6-Unit Multifamily
234-38 W ROOSEVELT Boulevard Philadelphia, PA 19120
234-38 W ROOSEVELT Boulevard, Philadelphia, PA, 19120
$639,900
For Sale
$639,900
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size3,450 SF
Lot Size0.10 Acres
Price / SF$185.48
Days on Market16
Property Features for 234-38 W ROOSEVELT Boulevard
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- On Street
- Standard status
- Active
- Size
- 3,450 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3393
Utilities
- Heating system
- Baseboard, Electric (Heating), Other (Heating)
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1940
- Number of units
- 2
- Building materials
- Masonry, Brick
- Architectural style
- Other
Listing Agency
Giraldo Real Estate Group
(215) 745-0101
6443 Rising Sun Avenue, Philadelphia, PA
Listed by
Jackeline Estrada · License #RS377975
(215) 745-0101
Added: Jul 1 Checked: Jul 16 at 6:06 pm
MLS# PAPH2639838
Listing URL
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale 6-unit multifamily property includes six one-bedroom apartments. The units are supported by separately metered utilities, with electric, heat, and hot water billed directly to tenants. Based on recent updates mentioned in the remarks, the property appears to have improvements in place rather than being a full renovation. The building also has a basement, and two units are described as having potential to add additional bedrooms and bathrooms by connecting to the basement.
The property is located at 234-38 W Roosevelt Boulevard in Philadelphia, PA 19120 (Feltonville area as noted in the remarks). Currently, five of the six units are occupied with month-to-month leases.
For investors or owner-operators seeking a small income property, the separately metered utility setup can simplify tenant billing, and the current occupancy provides immediate rental demand from the existing leases. Because one unit is not currently occupied, the buyer will also have an opportunity to prepare for stabilization through lease-up and ongoing unit turnover. The information provided also indicates some rents may be below comparable levels, though specific figures are not provided.
The property is located at 234-38 W Roosevelt Boulevard in Philadelphia, PA 19120 (Feltonville area as noted in the remarks). Currently, five of the six units are occupied with month-to-month leases.
For investors or owner-operators seeking a small income property, the separately metered utility setup can simplify tenant billing, and the current occupancy provides immediate rental demand from the existing leases. Because one unit is not currently occupied, the buyer will also have an opportunity to prepare for stabilization through lease-up and ongoing unit turnover. The information provided also indicates some rents may be below comparable levels, though specific figures are not provided.
Key Highlights
- 6‑unit multifamily property with 1‑bedroom apartments built in 1940
- Basement access offers potential to add extra bedrooms and bathrooms by connecting to the basement
- All utilities are separately metered (electric, heat, and hot water) and tenant‑paid
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 | $65.4k | $18.96 |
| − Vacancy | −$5.0k | −$1.44 |
| EGI | $60.4k | $17.52 |
| − OpEx | −$27.2k | −$7.88 |
| NOI | $33.2k | $9.64 |
3,450 SF · lease $18.96/SF/yr · vacancy 7.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$474.9K
$415.5K – $554.0K
NOI $33,242 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$824.1K
$721.1K – $961.5K
NOI $57,689 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Six one-bedroom apartments with separately metered, tenant-paid utilities and mostly occupied, month-to-month leases.
Where is this apartment building located?
The property is located at 234-38 W ROOSEVELT Boulevard Philadelphia, PA.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: 6‑unit multifamily property with 1‑bedroom apartments built in 1940; Basement access offers potential to add extra bedrooms and bathrooms by connecting to the basement; All utilities are separately metered (electric, heat, and hot water) and tenant‑paid
