Turnkey 5-Unit Multifamily
1729 W ERIE Avenue Philadelphia, PA 19140
1729 W ERIE Avenue, Philadelphia, PA, 19140
$475,000
For Sale
$475,000
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size2,456 SF
Lot Size0.04 Acres
Price / SF$193.40
Days on Market37
Property Features for 1729 W ERIE Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- 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
1936 Washington Avenue, Philadelphia, PA
Listed by
Kevin M McGettigan · License #RS326539
(856) 347-0434
Added: Jun 12 Checked: Jul 18 at 5:06 am
MLS# PAPH2634542
Listing URL
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
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
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
