Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1925
Sq.Footage
3,518
6-Unit Multi-Family with Coin Laundry Income | 12.7% Cap Rate Nicetown-Tioga | Philadelphia, PA 19140 Fully occupied, cash-flowing multi-family investment offered at $600,000 — a 12.7% capitalization rate on in-place income and $100,000 per unit. This 1925-built brick building offers approximately 3,518 SF on a 4,512 SF lot, currently producing $7,500/month ($90,000 annually). Unit Mix • One studio — $900/mo • Two 1-bedrooms — $1,400/mo each • One 1BR/1BA — $1,300/mo • Two 2-bedrooms — $1,300 and $1,200/mo • Coin-operated laundry on the first floor (additional income) In-Place Financials • Gross potential income: $91,800 • Operating expenses (T-12): $10,819 • Net operating income: $76,391 • 2025 real estate taxes: $4,152 • Gross rent multiplier: 6.7x Why This Building Major capital work is already done. New roof (2023), boiler serviced and maintained, and updated common-area lighting mean a buyer isn’t inheriting a systems problem. Remaining upside is cosmetic — flooring and paint across several units — plus room to modernize the laundry equipment for higher collections. Leases are primarily month-to-month, so a new owner has immediate flexibility to bring rents to market rather than waiting out a year of fixed terms. Operating costs stay low: tenants carry their own utilities where submetered, and ownership covers only water/sewer and common-area electric. ALSO AVAILABLE: THE ADJACENT BUILDING 1818 W Tioga St — 5 units — $600,000 The building next door is also on the market. Purchased together, the two properties form an 11-unit portfolio at $1,200,000 on a single contiguous lot: • $13,600/month — $163,200 annual gross rents, plus two laundry income streams • $137,227 combined net operating income • 11.4% cap rate — $109,091 per unit • One management footprint, one maintenance route, consolidated vendor relationships • Single transaction, single closing, single diligence process Buyers seeking scale can acquire both under one contract. Buyers seeking a single entry-point asset can take either building on its own. Full offering memorandum, rent roll, T-12 expenses, and lease files available upon request. Property tours by appointment.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
None, Electric
-
Heating YN
YES
-
Heating
Electric, Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Stone
-
Parking
On Street
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.1
-
Lot Size(square feet)
4,512
-
Property Type
Commercial Sale
Price
-
Sales Price
$600,000
-
Tax Amount
$4,482
-
Financing Options
Cash, Conventional, Other
-
Sq. Footage
3,518
-
Price/SqFt
$170
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
New Construction
NO
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
PHILADELPHIA
Elementary School
Middle School
High School
Listing Courtesy of Taison DeVore, Trinity Property Advisors
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Owner, President, Investment Property Advisor
Theresa Kehler
Call Theresa today to schedule a private showing.
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