Leased Eight-Unit
PHILADELPHIA, PA 19122 Philadelphia, PA 19122
Philadelphia, PA, 19122
$2,250,000
For Sale
$2,250,000
MULTI_FAMILY - PHILADELPHIA, PA
Property Size4,500 SF
Price / SF$500
Days on Market158
Property Features
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 4,500 SF
Building Details
- Year built
- 1915
Listing Agency
BHHS Fox & Roach At the Harper Rittenhouse Square
(215) 546-0550
PA
Listed by
Reid Rosenthal
(267) 626-7613
Added: Feb 10 Checked: Jul 18 at 4:06 am
MLS# PAPH2578206
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 eight-unit multiplex is offered for sale as a fully leased, income-producing property. The units have been recently updated, which may help reduce near-term capital expenditure. The property is described as well maintained, with modernization focused on the interior spaces.
The asset is located in Philadelphia, PA 19122. The offering materials note the property’s placement within the Norris Square neighborhood and an emphasis on continued neighborhood growth and revitalization.
With an eight-unit configuration and existing tenancy in place, the building provides a straightforward, turn-key style setup for an investor looking for immediate occupancy.
The asset is located in Philadelphia, PA 19122. The offering materials note the property’s placement within the Norris Square neighborhood and an emphasis on continued neighborhood growth and revitalization.
With an eight-unit configuration and existing tenancy in place, the building provides a straightforward, turn-key style setup for an investor looking for immediate occupancy.
Key Highlights
- 8‑unit multiplex in the Norris Square neighborhood of Philadelphia
- Fully leased property
- Year built: 1915
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 | $136.6k | $30.36 |
| − Vacancy | −$7.9k | −$1.76 |
| EGI | $128.7k | $28.60 |
| − OpEx | −$57.9k | −$12.87 |
| NOI | $70.8k | $15.73 |
4,500 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$884.8K – $1.18M
NOI $70,783 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.10M
$959.9K – $1.28M
NOI $76,792 @ 7.0% cap · market cap 3.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully leased eight-unit multiplex with recently updated units and a maintained property condition.
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 $2,250,000.
What are key features of this property?
This property features: 8‑unit multiplex in the Norris Square neighborhood of Philadelphia; Fully leased property; Year built: 1915
