PHILADELPHIA, PA 19123 Philadelphia, PA 19123
MULTI_FAMILY - PHILADELPHIA, PA
Property Features
General Information
- Property type
- Residential Multi Family
- Property subtype
- Townhouse
- Standard status
- Active
- Size
- 3,150 SF
Building Details
- Year built
- 1920
Listing agent Benjamin Wong License #RS323778 (215) 806-0988
Listing office BHHS Fox & Roach Blue Bell PA (215) 542-2200
Listing date Apr 24, 2026
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Investment Insights
Based on property information with market context.
The second and third floor rear units are both well maintained one-bedroom apartments. The front unit spans the second and third floors and includes a two-bedroom, two full-bathroom layout. Entry is on the second level with a kitchen, dining area, and living room, plus a private balcony. The third level features a large bedroom, a full bathroom, a walk-in closet, and in-unit washer and dryer, along with an additional bedroom on the top floor.
The property has been owned by the same family for nearly 100 years and has been maintained over time, including the recent installation of a brand new PVC sewer line. Located in Northern Liberties with convenient access to Center City and major transportation routes, the area offers nearby restaurants, cafes, shops, and nightlife.
Key Highlights
- Four‑unit property at 402 Fairmount Avenue in Philadelphia (built in 1920)
- Three of four units are currently rented, and one unit is intentionally left vacant
- First‑floor space has a layout that could support a private residence, studio, or business/retail use (subject to City verification)
Local Financial Insights For Multifamily LT 5
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 | $81.3k | $25.80 |
| − Vacancy | −$4.5k | −$1.42 |
| EGI | $76.8k | $24.38 |
| − OpEx | −$23.0k | −$7.31 |
| NOI | $53.8k | $17.06 |
