6-Unit Multifamily Income
234-38 West Roosevelt Boulevard Philadelphia, PA 19120
For Sale
$649,900
Six 1-bedroom units with separately metered electric, heat, and hot water, and five units currently occupied on month-to-month leases.
Property Size3,450 SF
Price / SF$188.38
Days on Market429
Property Features for 234-38 West Roosevelt Boulevard
General Information
- Standard status
- Active
- Size
- 3,450 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1930
Listing Agency:
Giraldo Real Estate Group
(215) 745-0101
Listed By:
Jackeline Estrada · License #RS377975
(215) 745-0101
Source:
Compass
Added: May 23, 2025
Changed: Jul 22
Last Checked: Jul 24 at 12:07PM
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 Giraldo Real Estate Group
Investment Insights
Based on property information with market context.
This 6-unit multifamily property offers six 1-bedroom apartments. The units are described as well-maintained, and the electric, heat, and hot water are separately metered for tenant payment.
Five of the six units are currently occupied with month-to-month leases. The property is located in Philadelphia County, Philadelphia, and a bus stop is listed as less than 1 mile.
The listing notes that updates were completed in recent years. It also states that two units may be able to add extra bedrooms and bathrooms by connecting to the basement, subject to configuration and execution.
Five of the six units are currently occupied with month-to-month leases. The property is located in Philadelphia County, Philadelphia, and a bus stop is listed as less than 1 mile.
The listing notes that updates were completed in recent years. It also states that two units may be able to add extra bedrooms and bathrooms by connecting to the basement, subject to configuration and execution.
Key Highlights
- 6‑unit multifamily with all units described as 1‑bedroom apartments
- Utilities are separately metered for electric, heat, and hot water (fully tenant‑paid)
- 5 of the 6 units are currently occupied with month‑to‑month leases
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 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$824.1K
$721.1K – $961.5K
NOI $57,689 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six 1-bedroom units with separately metered electric, heat, and hot water, and five units currently occupied on month-to-month leases.
Where is this apartment building located?
The property is located at 234-38 West Roosevelt Boulevard Philadelphia, PA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 6‑unit multifamily with all units described as 1‑bedroom apartments; Utilities are separately metered for electric, heat, and hot water (fully tenant‑paid); 5 of the 6 units are currently occupied with month‑to‑month leases
