9-Unit Apartment Building with Rooftop
For Sale
$3,650,000
1424 Germantown Ave, Philadelphia, PA 19122
Fully leased 2022 multifamily property with two-bedroom residences, modern interiors, central HVAC, and two income-producing parking spaces.
Property Size9,561 SF
Price / SF$381.76
Days on Market81
Property Features for 1424 Germantown Ave
General Information
Standard status
Active
Size
9,561 SF
Property subtype
Multi-Family
Building Details
Year Built
2022
Listing Agency:
Compass RE
Listed By:
Reda B Akbil · License #RS337002
(267) 205-1369
Source:
Searchhomesinbuckscounty
Added: Aug 1
Changed: Oct 16
Last Checked: Oct 19 at 7:10AM
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 Compass RE
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Investment Insights
Based on property information with market context.
Completed in 2022, this nine-unit apartment property offers eight two-bedroom, two-bath residences and one two-bedroom, 2.5-bath home. Most apartments measure approximately 886 square feet, while Unit 3 provides approximately 1,368 square feet in a multi-level configuration. Units 8 and 9 include private rooftop decks. Interior features include oversized windows, contemporary kitchens, stainless steel appliances, modern cabinetry, natural-toned flooring, in-unit laundry, and central HVAC. Two parking spaces provide additional income-producing capacity.
The building is fully leased and benefits from approximately seven years remaining on Philadelphia’s full tax abatement. Its Germantown Avenue address places the property near restaurants, cafés, nightlife, retail, and neighborhood amenities associated with Fishtown, Olde Kensington, and Northern Liberties. The location also offers access to Center City, public transportation, and Philadelphia employment and entertainment districts.
The building is fully leased and benefits from approximately seven years remaining on Philadelphia’s full tax abatement. Its Germantown Avenue address places the property near restaurants, cafés, nightlife, retail, and neighborhood amenities associated with Fishtown, Olde Kensington, and Northern Liberties. The location also offers access to Center City, public transportation, and Philadelphia employment and entertainment districts.
Key Highlights
- 9‑unit multifamily property completed in 2022
- Eight 2‑bedroom, 2‑bath residences plus one 2‑bedroom, 2.5‑bath residence
- Most units are approximately 886 square feet; Unit 3 is approximately 1,368 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$150,390
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,007,800
$3.0M
Cap Rate 7%
$2,148,429
$2.1M
Cap Rate 9%
$1,671,000
$1.7M
Market Conditions
NOI Build-Up for 9,561 SF
Gross rent
$290.3K $30.36/SF
− Vacancy
−$16.8K −$1.76/SF
EGI
$273.4K $28.60/SF
− OpEx
−$123.0K −$12.87/SF
NOI
$150.4K $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 Rate 5%
$3,007,800
Cap Rate 7%
$2,148,429
Cap Rate 9%
$1,671,000
Alternative Uses
Best Use
Apartment 5plus
$2.15M
$1.88M – $2.51M
NOI $150,390 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.33M
$2.04M – $2.72M
NOI $163,157 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
3,090
Businesses Nearby
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Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased 2022 multifamily property with two-bedroom residences, modern interiors, central HVAC, and two income-producing parking spaces.
Where is this apartment building located?
The property is located at 1424 Germantown Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 9‑unit multifamily property completed in 2022; Eight 2‑bedroom, 2‑bath residences plus one 2‑bedroom, 2.5‑bath residence; Most units are approximately 886 square feet; Unit 3 is approximately 1,368 square feet
