Renovated Two-Unit
For Sale
$510,000
4702 Cedar Ave, Philadelphia, PA 19143
Fully occupied property contains two three-bedroom apartments and a full basement.
Property Size2,728 SF
Price / SF$186.95
Days on Market42
Property Features for 4702 Cedar Ave
General Information
Standard status
Active
Size
2,728 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
5
Building Details
Year Built
1925
Buildings
2
Listing Agency:
New Age Realty Group Inc
(215) 387-1002
Listed By:
Nicole Caprario · License #RS320794
Source:
Upgradebymichaud
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 5:46AM
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 New Age Realty Group Inc
Investment Insights
Based on property information with market context.
Located at 4702 Cedar Ave, this 1925-built residential duplex contains two three-bedroom apartments and a full basement. The units have undergone recent renovations and other upgrades, while the property is currently 100% occupied. A shared entrance connects the building with 4700 Cedar, and the two properties are required to be purchased together, creating a combined five-unit residential offering.
The property is situated in West Philadelphia near the University of Pennsylvania, Drexel University, Clark Park, Cedar Park, and the Baltimore Avenue commercial corridor. Restaurants, cafes, shops, and neighborhood amenities line the surrounding area. The duplex provides a defined two-unit configuration within a broader multifamily acquisition, with renovated apartment interiors, basement space, and existing occupancy.
The property is situated in West Philadelphia near the University of Pennsylvania, Drexel University, Clark Park, Cedar Park, and the Baltimore Avenue commercial corridor. Restaurants, cafes, shops, and neighborhood amenities line the surrounding area. The duplex provides a defined two-unit configuration within a broader multifamily acquisition, with renovated apartment interiors, basement space, and existing occupancy.
Key Highlights
- Two three‑bedroom apartments within a single duplex
- 100% occupied residential property
- Full basement included
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
$29,552
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
5.79%
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%
$591,040
$591.0K
Cap Rate 7%
$422,171
$422.2K
Cap Rate 9%
$328,356
$328.4K
Market Conditions
NOI Build-Up for 2,728 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
$45.5K $16.68/SF
− Vacancy
−$3.3K −$1.20/SF
EGI
$42.2K $15.48/SF
− OpEx
−$12.7K −$4.64/SF
NOI
$29.6K $10.83/SF
Area
ZIP 19143
Vacancy
7.22%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
30.00%
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%
$591,040
Cap Rate 7%
$422,171
Cap Rate 9%
$328,356
Alternative Uses
Best Use
Multifamily LT 5
$422.2K
$369.4K – $492.5K
NOI $29,552 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$375.5K
$328.6K – $438.1K
NOI $26,286 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$935.0K
$818.1K – $1.09M
NOI $65,451 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
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?
Duplex - Fully occupied property contains two three-bedroom apartments and a full basement.
Where is this duplex located?
The property is located at 4702 Cedar Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Two three‑bedroom apartments within a single duplex; 100% occupied residential property; Full basement included
