About 1816 W Tioga St
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.
