30-Unit Luxury Apartment
For Sale
$9,200,000
1951 Point Breeze Ave, 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 Market309
Property Features for 1951 Point Breeze Ave
General Information
Standard status
Active
Size
33,000 SF
Property subtype
Commercial
Building Details
Year Built
2023
Listing Agency:
HomeSmart Realty Advisors
Listed By:
Gazi Ataseven · License #RM426020
(267) 323-4884
Source:
Baltimoreharfordhomesforsale
Added: Dec 17, 2025
Changed: Oct 16
Last Checked: Oct 20 at 10:12PM
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
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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 / Yr
$519,074
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,639
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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 Ave 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)
