6-Unit Apartment
For Sale
$639,900
234 234-38 W Roosevelt Boulevard, Philadelphia, PA 19120
Six one-bedroom apartments feature separate utility metering, with five units occupied under month-to-month leases.
Property Size3,450 SF
Price / SF$185.48
Days on Market94
Property Features for 234 234-38 W Roosevelt Boulevard
General Information
Standard status
Active
Size
3,450 SF
Property subtype
Multi-Family
Units
Unit Mix
6 x 1BR
Multifamily Units
6
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1940
Listing Agency:
Giraldo Real Estate Group
Listed By:
Jackeline Estrada · License #RS377975
(267) 506-3230
Source:
Bethsamberg
Added: Jul 21
Changed: Oct 14
Last Checked: Oct 7 at 3:54PM
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
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Investment Insights
Based on property information with market context.
This six-unit apartment property contains six one-bedroom apartments, providing a consistent residential layout across the building. Two units have basement connections that may support adding bedrooms and bathrooms, subject to applicable approvals and construction requirements. Electric, heat, and hot water are separately metered for each unit, with those utilities paid by tenants.
Five of the six apartments are occupied under month-to-month leases. The property is located at 234-38 W Roosevelt Boulevard in Philadelphia, Pennsylvania, and was built in 1940. The existing unit count, individual utility metering, and current occupancy provide a clear operating profile for multifamily ownership.
Five of the six apartments are occupied under month-to-month leases. The property is located at 234-38 W Roosevelt Boulevard in Philadelphia, Pennsylvania, and was built in 1940. The existing unit count, individual utility metering, and current occupancy provide a clear operating profile for multifamily ownership.
Key Highlights
- Six one‑bedroom apartments in a multifamily property
- Five of six units occupied with month‑to‑month leases
- Electric, heat, and hot water separately metered and tenant‑paid
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,242
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,840
$664.8K
Cap Rate 7%
$474,886
$474.9K
Cap Rate 9%
$369,356
$369.4K
Market Conditions
NOI Build-Up for 3,450 SF
Gross rent
$65.4K $18.96/SF
− Vacancy
−$5.0K −$1.44/SF
EGI
$60.4K $17.52/SF
− OpEx
−$27.2K −$7.88/SF
NOI
$33.2K $9.64/SF
Area
ZIP 19120
Vacancy
7.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,840
Cap Rate 7%
$474,886
Cap Rate 9%
$369,356
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 authorities.
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Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,494
Businesses Nearby
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Business Placement
Demographics for 19120, PA
66,177
Population
25,730
Households
2.6
Avg Household Size
35
Median Age
13%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
20,680
Density / Sq Mi
$51,993
Median Household Income
$32,980
Median Earnings
$1,186
Median Rent
$143,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Six one-bedroom apartments feature separate utility metering, with five units occupied under month-to-month leases.
Where is this apartment building located?
The property is located at 234 234-38 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: Six one‑bedroom apartments in a multifamily property; Five of six units occupied with month‑to‑month leases; Electric, heat, and hot water separately metered and tenant‑paid
