Four-Unit Multifamily
For Sale
$1,000,000
2400 West Thompson Street, Philadelphia, PA 19121
Built in 2016, the property offers updated kitchens, tiled bathrooms, and hardwood flooring.
Property Size4,166 SF
Price / SF$240.04
Days on Market326
Property Features for 2400 West Thompson Street
General Information
Standard status
Active
Size
4,166 SF
Property subtype
Multi-Family / Fee Simple
Zoning
CMX2
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,215
Amenities
in-unit laundry
No
Ramp - Main Level
No Pool
Above Grade, Below Grade
Building Details
Year Built
2016
Listing Agency:
Keller Williams Realty Wilmington
Listed By:
sAAJAN Patel
(484) 544-2352
Source:
Compass
Added: Oct 15, 2025
Changed: Aug 31
Last Checked: Aug 30 at 2:45AM
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 Keller Williams Realty Wilmington
Investment Insights
Based on property information with market context.
Located at 2400 West Thompson Street in Philadelphia, this four-unit multifamily property contains 4,166 square feet and was built in 2016. Interior features include hardwood floors, tiled bathrooms, and updated kitchens, with in-unit laundry provided in select units. A ramp serves the main level, and the property includes both above-grade and below-grade areas.
The property is zoned CMX2 and sits in Philadelphia County's 19121 MLS area. Fairmount Park and the Art Museum are nearby, with major transit routes also identified in the surrounding area. The address places the building within the Sharswood/Brewerytown area referenced in the property information.
The property is zoned CMX2 and sits in Philadelphia County's 19121 MLS area. Fairmount Park and the Art Museum are nearby, with major transit routes also identified in the surrounding area. The address places the building within the Sharswood/Brewerytown area referenced in the property information.
Key Highlights
- Four‑unit multifamily property with 4,166 SF
- Built in 2016
- Hardwood floors, tiled bathrooms, and updated kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,092
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,421,840
$1.4M
Cap Rate 7%
$1,015,600
$1.0M
Cap Rate 9%
$789,911
$789.9K
Market Conditions
NOI Build-Up for 4,166 SF
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.
Gross rent
$107.5K $25.80/SF
− Vacancy
−$5.9K −$1.42/SF
EGI
$101.6K $24.38/SF
− OpEx
−$30.5K −$7.31/SF
NOI
$71.1K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,421,840
Cap Rate 7%
$1,015,600
Cap Rate 9%
$789,911
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$888.7K – $1.18M
NOI $71,092 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$936.1K
$819.1K – $1.09M
NOI $65,529 @ 7.0% cap · market cap 6.55%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,950
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
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?
Quadplex - Built in 2016, the property offers updated kitchens, tiled bathrooms, and hardwood flooring.
Where is this quadplex located?
The property is located at 2400 West Thompson Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 4,166 SF; Built in 2016; Hardwood floors, tiled bathrooms, and updated kitchens
