5-Unit Apartment
New
For Sale
$1,500,000
321 N 40TH ST, Philadelphia, PA 19104
Five residences feature separate utilities, dedicated HVAC, and in-unit laundry.
Property Size5,792 SF
Price / SF$258.98
Days on Market5
Property Features for 321 N 40TH ST
General Information
Standard status
Active
Size
5,792 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
2 x 5BR/2BA, 1 x 4BR/2BA, 2 x 2BR/1BA
Multifamily Units
5
Additional Details
Furnished
Yes
Public Transit
Yes
Amenities
dedicated HVAC systems
washer and dryer
unfinished basement
Building Details
Buildings
1
Listing Agency:
Compass Pennsylvania, LLC
(610) 822-3356
Listed By:
Jordan B Wiener · License #RS229414
(610) 996-6000
Source:
Graves
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 12 at 7:24PM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
This 5,792-square-foot apartment building contains five units: two with five bedrooms and two bathrooms, one with four bedrooms and two bathrooms, and two with two bedrooms and one bathroom. Apartments have hardwood floors, granite and stainless-steel kitchens with Shaker cabinets, dishwashers, built-in microwaves, and tiled bathrooms. Each unit also has its own washer and dryer, separate utilities, and dedicated HVAC. Four apartments are partially furnished, and an unfinished basement provides additional storage.
The property is in Philadelphia’s West Powelton neighborhood, near the University City Science Center, Drexel University, and the University of Pennsylvania. SEPTA transportation options are available nearby, and Center City is less than ten minutes away by car or bicycle.
The property is in Philadelphia’s West Powelton neighborhood, near the University City Science Center, Drexel University, and the University of Pennsylvania. SEPTA transportation options are available nearby, and Center City is less than ten minutes away by car or bicycle.
Key Highlights
- Five apartments totaling 5,792 square feet
- Unit mix: two 5‑bedroom, 2‑bath units; one 4‑bedroom, 2‑bath unit; and two 2‑bedroom, 1‑bath units
- Separate utilities and dedicated HVAC systems in each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,105
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,822,100
$1.8M
Cap Rate 7%
$1,301,500
$1.3M
Cap Rate 9%
$1,012,278
$1.0M
Market Conditions
NOI Build-Up for 5,792 SF
Gross rent
$175.8K $30.36/SF
− Vacancy
−$10.2K −$1.76/SF
EGI
$165.6K $28.60/SF
− OpEx
−$74.5K −$12.87/SF
NOI
$91.1K $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%
$1,822,100
Cap Rate 7%
$1,301,500
Cap Rate 9%
$1,012,278
Alternative Uses
Best Use
Apartment 5plus
$1.30M
$1.14M – $1.52M
NOI $91,105 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.41M
$1.24M – $1.65M
NOI $98,840 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
5,324
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Five residences feature separate utilities, dedicated HVAC, and in-unit laundry.
Where is this apartment building located?
The property is located at 321 N 40TH ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Five apartments totaling 5,792 square feet; Unit mix: two 5‑bedroom, 2‑bath units; one 4‑bedroom, 2‑bath unit; and two 2‑bedroom, 1‑bath units; Separate utilities and dedicated HVAC systems in each apartment
