Turnkey 7-Unit Multifamily
For Sale
$1,400,000
1234 N 30th Street, Philadelphia, PA 19121
Fully occupied 7-unit building with six 2-bedroom units and one 3-bedroom unit, legally configured for condominium operation.
Property Size5,631 SF
Price / SF$248.62
Days on Market265
Property Features for 1234 N 30th Street
General Information
Standard status
Active
Size
5,631 SF
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Additional Details
Multifamily Units
7
Amenities
backyard access
Building Details
Year Built
2014
Listing Agency:
EXP Realty,LLC
Listed By:
Guillermo Salas III · License #AB067011
(215) 310-6250
Source:
Deepcreeklake
Added: Dec 17, 2025
Changed: Sep 7
Last Checked: Sep 8 at 6:33AM
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 EXP Realty,LLC
Investment Insights
Based on property information with market context.
A fully occupied 7-unit multifamily property presented as condo-ready. The building includes six 2-bedroom/2-bath units and one 3-bedroom/2-bath unit, all currently leased and producing gross monthly rent. The property is operated as a traditional multifamily rental while remaining legally configured as a condominium building.
The asset is located at 1234 N 30th Street in Philadelphia. Public remarks note that several units include backyard access.
From a practical configuration standpoint, the unit mix provides repeatable layouts across the building while the condo setup can support multiple ownership approaches, including continuing operation as rentals or transitioning through condo sales over time. Immediate occupancy and leases in place provide stabilized income from day one.
The asset is located at 1234 N 30th Street in Philadelphia. Public remarks note that several units include backyard access.
From a practical configuration standpoint, the unit mix provides repeatable layouts across the building while the condo setup can support multiple ownership approaches, including continuing operation as rentals or transitioning through condo sales over time. Immediate occupancy and leases in place provide stabilized income from day one.
Key Highlights
- Fully occupied 7‑unit multifamily building (1234 N. 30th St.), leased with tenants in place
- Unit mix: six 2‑bed/2‑bath units plus one 3‑bed/2‑bath unit
- 2014 build year with $11,410 in gross monthly rent
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
1,123
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 7-unit building with six 2-bedroom units and one 3-bedroom unit, legally configured for condominium operation.
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: Fully occupied 7‑unit multifamily building (1234 N. 30th St.), leased with tenants in place; Unit mix: six 2‑bed/2‑bath units plus one 3‑bed/2‑bath unit; 2014 build year with $11,410 in gross monthly rent
