Turnkey 5-Unit Multifamily
For Sale
$475,000
1729 W ERIE Avenue, Philadelphia, PA 19140
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size2,456 SF
Lot Size0.04 Acres
Price / SF$193.40
Days on Market50
Property Features for 1729 W ERIE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Subdivision
ALLEGHENY WEST
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,456 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6553
Utilities
Heating system
Central
Cooling system
Wall Unit(s)
Building Details
Year built
1930
Number of units
4
Building materials
Masonry
Architectural style
Other
Listing Agency:
OCF Realty LLC - Philadelphia
(215) 735-7368
Listed By:
Kevin M McGettigan · License #RS326539
(856) 347-0434
Added: Jun 12
Changed: Jun 25
Last Checked: Jul 31 at 5:06AM
MLS# PAPH2634542
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turnkey 5-unit multifamily property offers a practical mix of apartments, including four 1-bedroom, 1-bath units and one studio unit. The property is described as having straightforward systems and well-suited layouts for day-to-day operation. Financial details and a rent roll are available upon request, supporting review of current income and expenses as part of the purchase process.
The building is located in North Philadelphia’s West Allegheny neighborhood, with access to Broad Street transit. It is also positioned near Temple University and the Health System, neighborhood retail, and major bus routes, which are highlighted as factors that can support consistent leasing demand.
For investors or owner-operators seeking a manageable scale property, the current unit mix creates flexibility in tenant placement across studio and 1-bedroom floorplans. The offering is available individually or as part of a three-property, 14-unit package that includes 3521 N 21st St and 2122 W Estaugh St, providing an option to build or expand a small portfolio while maintaining the same general strategy.
The building is located in North Philadelphia’s West Allegheny neighborhood, with access to Broad Street transit. It is also positioned near Temple University and the Health System, neighborhood retail, and major bus routes, which are highlighted as factors that can support consistent leasing demand.
For investors or owner-operators seeking a manageable scale property, the current unit mix creates flexibility in tenant placement across studio and 1-bedroom floorplans. The offering is available individually or as part of a three-property, 14-unit package that includes 3521 N 21st St and 2122 W Estaugh St, providing an option to build or expand a small portfolio while maintaining the same general strategy.
Key Highlights
- 5‑unit multifamily with four 1‑bed, 1‑bath units and one studio unit
- Year built 1930; masonry construction
- Central heating and wall‑unit cooling
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
Property Profile
Current Use
Lease Details
5
Residential units
Turnkey business
Opportunity
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 - Turnkey 5-unit building with practical studio and 1-bedroom layouts, offered for sale with a provided rent roll on request.
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: 5‑unit multifamily with four 1‑bed, 1‑bath units and one studio unit; Year built 1930; masonry construction; Central heating and wall‑unit cooling
