Northern Liberties Four-Unit Property

PHILADELPHIA, PA 19123 Philadelphia, PA 19123

Claim this Listing
For Sale
$890,000

SINGLE_FAMILY - PHILADELPHIA, PA

Property size:
3,150 SF
Lot size:
0.03 Acres
Price / SF:
$282/SF
Added:
Apr 24, 2026
Days on Market:
78
Last Refresh:
Jul 10 at 9:06 pm

Property Features

General Information

Property type
Residential
Property subtype
Other
Standard status
Active
Size
3,150 SF
Lot size
0.03 Acres

Building Details

Year built
1920

Listing agent Benjamin Wong License #RS323778

Listing office BHHS Fox & Roach Blue Bell PA

Listing date Apr 24, 2026

MLS# PAPH2612606

Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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.

Located in the Northern Liberties neighborhood of Philadelphia, 402 Fairmount Avenue presents a four-unit property suitable for various uses. Three of the four units are currently rented, providing immediate rental income. One unit is intentionally vacant, offering flexibility for the new owner. The first floor has potential for a private residence, studio, or possible business or retail use, subject to buyer verification with the City of Philadelphia. Historically, the space was used as retail. A private courtyard is accessible through the common area. The second and third floor rear units are one-bedroom apartments with functional layouts. The front unit spans the second and third floors and features a two-bedroom, two-full-bathroom layout. The second level includes the kitchen, dining area, living room, and a private balcony. The third level includes a large bedroom, full bathroom, walk-in closet, and in-unit washer and dryer, with an additional bedroom located on the top floor. The property has been well-maintained. A new PVC sewer line has been installed. The location provides walking distance to restaurants, cafes, shops, and nightlife, with access to Center City and major transportation routes. The property offers flexibility, character, and income potential.

Key Highlights

  • Prime Northern Liberties location: Walkable to restaurants, cafes, shops, nightlife, Center City, and transportation.
  • Four‑unit property offering immediate rental income from three units, with one vacant unit for owner occupancy or tenant selection.
  • Versatile property suitable for owner‑occupants, house hacking, or investors.

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
3,150 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$767.9K
$671.9K – $895.9K (±1% cap)
NOI $53,754 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$707.8K
$619.4K – $825.8K (±1% cap)
NOI $49,548 @ 7.0% cap · market cap 5.57%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Location Intelligence

Current Use by Public Records

Quadplexes

FAQs

What type of property is this?
Quadplex - Four-unit property in desirable Northern Liberties neighborhood with income potential.
Where is this quadplex located?
The property is located at Philadelphia, PA.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Prime Northern Liberties location: Walkable to restaurants, cafes, shops, nightlife, Center City, and transportation.; Four‑unit property offering immediate rental income from three units, with one vacant unit for owner occupancy or tenant selection.; Versatile property suitable for owner‑occupants, house hacking, or investors.
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More about this property
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