5900 MARKET ST Philadelphia, PA 19139
1,336 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision Haddington
MLS Listing ID PAPH2662628
Year Built 1915
Annual Tax Amount $3,042
Tax Year 2025
Lot Size 1,336 Sqft
Acres 0.03
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
The Property is currently 100% occupied. The residential component consists of two studios, two one-bedroom/one-bathroom units, and one two-bedroom/one-bathroom unit, generating $63,462 in current scheduled annual residential rent, $1,057 per unit average. The ground-floor commercial suite is leased to Manifest Network LLC through May 2031, which is approximately 4.8 years of remaining term, contributing an additional $11,748 in current annual rent or $979 per month.
A built-in mark-to-market opportunity exists across the residential unit mix. By meeting estimated market rents of $1,000 for the studios, $1,150 for the one-bedroom units, and $1,350 for the two-bedroom unit, an investor could increase residential rent to $67,800 annually or $1,130 per unit average — an increase of approximately 7% or $4,338 annually, achievable through normal lease turnover and renewals. Layering in a modest utility reimbursement program, estimated at $2,475 annually, and select operating efficiencies offers a further path to NOI growth beyond the underwritten stabilized projection.
5900 Market Street sits directly along SEPTA's Market-Frankford Line, within a short walk of the 60th Street Station, providing residents and the commercial tenant with direct rail access to Center City, University City, and Philadelphia's broader employment base. Multiple SEPTA bus routes along Market Street provide further connectivity throughout West Philadelphia and the greater metropolitan area
Location
State PA
County Philadelphia
Area 19139 (19139)
Zoning CMX3
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling Ceiling Fan(s)
Flooring Wood
Heat Source Electric
Exterior
Water Access N
View City, Street
Accessibility None
Garage N
Building
Lot Description Corner, Rear Yard
Foundation Stone
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 871048300
Ownership Fee Simple
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Financing Cash,Conventional,Other
Special Listing Condition Standard
