12-Unit Apartment
3401 WALLACE STREET Philadelphia, PA 19104
For Sale
$4,350,000
Twelve-unit multifamily building available for sale in Philadelphia.
Property Size10,500 SF
Price / SF$414.29
Days on Market8
Property Features for 3401 WALLACE STREET
General Information
- Standard status
- Active
- Size
- 10,500 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2021
Listing Agency:
Compass RE
(267) 205-1369
Listed By:
Reda Akbil · License #RS337002
(267) 205-1369
Source:
Xome
Added: Jul 18
Changed: Jul 24
Last Checked: Jul 24 at 5:06AM
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 RE
Investment Insights
Based on property information with market context.
This for-sale multifamily property is a 12-unit apartment building. It offers a straightforward income-building configuration in a single residential income asset.
The building is located at 3401 Wallace Street in Philadelphia, Pennsylvania.
Additional details such as unit mix, condition, and updates are not provided in the available information.
The building is located at 3401 Wallace Street in Philadelphia, Pennsylvania.
Additional details such as unit mix, condition, and updates are not provided in the available information.
Key Highlights
- Twelve‑unit multifamily building for sale in Philadelphia
- Year built: 2021
- Central air conditioning
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 | $318.8k | $30.36 |
| − Vacancy | −$18.5k | −$1.76 |
| EGI | $300.3k | $28.60 |
| − OpEx | −$135.1k | −$12.87 |
| NOI | $165.2k | $15.73 |
10,500 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.36M
$2.06M – $2.75M
NOI $165,160 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.56M
$2.24M – $2.99M
NOI $179,181 @ 7.0% cap · market cap 4.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Twelve-unit multifamily building available for sale in Philadelphia.
Where is this apartment building located?
The property is located at 3401 WALLACE STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: Twelve‑unit multifamily building for sale in Philadelphia; Year built: 2021; Central air conditioning
