Six-Unit Apartment Building with Roof
For Sale
$2,350,000
922-26 N 17th Street, Philadelphia, PA 19130
2017-built six-unit corner property with private balconies and a shared roof deck for tenant outdoor space.
Property Size9,504 SF
Lot Size0.07 Acres
Price / SF$247.26
Days on Market423
Property Features for 922-26 N 17th Street
General Information
Standard status
Active
Size
9,504 SF
Lot size
0.07 Acres
Property subtype
Multi-family
Lease Term
[]
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 4BR/3BA (bi-level, one with den), 2 x 2BR/2.5BA, 2 x 3BR/3.5BA
Multifamily Units
6
Amenities
roof deck
private balcony
Building Details
Year Built
2017
Buildings
1
Listing Agency:
KW Empower
Listed By:
Michael R. McCann · License #AB049770L
(215) 607-6007
Source:
Deepcreeklake
Added: Jul 19, 2025
Changed: Sep 13
Last Checked: Sep 14 at 7:30AM
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 KW Empower
Investment Insights
Based on property information with market context.
Modern six-unit multifamily building built in 2017, offering a mix of spacious layouts and tenant outdoor space. The property totals approximately 9,504 SF and sits on a 3,005 SF corner lot with 45 feet of frontage on 17th Street and 65 feet on W Harper Street, helping drive excellent natural light through oversized windows.
The unit mix includes (2) bi-level 4-bed, 3-bath units (one with an additional den), (2) 2-bed, 2.5-bath units, and (2) 3-bed, 3.5-bath units. Each unit features a private balcony. A shared 3,000+ SF roof deck tops the building and includes 360-degree skyline views.
A full 10-year tax abatement is in place and expires in 2027. The location is one block south of the Girard Avenue corridor, with proximity to the Broad Street Line, Temple University, and Center City.
The unit mix includes (2) bi-level 4-bed, 3-bath units (one with an additional den), (2) 2-bed, 2.5-bath units, and (2) 3-bed, 3.5-bath units. Each unit features a private balcony. A shared 3,000+ SF roof deck tops the building and includes 360-degree skyline views.
A full 10-year tax abatement is in place and expires in 2027. The location is one block south of the Girard Avenue corridor, with proximity to the Broad Street Line, Temple University, and Center City.
Key Highlights
- Built in 2017 six‑unit apartment building totaling approximately 9,504 SF
- 3,005 SF corner lot with 45 feet frontage on 17th Street and 65 feet on W Harper Street
- Private balconies across all units plus a shared 3,000+ SF roof deck
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
$149,493
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
6.36%
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%
$2,989,860
$3.0M
Cap Rate 7%
$2,135,614
$2.1M
Cap Rate 9%
$1,661,033
$1.7M
Market Conditions
NOI Build-Up for 9,504 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
$288.5K $30.36/SF
− Vacancy
−$16.7K −$1.76/SF
EGI
$271.8K $28.60/SF
− OpEx
−$122.3K −$12.87/SF
NOI
$149.5K $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%
$2,989,860
Cap Rate 7%
$2,135,614
Cap Rate 9%
$1,661,033
Alternative Uses
Best Use
Apartment 5plus
$2.14M
$1.87M – $2.49M
NOI $149,493 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.32M
$2.03M – $2.70M
NOI $162,185 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,584
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
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 - 2017-built six-unit corner property with private balconies and a shared roof deck for tenant outdoor space.
Where is this apartment building located?
The property is located at 922-26 N 17th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Built in 2017 six‑unit apartment building totaling approximately 9,504 SF; 3,005 SF corner lot with 45 feet frontage on 17th Street and 65 feet on W Harper Street; Private balconies across all units plus a shared 3,000+ SF roof deck
