30-Unit Luxury Apartment
1951 Point Breeze Avenue Philadelphia, PA 19145
1951 Point Breeze Avenue, Philadelphia, PA, 19145
$9,200,000
For Sale
$9,200,000
Newer 30-unit multifamily property with approximately 90% occupancy and an approved tax abatement.
Property Size33,000 SF
Price / SF$278.79
Days on Market306
Property Features for 1951 Point Breeze Avenue
General Information
- Standard status
- Active
- Size
- 33,000 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2023
Listing agency
HomeSmart Realty Advisors
(267) 774-6886
Listed by
Gazi Ataseven · License #RM426020
(267) 774-6886
Source
Xome
Added: Sep 20, 2025 Updated: Jul 20 at 5:57PM Checked: Jul 22 at 3:51AM
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)
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 | $1.00M | $30.36 |
| − Vacancy | −$58.1k | −$1.76 |
| EGI | $943.8k | $28.60 |
| − OpEx | −$424.7k | −$12.87 |
| NOI | $519.1k | $15.73 |
33,000 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
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)
