Five-Unit Apartment
For Sale
$895,000
3910 W GIRARD AVENUE, Philadelphia, PA 19104
Updated interiors and current leases across all five residential apartments support an occupied multifamily asset.
Property Size4,090 SF
Days on Market16
Property Features for 3910 W GIRARD AVENUE
General Information
Standard status
Active
Size
4,090 SF
Property subtype
Five Or More Units
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$5,327
Building Details
Building Size
4,090 SF
Year Built
1920
Listing Agency:
Keller Williams Main Line
(215) 421-3362
Listed By:
Denise A Frazier · License #AB067937
(215) 421-3362
Source:
Patmckennarealtors
Added: Jul 29
Changed: Aug 8
Last Checked: Aug 12 at 3:38PM
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 Keller Williams Main Line
Investment Insights
Based on property information with market context.
Built in 1920, this Philadelphia apartment property contains five residential units, each currently leased. The apartments feature updated interiors and modern finishes, providing a refreshed physical presentation within an established multifamily building.
The property is located at 3910 W Girard Avenue in Philadelphia, near public transportation, major roadways, shopping, dining, and neighborhood amenities. Its five-unit configuration and current occupancy offer a straightforward addition to a multifamily portfolio or a 1031 exchange strategy, as expressly identified in the property information.
The property is located at 3910 W Girard Avenue in Philadelphia, near public transportation, major roadways, shopping, dining, and neighborhood amenities. Its five-unit configuration and current occupancy offer a straightforward addition to a multifamily portfolio or a 1031 exchange strategy, as expressly identified in the property information.
Key Highlights
- Five residential apartments with all units currently leased
- Updated apartment interiors with modern finishes
- Constructed in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$64,334
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,286,680
$1.3M
Cap Rate 7%
$919,057
$919.1K
Cap Rate 9%
$714,822
$714.8K
Market Conditions
NOI Build-Up for 4,090 SF
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.
Gross rent
$124.2K $30.36/SF
− Vacancy
−$7.2K −$1.76/SF
EGI
$117.0K $28.60/SF
− OpEx
−$52.6K −$12.87/SF
NOI
$64.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,286,680
Cap Rate 7%
$919,057
Cap Rate 9%
$714,822
Alternative Uses
Best Use
Apartment 5plus
$919.1K
$804.2K – $1.07M
NOI $64,334 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$997.1K
$872.4K – $1.16M
NOI $69,795 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
556
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated interiors and current leases across all five residential apartments support an occupied multifamily asset.
Where is this apartment building located?
The property is located at 3910 W GIRARD AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Five residential apartments with all units currently leased; Updated apartment interiors with modern finishes; Constructed in 1920
