Condo-Configured 7-Unit Apartment
For Sale
$1,400,000
1234 N 30TH Street, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size5,631 SF
Price / SF$248.62
Days on Market230
Property Features for 1234 N 30TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
5,631 SF
Taxes and HOA fees
Tax Annual Amount
20271
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
backyard access
Building Details
Year built
2014
Number of units
4
Architectural style
Contemporary
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Guillermo Salas III · License #AB067011
(484) 429-6025
Added: Jan 20
Changed: Aug 19
Last Checked: Sep 7 at 8:06AM
MLS# PAPH2573514
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2014, this contemporary 5,631-square-foot apartment building contains seven residential units: six with two bedrooms and two bathrooms, plus one with three bedrooms and two bathrooms. The property is fully occupied, and each residence is part of a legally configured condominium structure. Building systems include forced-air heating and central air conditioning, with on-street parking available.
The property is located at 1234 N 30th Street in Philadelphia’s Brewerytown area, near Center City, major universities, public transportation, and the neighborhood’s retail and dining offerings. Several units include backyard access. The existing condominium format provides flexibility to maintain the building as a multifamily rental property or consider individual unit sales over time, subject to applicable requirements.
The property is located at 1234 N 30th Street in Philadelphia’s Brewerytown area, near Center City, major universities, public transportation, and the neighborhood’s retail and dining offerings. Several units include backyard access. The existing condominium format provides flexibility to maintain the building as a multifamily rental property or consider individual unit sales over time, subject to applicable requirements.
Key Highlights
- 7‑unit apartment building with six 2‑bedroom/2‑bath units and one 3‑bedroom/2‑bath unit
- 5,631 SF contemporary building constructed in 2014
- Legally configured as a condominium building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$88,573
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,771,460
$1.8M
Cap Rate 7%
$1,265,329
$1.3M
Cap Rate 9%
$984,144
$984.1K
Market Conditions
NOI Build-Up for 5,631 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$171.0K $30.36/SF
− Vacancy
−$9.9K −$1.76/SF
EGI
$161.0K $28.60/SF
− OpEx
−$72.5K −$12.87/SF
NOI
$88.6K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,771,460
Cap Rate 7%
$1,265,329
Cap Rate 9%
$984,144
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $88,573 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.37M
$1.20M – $1.60M
NOI $96,092 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,356
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied apartment property with condominium configuration, contemporary design, and central air conditioning.
Where is this apartment building located?
The property is located at 1234 N 30TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 7‑unit apartment building with six 2‑bedroom/2‑bath units and one 3‑bedroom/2‑bath unit; 5,631 SF contemporary building constructed in 2014; Legally configured as a condominium building
