Quadruplex with Updated
For Sale
$500,000
2940 DEVEREAUX AVENUE, Philadelphia, PA 19149
Fully rented quadruplex with one-bedroom and two-bedroom units, with three units updated and one unit offering renovation potential.
Days on Market114
Property Features for 2940 DEVEREAUX AVENUE
General Information
Standard status
Active
Property subtype
Quadruplex
Occupancy
100%
Building Details
Building Size
2,800 SF
Year Built
1970
Tenancy
Multi
Listing Agency:
KW Main Line - Narberth
(610) 731-9300
Listed By:
Damon C. Michels · License #AB067731
(610) 731-9300
Source:
Mainlinekw
Added: Apr 10
Changed: Jul 31
Last Checked: Jul 31 at 5:09AM
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 KW Main Line - Narberth
Investment Insights
Based on property information with market context.
This fully rented quadruplex features four well-laid-out residential units in a configuration that includes two 1-bedroom, 1-bath apartments and two 2-bedroom, 1-bath apartments. The property was built in 1970, and three of the four units have been thoughtfully updated. The remaining unit offers potential for future improvement.
Located at 2940 Devereux Avenue in Philadelphia’s 19149 area, the property is positioned near Wissinoming Park and surrounded by neighborhood amenities such as shopping and dining. Public transportation access is also described as convenient.
For an owner seeking an income-producing multi-family asset with a unit mix that can appeal to a range of tenants, this quadruplex provides an immediately occupied structure with interior updates already in place for most of the building.
Located at 2940 Devereux Avenue in Philadelphia’s 19149 area, the property is positioned near Wissinoming Park and surrounded by neighborhood amenities such as shopping and dining. Public transportation access is also described as convenient.
For an owner seeking an income-producing multi-family asset with a unit mix that can appeal to a range of tenants, this quadruplex provides an immediately occupied structure with interior updates already in place for most of the building.
Key Highlights
- Fully rented quadruplex with four residential units
- Two 1‑bedroom, 1‑bath apartments and two 2‑bedroom, 1‑bath apartments
- Three units updated; one unit offering potential for future improvement
Financial Insights For Multifamily LT 5
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 | $58.8k | $21.00 |
| − Vacancy | −$1.8k | −$0.66 |
| EGI | $57.0k | $20.34 |
| − OpEx | −$17.1k | −$6.10 |
| NOI | $39.9k | $14.24 |
2,800 SF · lease $21.00/SF/yr · vacancy 3.13% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$5.36M
$4.69M – $6.25M
NOI $375,273 @ 7.0% cap · market cap 75.05%
Second Best
Multifamily LT 5
$569.6K
$498.4K – $664.5K
NOI $39,872 @ 7.0% cap · market cap 7.97%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
Explore this area
Business Placement
Demographics for 19149, PA
60,408
Population
20,810
Households
2.9
Avg Household Size
33
Median Age
15%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
25,170
Density / Sq Mi
$54,679
Median Household Income
$33,111
Median Earnings
$1,484
Median Rent
$198,200
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 - Fully rented quadruplex with one-bedroom and two-bedroom units, with three units updated and one unit offering renovation potential.
Where is this quadplex located?
The property is located at 2940 DEVEREAUX AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Fully rented quadruplex with four residential units; Two 1‑bedroom, 1‑bath apartments and two 2‑bedroom, 1‑bath apartments; Three units updated; one unit offering potential for future improvement
