Five-Unit Apartment
318 S 42ND ST, Philadelphia, PA 19104
For Sale
Contact for pricing
Four-story masonry property near the University of Pennsylvania with tenant-paid utilities and a varied apartment mix.
Property Size4,200 SF
Price / SF$297.62
Days on Market102
Property Features for 318 S 42ND ST
General Information
Standard status
Size
Class
Property subtype
Zoning
Investment Type
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Stories
Units
Tenancy
Construction
Listing Agency:
SDG Real Estate
Listed By:
Stephen Stafford · License PA RM424801
(609) 335-4016
Source:
Crexi
Added: Aug 3
Changed: Nov 12
Last Checked: Nov 12 at 8:09AM
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 SDG Real Estate
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Investment Insights
Based on property information with market context.
Built in 1920, this four-story masonry apartment building at 318 S 42nd Street contains 4,200 SF and five legal units. The layout includes one 2BR/1BA apartment, three studios, and one 3BR/1BA apartment. Tenants pay their own utilities, and the property is zoned RM-1.
The building is located in Philadelphia’s University City / Spruce Hill area near the University of Pennsylvania, Penn Medicine, CHOP, and Drexel. SEPTA trolley service and the Market-Frankford Line are within blocks. The property is situated in the Southeast Spruce Hill Historic District, where exterior alterations require Historical Commission approval.
The building is located in Philadelphia’s University City / Spruce Hill area near the University of Pennsylvania, Penn Medicine, CHOP, and Drexel. SEPTA trolley service and the Market-Frankford Line are within blocks. The property is situated in the Southeast Spruce Hill Historic District, where exterior alterations require Historical Commission approval.
Key Highlights
- Five legal apartment units: one 2BR/1BA, three studios, and one 3BR/1BA
- 4,200 SF, four‑story masonry apartment building
- Built in 1920 with 25' frontage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,064
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,321,280
$1.3M
Cap Rate 7%
$943,771
$943.8K
Cap Rate 9%
$734,044
$734.0K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$127.5K $30.36/SF
− Vacancy
−$7.4K −$1.76/SF
EGI
$120.1K $28.60/SF
− OpEx
−$54.1K −$12.87/SF
NOI
$66.1K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,321,280
Cap Rate 7%
$943,771
Cap Rate 9%
$734,044
Alternative Uses
Best Use
Apartment 5plus
$943.8K
$825.8K – $1.10M
NOI $66,064 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.02M
$895.9K – $1.19M
NOI $71,673 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,916
Businesses Nearby
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Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Philadelphia, PA
Properties on Market for Apartment buildings in Philadelphia
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Four-story masonry property near the University of Pennsylvania with tenant-paid utilities and a varied apartment mix.
Where is this apartment building located?
The property is located at 318 S 42ND ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Five legal apartment units: one 2BR/1BA, three studios, and one 3BR/1BA; 4,200 SF, four‑story masonry apartment building; Built in 1920 with 25' frontage
