Mixed-Use Property with Leased
6940 6940-2 Torresdale Ave Philadelphia, PA 19135
New
6940 6940-2 Torresdale Ave, Philadelphia, PA, 19135
$980,000
For Sale
$980,000
Two fully renovated buildings include four apartments and two leased ground-floor commercial spaces.
Property Size2,264 SF
Price / SF$432.86
Days on Market3
Property Features for 6940 6940-2 Torresdale Ave
General Information
- Standard status
- Active
- Size
- 2,264 SF
Building Details
- Year Built
- 1935
Listing agency
REDBLOCK Realty Inc.
(215) 778-2517
Listed by
Adam Rocco · License #RS336988
Source
Kandorre
Added: Jul 20 Updated: Jul 21 at 11:18AM Checked: Jul 21 at 11:18AM
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.
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
Local Financial Insights For Apartment 5plus
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 | $68.7k | $30.36 |
| − Vacancy | −$4.0k | −$1.76 |
| EGI | $64.7k | $28.60 |
| − OpEx | −$29.1k | −$12.87 |
| NOI | $35.6k | $15.73 |
2,264 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Coffee shops
Similar For Sale Nearby
FAQs
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
