West Kensington Multifamily Investment
For Sale
$650,000
175 W Berks St, Philadelphia, PA 19122
7-unit multifamily building in rapidly developing West Kensington, Philadelphia.
Property Size3,800 SF
Price / SF$171.05
Days on Market165
Property Features for 175 W Berks St
General Information
Standard status
Active
Size
3,800 SF
Taxes and HOA fees
Annual Taxes
$7,418
Listing Agency:
Keller Williams Real Estate - Newtown
(215) 630-7325
Listed By:
Nick Desloges · License #AB069251
(215) 630-7325
Source:
Exprealty
Added: Mar 13
Changed: Aug 23
Last Checked: Aug 22 at 4:07PM
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 Keller Williams Real Estate - Newtown
Investment Insights
Based on property information with market context.
Located in the rapidly evolving West Kensington neighborhood of Philadelphia, 175 West Berks Street is a 7-unit multifamily property that presents an opportunity to acquire a stabilized asset with upside potential. The property is positioned in an area benefiting from ongoing redevelopment and new residential construction. The building consists of six one-bedroom apartments and one efficiency unit. There is a value-add opportunity through rent increases to current market levels, creating the potential to improve net operating income. There may be the possibility of vertical expansion by adding additional floors, subject to verification with local zoning regulations. The property is in a centrally located Philadelphia neighborhood with strong rental demand. The property size is 3800 square feet.
Key Highlights
- Value‑add opportunity through rent increases to market levels.
- Located in rapidly developing West Kensington neighborhood.
- 7‑unit multifamily property with a desirable unit mix (6 one‑bedroom, 1 efficiency).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,772
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,195,440
$1.2M
Cap Rate 7%
$853,886
$853.9K
Cap Rate 9%
$664,133
$664.1K
Market Conditions
NOI Build-Up for 3,800 SF
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.
Gross rent
$115.4K $30.36/SF
− Vacancy
−$6.7K −$1.76/SF
EGI
$108.7K $28.60/SF
− OpEx
−$48.9K −$12.87/SF
NOI
$59.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,195,440
Cap Rate 7%
$853,886
Cap Rate 9%
$664,133
Alternative Uses
Best Use
Apartment 5plus
$853.9K
$747.2K – $996.2K
NOI $59,772 @ 7.0% cap · market cap 9.20%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$926.4K
$810.6K – $1.08M
NOI $64,847 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,638
Businesses Nearby
Explore this area
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
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 - 7-unit multifamily building in rapidly developing West Kensington, Philadelphia.
Where is this apartment building located?
The property is located at 175 W Berks St Philadelphia, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Value‑add opportunity through rent increases to market levels.; Located in rapidly developing West Kensington neighborhood.; 7‑unit multifamily property with a desirable unit mix (6 one‑bedroom, 1 efficiency).
