Listed by MPN Realty, Inc.
$595,000
1515 McKean Street
Details
Property Type Mixed Use
Sub Type Retail
Square Footage 1,878
Units 2
NOI $39,839
Occupancy 100%
Tenancy Multi
Year Built 1920
Year Renovated 2016
Buildings 1
Stories 2
Lot Size (SqFt) 1,028
Zoning CMX-2
Ground Lease No
For Sale: Two Unit Mixed-Use Property
Marketing description
MPN Realty, Inc. is proud to present the exclusive sale of 1515 McKean Street, a 1,878 SF mixed-use property located in South Philadelphia. This two-story building consists of one (1) ground floor retail space of approximately 1,200 SF and one (1) spacious 1-bedroom/1-bath residential unit with a private outdoor deck. The property is 100% leased — the ground floor is home to Forbidden Closet, an established vintage boutique — offering immediate income for an investor or an attractive live/work opportunity for an owner-occupant. Situated in one of South Philadelphia's most sought-after and rapidly growing neighborhoods, 1515 McKean Street represents a compelling addition to any portfolio.
Investment highlights
- Two-story mixed-use building with one ground floor retail space (~1,200 SF) and one 1-bed/1-bath residential unit
- 100% leased property offering immediate income
- Ground floor retail tenant: Forbidden Closet, an established vintage boutique
- Residential unit features private outdoor deck
- Attractive live/work opportunity for owner-occupant
- Located in Newbold, one of South Philadelphia's most sought-after and rapidly growing neighborhoods
- 1920 building renovated in 2016
- New 4 ML rubber roof installed December 2025 with 15-year warranty
- Stone and masonry foundation, brick exterior
- Central HVAC system
- Separately metered utilities (electric and gas) paid by tenants
- In-unit laundry
- Hard-wired smoke and fire system
- Classic Philadelphia rowhouse in walkable urban environment
Listing Contacts
Listed by MPN Realty, Inc.
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$39,839.00
$3,319.92/mo
Valuation Metrics
0
DSCR
6.7%
Cap Rate
6.7%
ROI
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