PHILADELPHIA, PA 19120 Philadelphia, PA 19120
MULTI_FAMILY - PHILADELPHIA, PA
Property Features
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Standard status
- Active Under Contract
- Size
- 1,460 SF
Building Details
- Year built
- 1925
Listing agent Benjamin Wong License #RS323778 (215) 806-0988
Listing office BHHS Fox & Roach Blue Bell PA (215) 542-2200
Listing date Jun 6, 2026
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Investment Insights
Based on property information with market context.
The property is described as being situated along a major commercial corridor in the Olney/Oak Lane area of North Philadelphia, with the building located one block from 5th Street. The surrounding area is primarily residential housing, and the location provides easy access to Roosevelt Boulevard, Broad Street, and Cheltenham Avenue.
The property is being sold as-is. There is an option noted to have the second-floor tenant out by 60 days after going under contract.
Key Highlights
- 3‑unit mixed‑use property built in 1925 at 421 W Olney Ave, North Philadelphia
- First‑floor commercial space is vacant and includes direct access to the basement and a separate side entrance
- Second‑floor residential apartment is currently occupied and has a private side entrance (tenant may be removed within 60 days after going under contract)
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.8k | $15.60 |
| − Vacancy | −$2.7k | −$1.87 |
| EGI | $20.0k | $13.73 |
| − OpEx | −$7.5k | −$5.15 |
| NOI | $12.5k | $8.58 |