Turnkey Multifamily Income
PHILADELPHIA, PA 19104 Philadelphia, PA 19104
Philadelphia, PA, 19104
$650,000
For Sale
$650,000
MULTI_FAMILY - PHILADELPHIA, PA
Property Size2,364 SF
Price / SF$274.96
Days on Market352
Property Features
General Information
- Property type
- Residential Multi Family
- Property subtype
- Townhouse
- Standard status
- Active
- Size
- 2,364 SF
Building Details
- Year built
- 1930
Listing Agency
BHHS Fox & Roach Center City-Society Hill
(215) 627-6005
PA
Listed by
Frank DeFazio
(610) 636-4364
Added: Jul 30, 2025 Checked: Jul 16 at 3:06 pm
MLS# PAPH2522082
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This income-producing multifamily property is offered as a turnkey investment and is fully leased. The building contains eight self-contained studio units, and each unit includes its own kitchenette and private bathroom. The layout is described as 2 rooms on the first floor, 3 rooms on the second floor, and 3 rooms on the third floor.
The seller reports the property is currently grossing $80,940 annually. Tenants pay separately for electric and internet, while the landlord is responsible for water and common area electric. The listing also notes the property is respectfully managed.
The property is located in Philadelphia (19104) near Powelton Village and is described as being within walking distance of Drexel University, the University of Pennsylvania, and local amenities, as well as SEPTA transit lines. Buyer is responsible for verifying all zoning, licensure, and usage requirements with the City of Philadelphia.
The seller reports the property is currently grossing $80,940 annually. Tenants pay separately for electric and internet, while the landlord is responsible for water and common area electric. The listing also notes the property is respectfully managed.
The property is located in Philadelphia (19104) near Powelton Village and is described as being within walking distance of Drexel University, the University of Pennsylvania, and local amenities, as well as SEPTA transit lines. Buyer is responsible for verifying all zoning, licensure, and usage requirements with the City of Philadelphia.
Key Highlights
- Income‑producing multifamily at 517 N. 35th Street built in 1930
- 8 self‑contained studios, each with its own kitchenette and private bathroom
- Unit layout: 2 rooms on the first floor, 3 on the second floor, and 3 on the third floor
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 | $71.8k | $30.36 |
| − Vacancy | −$4.2k | −$1.76 |
| EGI | $67.6k | $28.60 |
| − OpEx | −$30.4k | −$12.87 |
| NOI | $37.2k | $15.73 |
2,364 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$531.2K
$464.8K – $619.8K
NOI $37,185 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$576.3K
$504.3K – $672.4K
NOI $40,341 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Fully leased multifamily building with eight self-contained studio units and separate utility billing for tenants.
Where is this apartment building located?
The property is located at Philadelphia, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Income‑producing multifamily at 517 N. 35th Street built in 1930; 8 self‑contained studios, each with its own kitchenette and private bathroom; Unit layout: 2 rooms on the first floor, 3 on the second floor, and 3 on the third floor
