5-Unit Apartment
New
For Sale
$475,000
1729 W ERIE AVENUE, Philadelphia, PA 19140
Well-located 5-unit multifamily with four 1-bed/1-bath units plus one studio and a 1930 build date.
Days on Market3
Property Features for 1729 W ERIE AVENUE
General Information
Standard status
Active
Property subtype
Five Or More Units
Units
Unit Mix
4 x 1BR/1BA, 1 x studio
Multifamily Units
5
Additional Details
Public Transit
Yes
Building Details
Building Size
2,456 SF
Year Built
1930
Listing Agency:
OCF Realty LLC - Philadelphia
(856) 347-0434
Listed By:
Kevin M McGettigan · License #RS326539
(856) 347-0434
Source:
Patmckennarealtors
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 5:33PM
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 OCF Realty LLC - Philadelphia
Investment Insights
Based on property information with market context.
This 5-unit multifamily property offers practical unit layouts, including four 1-bedroom, 1-bath apartments and one studio unit. The building is positioned for long-term ownership, with straightforward systems intended to support stable, day-to-day operations.
The property is located in North Philadelphia’s West Allegheny neighborhood, near Broad Street transit and close to Temple University/Health System. It also benefits from access to neighborhood retail and major bus routes, which can support consistent demand.
Financials and a rent roll are available upon request. The property is also available as part of a three-property, 14-unit package that includes 3521 N 21st St and 2122 W Estaugh St, or it can be purchased individually.
The property is located in North Philadelphia’s West Allegheny neighborhood, near Broad Street transit and close to Temple University/Health System. It also benefits from access to neighborhood retail and major bus routes, which can support consistent demand.
Financials and a rent roll are available upon request. The property is also available as part of a three-property, 14-unit package that includes 3521 N 21st St and 2122 W Estaugh St, or it can be purchased individually.
Key Highlights
- Five units total: four 1‑bedroom, 1‑bath apartments and one studio
- Year built: 1930
- Near Broad Street transit
Financial Insights For Apartment 5plus
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 | $74.6k | $30.36 |
| − Vacancy | −$4.3k | −$1.76 |
| EGI | $70.2k | $28.60 |
| − OpEx | −$31.6k | −$12.87 |
| NOI | $38.6k | $15.73 |
2,456 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$551.9K
$482.9K – $643.9K
NOI $38,632 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$598.7K
$523.9K – $698.5K
NOI $41,911 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
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 - Well-located 5-unit multifamily with four 1-bed/1-bath units plus one studio and a 1930 build date.
Where is this apartment building located?
The property is located at 1729 W ERIE AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Five units total: four 1‑bedroom, 1‑bath apartments and one studio; Year built: 1930; Near Broad Street transit
