$570,000

Property Description

This well-maintained and fully occupied approved three-unit multifamily property offers immediate in-place income and an attractive opportunity for investors. The property features a desirable unit mix consisting of one 1-bedroom/1-bath apartment and two 2-bedroom/1-bath apartments. Current rents are $1,325 per month for the 1-bedroom unit and $1,575 and $1,750 per month for the two 2-bedroom units, generating $4,650 in monthly rental income and $55,800 in annual gross income. See available income and expenses in documents. The property has been well maintained, with recent kitchen and bathroom upgrades providing modern finishes while retaining the character of the building. Units offer bright living spaces, hardwood flooring and updated kitchens and baths. The attractive stone and brick exterior further distinguishes the property. Utilities are separately metered and paid by the tenants, with the landlord responsible for water, helping to keep owner operating expenses low. Offered at $600,000, the property generates approximately $41,670 in NOI, representing a 6.95% capitalization rate based upon current operations. With established tenancy, recent interior improvements and approximately a 7% in-place cap rate, 2 E McPherson Street presents an attractive opportunity to acquire a stabilized, income-producing multifamily property with immediate cash flow.

Property Facts & Features

Property Type

Multi Family

Status

Active

Listed

Aug 18, 2026

Price per Sq Ft

$285/sqft

ZIP Code

19119

Parking

On Street

Heating

Hot Water

Construction

Masonry

Style

AirLite

Property Tax (2026)

$7,470/yr

Assessed Value

$533,700

Last Sold

$430,000 · Apr 20, 2022

Neighborhood

East Mount Airy

County

Philadelphia

School District

The School District of Philadelphia

Estimated Value

Automated estimate. Not an appraisal.

Features & Amenities

Location

Lat 40.06431 · Lng -75.19389