Multifamily Property with Six
For Sale
$1,000,000
693300 Ditman Street, Philadelphia, PA 19135
Updated apartment property with separate utilities, shared outdoor space, and a lower-level unit configured for possible expansion.
Property Size5,000 SF
Price / SF$200
Days on Market134
Property Features for 693300 Ditman Street
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Lease Term
[]
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR, 5 x 1BR
Multifamily Units
6
Amenities
shared rear courtyard
above-ground pool
Building Details
Year Built
1900
Buildings
2
Construction
stone and brick
Tenancy
Multi
Listing Agency:
RE/MAX Access
Listed By:
Jillian F Gonzalez · License #RS300288
(215) 760-9505
Source:
Deepcreeklake
Added: May 11
Changed: Sep 20
Last Checked: Sep 21 at 6:52AM
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 RE/MAX Access
Investment Insights
Based on property information with market context.
This apartment property comprises two buildings totaling nearly 5,000 square feet, with five occupied apartments and a lower-level space configured as a potential sixth unit. The unit mix includes one three-bedroom apartment and four one-bedroom apartments, while the lower level has a private entrance, bedroom, bath, and living area. Separate utilities serve the units. Interior features include hardwood flooring in most apartments, tile in bathrooms and hallways, and generally updated layouts. One ranch-style apartment has a remodeled eat-in kitchen with granite counters and stainless steel appliances, an upgraded bath, and backyard access. The attached three-story building includes a renovated first-floor rear apartment with high ceilings, a new kitchen and bath, family room, and private front porch, along with three additional one-bedroom apartments. The third-floor unit has its own heating system and is the only apartment with central air.
Outdoor amenities include a shared rear courtyard, above-ground pool, and additional exterior space. The property is in Philadelphia’s Tacony section near shopping, public transportation, and major roadways. The pool liner is being replaced by the owner.
Outdoor amenities include a shared rear courtyard, above-ground pool, and additional exterior space. The property is in Philadelphia’s Tacony section near shopping, public transportation, and major roadways. The pool liner is being replaced by the owner.
Key Highlights
- Nearly 5,000 square feet across two buildings
- Five fully occupied units plus a lower‑level sixth‑unit configuration
- Unit mix includes one 3‑bedroom and four 1‑bedroom apartments
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
$78,648
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
7.86%
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%
$1,572,960
$1.6M
Cap Rate 7%
$1,123,543
$1.1M
Cap Rate 9%
$873,867
$873.9K
Market Conditions
NOI Build-Up for 5,000 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
$151.8K $30.36/SF
− Vacancy
−$8.8K −$1.76/SF
EGI
$143.0K $28.60/SF
− OpEx
−$64.3K −$12.87/SF
NOI
$78.6K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,572,960
Cap Rate 7%
$1,123,543
Cap Rate 9%
$873,867
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$983.1K – $1.31M
NOI $78,648 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,324 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Explore this area
Business Placement
Demographics for 19135, PA
35,422
Population
14,323
Households
2.5
Avg Household Size
34
Median Age
16%
College-Educated
82%
High-School Grad
2.3 sq mi
ZIP Area
15,401
Density / Sq Mi
$51,817
Median Household Income
$38,673
Median Earnings
$1,197
Median Rent
$182,900
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?
Apartment building - Updated apartment property with separate utilities, shared outdoor space, and a lower-level unit configured for possible expansion.
Where is this apartment building located?
The property is located at 693300 Ditman Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Nearly 5,000 square feet across two buildings; Five fully occupied units plus a lower‑level sixth‑unit configuration; Unit mix includes one 3‑bedroom and four 1‑bedroom apartments
