Multifamily Building with
2440 Kensington Ave Philadelphia, PA 19125
2440 Kensington Ave, Philadelphia, PA, 19125
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For Sale
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10 two-bedroom apartments plus a separate 2,500-square-foot commercial unit and three parking spaces.
Property Size10,428 SF
Price / SF$213.37
Days on Market94
Property Features for 2440 Kensington Ave
General Information
- Standard status
- Active
- Size
- 10,428 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2020
Listing agency
Trophy Commercial Real Estate
(215) 608-5745
Listed by
Saam Tashayyod · License #PA RM425803
Source
Crexi
Added: Apr 20 Updated: Jul 22 at 12:17PM Checked: Jul 22 at 12:17PM
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 Trophy Commercial Real Estate
Investment Insights
Based on property information with market context.
2440 Kensington Avenue is a 10-unit multifamily property that also includes a dedicated commercial space. The residential portion consists of 10 two-bedroom apartments totaling approximately 7,928 square feet of rentable area, supported by a uniform unit layout. The property also offers a 2,500-square-foot commercial unit and three parking spaces.
The building is located at 2440 Kensington Ave in Philadelphia’s Kensington neighborhood. For sale, it presents an owner with both residential and commercial rental components in a single asset.
The property’s mix of apartment units and a sizable commercial space, along with on-site parking, supports straightforward day-to-day operations for an investor or owner-operator.
The building is located at 2440 Kensington Ave in Philadelphia’s Kensington neighborhood. For sale, it presents an owner with both residential and commercial rental components in a single asset.
The property’s mix of apartment units and a sizable commercial space, along with on-site parking, supports straightforward day-to-day operations for an investor or owner-operator.
Key Highlights
- 10‑unit multifamily property plus separate 2,500 SF commercial unit
- Built in 2020 with 10 two‑bedroom apartments totaling approx. 7,928 SF of rentable space
- Includes 3 parking spaces for tenant and/or commercial use
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 | $316.6k | $30.36 |
| − Vacancy | −$18.4k | −$1.76 |
| EGI | $298.2k | $28.60 |
| − OpEx | −$134.2k | −$12.87 |
| NOI | $164.0k | $15.73 |
10,428 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.34M
$2.05M – $2.73M
NOI $164,027 @ 7.0% cap · market cap 7.37%
Second Best
Retail
$1.68M
$1.47M – $1.96M
NOI $117,859 @ 7.0% cap · market cap 5.30%
Theoretical Best
Multifamily LT 5
$2.54M
$2.22M – $2.97M
NOI $177,953 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Browlux Beauty Studio
Hair Salon
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 10 two-bedroom apartments plus a separate 2,500-square-foot commercial unit and three parking spaces.
Where is this apartment building located?
The property is located at 2440 Kensington Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,225,000.
What are key features of this property?
This property features: 10‑unit multifamily property plus separate 2,500 SF commercial unit; Built in 2020 with 10 two‑bedroom apartments totaling approx. 7,928 SF of rentable space; Includes 3 parking spaces for tenant and/or commercial use
