30-Unit Luxury Apartment
For Sale
$9,200,000
1951 POINT BREEZE AVENUE, Philadelphia, PA 19145
Newer 30-unit multifamily property with approximately 90% occupancy and an approved tax abatement.
Property Size33,000 SF
Price / SF$278.79
Days on Market276
Property Features for 1951 POINT BREEZE AVENUE
General Information
Standard status
Active
Size
33,000 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$7,809
Amenities
Central Air
3
Parking.
Lot.
60.00 x 180.00
Building Details
Year Built
2023
Listing Agency:
HomeSmart Realty Advisors
(215) 604-1191
Listed By:
Gazi Ataseven · License #RM426020
(267) 774-6886
Source:
Xome
Added: Dec 4, 2025
Changed: Sep 1
Last Checked: Sep 5 at 4:37AM
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 HomeSmart Realty Advisors
Investment Insights
Based on property information with market context.
Introducing 1951 Point Breeze Ave, a class A 30-unit luxury apartment building constructed approximately two years ago. The property is presented as fully stabilized and turn-key, with contemporary finishes and energy-efficient systems designed to support a low-maintenance operating profile.
The building is offered with an approved tax abatement. The marketing materials cite approximately 90% occupancy and approximately $60,000 in monthly income at full stabilization, along with reduced operating expenses tied to the abatement.
As an income-focused residential asset, it is described as requiring minimal near-term capital expenditures and positioned to provide consistent rental demand for investors.
The building is offered with an approved tax abatement. The marketing materials cite approximately 90% occupancy and approximately $60,000 in monthly income at full stabilization, along with reduced operating expenses tied to the abatement.
As an income-focused residential asset, it is described as requiring minimal near-term capital expenditures and positioned to provide consistent rental demand for investors.
Key Highlights
- 30‑unit multifamily property built in 2023
- Approximately 90% occupancy reported in the listing
- Approx. $60,000 in monthly income at full stabilization (per listing remarks)
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
$519,074
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
5.64%
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%
$10,381,480
$10.4M
Cap Rate 7%
$7,415,343
$7.4M
Cap Rate 9%
$5,767,489
$5.8M
Market Conditions
NOI Build-Up for 33,000 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
$1.00M $30.36/SF
− Vacancy
−$58.1K −$1.76/SF
EGI
$943.8K $28.60/SF
− OpEx
−$424.7K −$12.87/SF
NOI
$519.1K $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%
$10,381,480
Cap Rate 7%
$7,415,343
Cap Rate 9%
$5,767,489
Alternative Uses
Best Use
Apartment 5plus
$7.42M
$6.49M – $8.65M
NOI $519,074 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$8.04M
$7.04M – $9.39M
NOI $563,142 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,639
Businesses Nearby
Explore this area
Business Placement
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
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 - Newer 30-unit multifamily property with approximately 90% occupancy and an approved tax abatement.
Where is this apartment building located?
The property is located at 1951 POINT BREEZE AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $9,200,000.
What are key features of this property?
This property features: 30‑unit multifamily property built in 2023; Approximately 90% occupancy reported in the listing; Approx. $60,000 in monthly income at full stabilization (per listing remarks)
