale
$269,999
6344 REEDLAND STREET, Philadelphia, PA 19142
Both apartments are leased and have updated kitchens and bathrooms.
Property Size1,086 SF
Price / SF$248.62
Days on Market3
Property Features for 6344 REEDLAND STREET
General Information
Standard status
Active
Size
1,086 SF
Property subtype
Residential Income
Zoning
RM1
Occupancy
100%
Site & Location
Neighborhood
Southwest Philadelphia
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,854
Amenities
Ceiling Fan(s), Electric
Electric, Baseboard
Unfinished
Cooktop, Electric Water Heater, Refrigerator, Microwave, Dishwasher
High Ceilings
On Street
Straight Thru
Building Details
Building Size
1,086 SF
Year Built
1920
Listing Agency:
KW Empower
Listed By:
Stephen M Kennedy · License #RS330775
(267) 614-3033
Source:
Evrealestate
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 1:07PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This legal duplex contains two apartments, each with two bedrooms and one bathroom, within 1,086 square feet. The units have updated kitchens and bathrooms, functional layouts, and spacious bedrooms with closet storage. Renovation work includes a new roof, windows, electrical and plumbing systems, and appliances. The building dates to 1920, and both apartments are currently leased.
At 6344 Reedland Street in Philadelphia, the property offers access to public transit, I-76, I-95, universities, hospitals, and Center City.
At 6344 Reedland Street in Philadelphia, the property offers access to public transit, I-76, I-95, universities, hospitals, and Center City.
Key Highlights
- Two leased apartments, each configured with 2 bedrooms and 1 bathroom
- 1,086 square feet in a legal duplex
- Renovation work includes a new roof, windows, electrical and plumbing systems, and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,532
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,640
$370.6K
Cap Rate 7%
$264,743
$264.7K
Cap Rate 9%
$205,911
$205.9K
Market Conditions
NOI Build-Up for 1,086 SF
Gross rent
$28.0K $25.80/SF
− Vacancy
−$1.5K −$1.42/SF
EGI
$26.5K $24.38/SF
− OpEx
−$7.9K −$7.31/SF
NOI
$18.5K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,640
Cap Rate 7%
$264,743
Cap Rate 9%
$205,911
Alternative Uses
Best Use
Multifamily LT 5
$264.7K
$231.7K – $308.9K
NOI $18,532 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$244.0K
$213.5K – $284.7K
NOI $17,082 @ 7.0% cap · market cap 6.33%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,230
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments are leased and have updated kitchens and bathrooms.
Where is this duplex located?
The property is located at 6344 REEDLAND STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $269,999.
What are key features of this property?
This property features: Two leased apartments, each configured with 2 bedrooms and 1 bathroom; 1,086 square feet in a legal duplex; Renovation work includes a new roof, windows, electrical and plumbing systems, and appliances
