5-Unit Multifamily
For Sale
$470,000
1729 W ERIE AVE, Philadelphia, PA 19140
Multifamily property with four one-bedroom apartments and one studio near transit, university, healthcare, and neighborhood retail.
Property Size2,456 SF
Price / SF$191.37
Days on Market50
Property Features for 1729 W ERIE AVE
General Information
Standard status
Active
Size
2,456 SF
Property subtype
Multi-family
Site & Location
Neighborhood
North Philadelphia
Public Transit
Yes
Units
Unit Mix
4 x 1BR/1BA, 1 x studio
Multifamily Units
5
Listing Agency:
OCF Realty LLC - Philadelphia
(215) 735-7368
Listed By:
Kevin M McGettigan · License #RS326539
(856) 347-0434
Source:
Graves
Added: Sep 6
Changed: Oct 8
Last Checked: Oct 24 at 5:30PM
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
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Investment Insights
Based on property information with market context.
Built in 1930, this 2,456-square-foot multifamily property contains five residential units: four one-bedroom, one-bath apartments and one studio. The unit mix provides a combination of traditional apartment layouts and a smaller-format residence within the same building.
The property is located at 1729 W Erie Ave in Philadelphia’s West Allegheny neighborhood, with access to Broad Street transit, major bus routes, neighborhood retail, and Temple University/Health System. The building is offered individually and may also be acquired as part of a three-property, 14-unit package that includes 3521 N 21st St and 2122 W Estaugh St.
The property is located at 1729 W Erie Ave in Philadelphia’s West Allegheny neighborhood, with access to Broad Street transit, major bus routes, neighborhood retail, and Temple University/Health System. The building is offered individually and may also be acquired as part of a three-property, 14-unit package that includes 3521 N 21st St and 2122 W Estaugh St.
Key Highlights
- Five‑unit multifamily building
- 2,456 square feet on a 0.00‑acre property
- Unit mix includes four 1‑bed, 1‑bath apartments and one studio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,632
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$772,640
$772.6K
Cap Rate 7%
$551,886
$551.9K
Cap Rate 9%
$429,244
$429.2K
Market Conditions
NOI Build-Up for 2,456 SF
Gross rent
$74.6K $30.36/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$70.2K $28.60/SF
− OpEx
−$31.6K −$12.87/SF
NOI
$38.6K $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 Rate 5%
$772,640
Cap Rate 7%
$551,886
Cap Rate 9%
$429,244
Alternative Uses
Best Use
Apartment 5plus
$551.9K
$482.9K – $643.9K
NOI $38,632 @ 7.0% cap · market cap 8.22%
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 8.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,093
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with four one-bedroom apartments and one studio near transit, university, healthcare, and neighborhood retail.
Where is this apartment building located?
The property is located at 1729 W ERIE AVE Philadelphia, PA.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Five‑unit multifamily building; 2,456 square feet on a 0.00‑acre property; Unit mix includes four 1‑bed, 1‑bath apartments and one studio
