637 N 2ND Street, Philadelphia, PA 19123
MULTI_FAMILY - Other - PHILADELPHIA, PA
- Added:
- Mar 10, 2026
- Days on Market:
- 97
- Last Refresh:
- Jun 14 at 12:06 am
Property Features for 637 N 2ND Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- On Street
- Standard status
- Active Under Contract
- Size
- 3,180 SF
- Lot size
- 0.02 Acres
Taxes and HOA fees
- Tax Annual Amount
- 7610
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1920
- Number of units
- 3
- Building materials
- Masonry
- Architectural style
- Other
Listing agent Lindsay Elizabeth Betz License #RS339088 (215) 840-1131
Listing office Quinn & Wilson, Inc. 1653 The Fairway unit: 200, Jenkintown, PA (215) 885-7600
Listing date Mar 10, 2026
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Mixed‑use corner property in Northern Liberties with retail on the first floor and apartments above
- First‑floor retail has oversized corner windows, tall ceilings, a basement level with storage/work space, and a powder room
- Updated 1‑bedroom apartment includes living room, kitchen, bedroom, and separate office; granite countertops, stainless steel appliances, cherry floors, and in‑unit laundry
- 2‑bedroom, two‑story apartment includes a renovated bathroom and a layout with added separation across two levels
- Construction is masonry; heating is forced air and cooling is central air
- Each unit is separately metered for electric and gas; parking available on street
Overview
The property is located at 637 N 2nd Street in Philadelphia, within Northern Liberties. The corner setting provides natural light from both front and side exposures and supports strong street presence for the first-floor storefront.
For investors, the building’s separate electric and gas metering for each unit is a practical benefit for managing utility responsibility across the retail and residential components. For owner-occupants, the configuration supports living above while maintaining a street-level commercial presence. The updated apartment interiors and the existing retail setup, including basement space and powder room, provide workable functionality for multiple tenant and occupancy scenarios.
Local 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 | $82.0k | $25.80 |
| − Vacancy | −$4.5k | −$1.42 |
| EGI | $77.5k | $24.38 |
| − OpEx | −$23.3k | −$7.31 |
| NOI | $54.3k | $17.06 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.14099
- Latitude
- 39.96175