11-Unit Apartment
For Sale
Contact for pricing
121 W Cumberland St, Philadelphia, PA 19133
Newly built RM1 multifamily property with a mix of two- and three-bedroom apartments.
Property Size4,968 SF
Price / SF$462.96
Days on Market138
Property Features for 121 W Cumberland St
General Information
Standard status
Active
Size
4,968 SF
Property subtype
Multifamily
Zoning
RM1
Occupancy
95%
Investment Type
Stabilized
Net Operating Income
$167,619
Building Details
Year Built
2021
Buildings
1
Stories
3
Units
11
Listing Agency:
Trophy Commercial Real Estate
Listed By:
Saam Tashayyod · License #PA RM425803
(215) 608-5745
Source:
Crexi
Added: Apr 20
Changed: Sep 2
Last Checked: Sep 4 at 5:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Trophy Commercial Real Estate
Investment Insights
Based on property information with market context.
This 11-unit apartment building contains nine two-bedroom residences and two three-bedroom residences, providing approximately 9,372 rentable square feet. Completed in 2021, the property is classified RM1 and offers a straightforward multifamily configuration with a range of apartment sizes.
Located at 121 W Cumberland St in Philadelphia’s Hartranft neighborhood, the building places a multifamily asset within a residential area described as undergoing revitalization. The unit mix supports both two-bedroom and three-bedroom occupancy formats, with the larger apartments adding flexibility for households requiring additional bedrooms.
Located at 121 W Cumberland St in Philadelphia’s Hartranft neighborhood, the building places a multifamily asset within a residential area described as undergoing revitalization. The unit mix supports both two-bedroom and three-bedroom occupancy formats, with the larger apartments adding flexibility for households requiring additional bedrooms.
Key Highlights
- 11 apartments with nine two‑bedroom units and two three‑bedroom units
- Approximately 9,372 rentable square feet
- Built in 2021
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
$78,144
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
3.40%
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%
$1,562,880
$1.6M
Cap Rate 7%
$1,116,343
$1.1M
Cap Rate 9%
$868,267
$868.3K
Market Conditions
NOI Build-Up for 4,968 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
$150.8K $30.36/SF
− Vacancy
−$8.7K −$1.76/SF
EGI
$142.1K $28.60/SF
− OpEx
−$63.9K −$12.87/SF
NOI
$78.1K $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%
$1,562,880
Cap Rate 7%
$1,116,343
Cap Rate 9%
$868,267
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$976.8K – $1.30M
NOI $78,144 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,778 @ 7.0% cap · market cap 3.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,554
Businesses Nearby
Explore this area
Business Placement
Demographics for 19133, PA
24,772
Population
10,766
Households
2.3
Avg Household Size
34
Median Age
7%
College-Educated
63%
High-School Grad
1.3 sq mi
ZIP Area
19,055
Density / Sq Mi
$31,756
Median Household Income
$26,563
Median Earnings
$919
Median Rent
$85,100
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 - Newly built RM1 multifamily property with a mix of two- and three-bedroom apartments.
Where is this apartment building located?
The property is located at 121 W Cumberland St Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 11 apartments with nine two‑bedroom units and two three‑bedroom units; Approximately 9,372 rentable square feet; Built in 2021
