Tax-Abated 12-Unit Apartment
For Sale
$4,150,000
204549 Trenton Avenue, Philadelphia, PA 19125
Fully leased 12-unit property with exposed-brick character and up to 18-foot ceilings, plus remaining full tax abatement.
Property Size13,277 SF
Price / SF$312.57
Days on Market165
Property Features for 204549 Trenton Avenue
General Information
Standard status
Active
Size
13,277 SF
Property subtype
Multi-family
Lease Term
[]
Building Details
Year Built
1903
Listing Agency:
Compass RE
(267) 205-1369
Listed By:
Reda B Akbil · License #RS337002
Source:
Deepcreeklake
Added: Feb 16
Changed: Jul 27
Last Checked: Jul 30 at 5:25PM
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 Compass RE
Investment Insights
Based on property information with market context.
This fully leased, turnkey 12-unit multifamily asset is presented with professional management in place and approximately seven years remaining on the full tax abatement. The unit mix includes four one-bedroom and eight two-bedroom apartments, with several units featuring distinctive industrial and historic elements such as exposed brick, original beams, ductwork, oversized windows, and ceiling heights reaching up to 18 feet.
Located at 2045-49 Trenton Avenue in Fishtown, the property sits along the historic cobblestone stretch of Trenton Avenue and is described as just steps from Frankford Avenue. The area is characterized in the remarks as walkable, with nearby restaurants, bars, and cafés.
The property is also noted as being within a Qualified Opportunity Zone, offering a stabilized configuration with a 100% leased occupancy at the time of listing.
Located at 2045-49 Trenton Avenue in Fishtown, the property sits along the historic cobblestone stretch of Trenton Avenue and is described as just steps from Frankford Avenue. The area is characterized in the remarks as walkable, with nearby restaurants, bars, and cafés.
The property is also noted as being within a Qualified Opportunity Zone, offering a stabilized configuration with a 100% leased occupancy at the time of listing.
Key Highlights
- 12‑unit multifamily property built in 1903 and fully leased (100% occupancy).
- Unit mix of 4 one‑bedroom units averaging 800 SF and 8 two‑bedroom units averaging 1,000 SF.
- Ceiling heights up to 18 feet with exposed brick, original beams, ductwork, and oversized windows in the units.
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 | $403.1k | $30.36 |
| − Vacancy | −$23.4k | −$1.76 |
| EGI | $379.7k | $28.60 |
| − OpEx | −$170.9k | −$12.87 |
| NOI | $208.8k | $15.73 |
13,277 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.98M
$2.61M – $3.48M
NOI $208,841 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.24M
$2.83M – $3.78M
NOI $226,571 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,564
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
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 - Fully leased 12-unit property with exposed-brick character and up to 18-foot ceilings, plus remaining full tax abatement.
Where is this apartment building located?
The property is located at 204549 Trenton Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $4,150,000.
What are key features of this property?
This property features: 12‑unit multifamily property built in 1903 and fully leased (100% occupancy).; Unit mix of 4 one‑bedroom units averaging 800 SF and 8 two‑bedroom units averaging 1,000 SF.; Ceiling heights up to 18 feet with exposed brick, original beams, ductwork, and oversized windows in the units.
