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Property profile & analytics
OFF-MARKET
Estimated value
$19,210,000
Apartment buildings
1701 2nd St Philadelphia, PA 19122-3103
Individually Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US73-2548274
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
61,581 SF
Lot
0.43 ac (18,650 SF)
Zoning code
ICMX
APN
88-1-0068-48
UPID
US73-2548274
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Western Union Bank Credit Union
-
Pransome Textile Manufacturer
-
Linsky's Pharmacy Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.90M
Comparable Approach
Comparable
$22.74M
Blend (final)
Blend
$19.21M
Owner & transaction history
Xin Fan · 8 yrs held
Xin Fan
since 2017
2 recorded transactions
Zoning & alternative use
ICMX · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$19.1M
+4.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Philadelphia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Philadelphia submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$16,145,000
6.5%
$14,900,000
7%
$13,840,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$18,330,000
Current use
RESTAURANT
$19,070,000
Change: +4% · Conversion: Difficult
OFFICE BUILDING
$15,665,000
Change: -15% · Conversion: Moderate
MEDICAL BUILDING
$15,120,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$19.21M
Range $17.29M – $21.13M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$312 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$230,214
Tax year 2023
Assessed value
$16,446,200
Assessed 2023
Previous assessed
$16,446,200
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$1,644,620
Assessed improvement
$14,801,580
Land market value
$1,644,620
Improvement market value
$14,801,580
Total market value
$16,446,200
Applied tax rate
18.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
CENTRAL
Stories
6
Total area
61,581 SF
Lot
0.43 ac (18,650 SF)
Zoning code
ICMX
APN
88-1-0068-48
UPID
US73-2548274
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
ICMX · Philadelphia, PA
Zoning ICMX · permitted uses
ICMX · Philadelphia, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Philadelphia. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$18.3M
RESTAURANT
Est. value
$19.1M
OFFICE BUILDING
Est. value
$15.7M
MEDICAL BUILDING
Est. value
$15.1M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
6
Lot
0.43 ac
Current owner
From public records · entity-resolved
Xin Fan
Individual
Mailing address
222 S MANOA RD, HAVERTOWN, PA 19083-3300
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2017
$800,000
Xin Fan
Ching K Wong
Grant Deed
$475,000 · Wilmington Savings Fund Society Fsb
Jan 23, 2004
—
Wong,ching K
Lorna Cheng
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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