Contemporary Apartment
For Sale
$1,200,000
920 N 15TH STREET, Philadelphia, PA 19130
Recently built multifamily property with central air, gas utilities, and an open-plan interior with modern kitchen features.
Property Size5,000 SF
Price / SF$240
Days on Market55
Property Features for 920 N 15TH STREET
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Residential Income
Zoning
RM1
Taxes and HOA fees
Annual Taxes
$3,639
Amenities
Central Air, Ceiling Fan(s), Gas
Natural Gas, Central
Oven, Cooktop, Gas Water Heater, Dishwasher, Disposal, Dryer, Indoor Grill, Refrigerator, Washer, Water Heater, Microwave, ENERGY STAR Qualified Refrigerator
Ceiling Fan(s), Kitchen Island, Recessed Lighting, Open Floorplan
On Street
Contemporary
Building Details
Building Size
5,000 SF
Year Built
2022
Listed By:
Bob Kiziroglou
(267) 353-4123
Source:
Evrealestate
Added: Jul 29
Changed: Sep 21
Last Checked: Sep 21 at 4:34AM
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 Bob Kiziroglou
Investment Insights
Based on property information with market context.
This contemporary apartment building contains 5,000 square feet and was constructed in 2022. The property includes central air, ceiling fans, gas service, and a kitchen with an island, recessed lighting, and an open floorplan. Appliance features include a gas cooktop, oven, dishwasher, disposal, microwave, refrigerator, washer, dryer, and gas water heater, with an ENERGY STAR Qualified Refrigerator also included.
The property is located at 920 N 15th Street in Philadelphia, Pennsylvania 19130, near Girard Avenue and Cambridge Street. RM1 zoning is identified for the property, and exterior parking is provided on the street.
The property is located at 920 N 15th Street in Philadelphia, Pennsylvania 19130, near Girard Avenue and Cambridge Street. RM1 zoning is identified for the property, and exterior parking is provided on the street.
Key Highlights
- 5,000‑square‑foot apartment building constructed in 2022
- RM1 zoning in Philadelphia
- Central air, ceiling fans, and gas service
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
6.55%
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 6.55%
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 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,649
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Recently built multifamily property with central air, gas utilities, and an open-plan interior with modern kitchen features.
Where is this apartment building located?
The property is located at 920 N 15TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5,000‑square‑foot apartment building constructed in 2022; RM1 zoning in Philadelphia; Central air, ceiling fans, and gas service
