Mixed-Use Property with Leased
For Sale
$980,000
6940 6940-2 Torresdale Ave, Philadelphia, PA 19135
Two fully renovated buildings include four apartments and two leased ground-floor commercial spaces.
Property Size2,264 SF
Price / SF$432.86
Days on Market98
Property Features for 6940 6940-2 Torresdale Ave
General Information
Standard status
Active
Size
2,264 SF
Occupancy
100%
Site & Location
Neighborhood
Northeast Philadelphia
Highway Access
Yes
Units
Multifamily Units
4
Office Units
2
Additional Details
Cap Rate
9%
Building Details
Year Built
1935
Tenancy
Multi
Listing Agency:
REDBLOCK Realty Inc.
Listed By:
Adam Rocco · License #RS336988
(215) 778-2517
Source:
Kandorre
Added: Jul 20
Changed: Oct 4
Last Checked: Oct 7 at 3:46PM
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 REDBLOCK Realty Inc.
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Investment Insights
Based on property information with market context.
This for-sale mixed-use offering includes two fully renovated properties sold together, with matching layouts across the buildings. The upper level consists of four updated residential apartments, including two modern studio units and two two-bedroom, one-bath units. Apartment features noted include sleek laminate flooring, all-electric utilities, cable-ready connections, ceiling fans in the living room areas, and newly updated contemporary kitchens.
On the ground level, there are two fully renovated commercial spaces. The commercial tenants listed include a coffee shop and a redone showroom for a door distributor. Both properties are described as 100% leased, with gross annual rents of $100,000 and low annual expenses of $15,000, which includes taxes, insurance, and water. Tenants pay their own PECO bill, and there is no gas. The location is described as convenient to public transportation with easy access to I-95, in the Northeast–Tacony area, near Disston Park.
On the ground level, there are two fully renovated commercial spaces. The commercial tenants listed include a coffee shop and a redone showroom for a door distributor. Both properties are described as 100% leased, with gross annual rents of $100,000 and low annual expenses of $15,000, which includes taxes, insurance, and water. Tenants pay their own PECO bill, and there is no gas. The location is described as convenient to public transportation with easy access to I-95, in the Northeast–Tacony area, near Disston Park.
Key Highlights
- Two fully renovated properties sold together (6940‑2 Torresdale Ave), built in 1935
- Mix of 4 residential apartments: two modern studios and two 2‑bedroom, 1‑bath units
- Ground‑level includes 2 fully renovated commercial spaces with commercial tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,612
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$712,240
$712.2K
Cap Rate 7%
$508,743
$508.7K
Cap Rate 9%
$395,689
$395.7K
Market Conditions
NOI Build-Up for 2,264 SF
Gross rent
$68.7K $30.36/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$64.7K $28.60/SF
− OpEx
−$29.1K −$12.87/SF
NOI
$35.6K $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 Rate 5%
$712,240
Cap Rate 7%
$508,743
Cap Rate 9%
$395,689
Alternative Uses
Best Use
Apartment 5plus
$508.7K
$445.2K – $593.5K
NOI $35,612 @ 7.0% cap · market cap 3.63%
Second Best
Specialty Retail
$468.6K
$410.1K – $546.8K
NOI $32,805 @ 7.0% cap · market cap 3.35%
Theoretical Best
Multifamily LT 5
$551.9K
$482.9K – $643.9K
NOI $38,635 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Current Use
Lease Details
2
Office units
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,422
Businesses Nearby
66k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 34%
Groceries 14%
Dunkin' Donuts
Dining
15,388 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
12,604 visits/mo
0.4 miles
Sunoco
Shops & Services
12,241 visits/mo
0.4 miles
Save-A-Lot
Groceries
9,494 visits/mo
0.5 miles
PNC Bank
Shops & Services
5,421 visits/mo
0.5 miles
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Residential income property - Two fully renovated buildings include four apartments and two leased ground-floor commercial spaces.
Where is this residential income property located?
The property is located at 6940 6940-2 Torresdale Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Two fully renovated properties sold together (6940‑2 Torresdale Ave), built in 1935; Mix of 4 residential apartments: two modern studios and two 2‑bedroom, 1‑bath units; Ground‑level includes 2 fully renovated commercial spaces with commercial tenants
