Renovated Residential Income
For Sale
Under Contract
$269,900
6508 WHEELER Street, Philadelphia, PA 19142
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,440 SF
Lot Size0.03 Acres
Price / SF$187.43
Days on Market109
Property Features for 6508 WHEELER Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Appliances
Dryer, Washer, Refrigerator, Oven/Range - Electric
Subdivision
ELMWOOD PARK
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active Under Contract
Size
1,440 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
1597
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1925
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Real Estate Tri-County · Keller Williams Realty
(215) 464-8800
Listed By:
Jay Sydorenko · License #RS369427
(267) 506-9339
Added: Apr 17
Changed: Jul 18
Last Checked: Aug 3 at 10:06PM
MLS# PAPH2609666
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.
Investment Insights
Based on property information with market context.
6508 Wheeler Street is a fully renovated 5-bedroom, 3-bath residential income property with a flexible multi-level layout. The main level features 2 bedrooms, 1 full bathroom, and an updated kitchen with gray shaker cabinetry, quartz countertops, and stainless steel appliances. The second level includes 2 additional bedrooms, 1 full bathroom, and a versatile living area with a kitchenette for adaptable living arrangements.
A finished basement provides approximately 480 square feet of additional space. It includes a full bathroom, a separate exterior entrance, and a bonus room with a window, which can support a home office, guest use, or extended living. Major upgrades completed in 2025 include new HVAC with central air, updated electrical and plumbing systems, new siding, new windows, and new flooring throughout.
Located in Southwest Philadelphia, the property is described as convenient to public transportation, shopping, and major roadways. This configuration may appeal to owner-occupants or investors looking for a renovated, move-in-ready home with multiple distinct living areas and a basement entry that can accommodate privacy and day-to-day convenience.
A finished basement provides approximately 480 square feet of additional space. It includes a full bathroom, a separate exterior entrance, and a bonus room with a window, which can support a home office, guest use, or extended living. Major upgrades completed in 2025 include new HVAC with central air, updated electrical and plumbing systems, new siding, new windows, and new flooring throughout.
Located in Southwest Philadelphia, the property is described as convenient to public transportation, shopping, and major roadways. This configuration may appeal to owner-occupants or investors looking for a renovated, move-in-ready home with multiple distinct living areas and a basement entry that can accommodate privacy and day-to-day convenience.
Key Highlights
- Fully renovated 5‑bedroom, 3‑bathroom home with major upgrades completed in 2025 including new HVAC, electrical, plumbing, siding, windows, and flooring.
- Flexible multi‑level layout ideal for extended living, including a second level with a kitchenette and a finished basement with a separate entrance and full bathroom.
- Updated kitchen with gray shaker cabinetry, quartz countertops, and stainless steel appliances.
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 | $37.2k | $25.80 |
| − Vacancy | −$2.0k | −$1.42 |
| EGI | $35.1k | $24.38 |
| − OpEx | −$10.5k | −$7.31 |
| NOI | $24.6k | $17.06 |
1,440 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$351.0K
$307.2K – $409.6K
NOI $24,573 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$323.6K
$283.1K – $377.5K
NOI $22,651 @ 7.0% cap · market cap 8.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,385
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 - Fully renovated 5-bedroom, 3-bath residence with a finished basement and separate exterior entrance.
Where is this duplex located?
The property is located at 6508 WHEELER Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Fully renovated 5‑bedroom, 3‑bathroom home with major upgrades completed in 2025 including new HVAC, electrical, plumbing, siding, windows, and flooring.; Flexible multi‑level layout ideal for extended living, including a second level with a kitchenette and a finished basement with a separate entrance and full bathroom.; Updated kitchen with gray shaker cabinetry, quartz countertops, and stainless steel appliances.
