Four-Unit Residential Income
402 FAIRMOUNT AVENUE Philadelphia, PA 19123
For Sale
$890,000
MULTI_FAMILY - PHILADELPHIA, PA
Property Size3,150 SF
Price / SF$282.54
Days on Market95
Property Features for 402 FAIRMOUNT AVENUE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Townhouse
- Standard status
- Active
- Size
- 3,150 SF
Building Details
- Year built
- 1920
Listing Agency:
BHHS Fox & Roach Blue Bell
(215) 542-2200
Listed By:
Benjamin Wong · License #1328097
(215) 806-0988
Added: Apr 24
Changed: Jul 23
Last Checked: Jul 27 at 6:06AM
MLS# PAPH2612524
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit residential income property is being sold as is and includes one private courtyard accessible through the common area. Three of the four units are currently rented, while one unit has been intentionally left vacant to provide flexibility for the next owner. The first-floor space offers a unique layout with potential for a private residence, studio, or possible business or retail use, subject to buyer verification with the City of Philadelphia, and it was historically used as retail decades ago.
The second and third floor rear units are both well maintained one-bedroom apartments. The front unit spans the second and third floors and includes a two-bedroom, two full-bathroom layout. Entry is on the second level with a kitchen, dining area, and living room, plus a private balcony. The third level features a large bedroom, a full bathroom, a walk-in closet, and in-unit washer and dryer, along with an additional bedroom on the top floor.
The property has been owned by the same family for nearly 100 years and has been maintained over time, including the recent installation of a brand new PVC sewer line. Located in Northern Liberties with convenient access to Center City and major transportation routes, the area offers nearby restaurants, cafes, shops, and nightlife.
The second and third floor rear units are both well maintained one-bedroom apartments. The front unit spans the second and third floors and includes a two-bedroom, two full-bathroom layout. Entry is on the second level with a kitchen, dining area, and living room, plus a private balcony. The third level features a large bedroom, a full bathroom, a walk-in closet, and in-unit washer and dryer, along with an additional bedroom on the top floor.
The property has been owned by the same family for nearly 100 years and has been maintained over time, including the recent installation of a brand new PVC sewer line. Located in Northern Liberties with convenient access to Center City and major transportation routes, the area offers nearby restaurants, cafes, shops, and nightlife.
Key Highlights
- Four‑unit property at 402 Fairmount Avenue in Philadelphia (built in 1920)
- Three of four units are currently rented, and one unit is intentionally left vacant
- First‑floor space has a layout that could support a private residence, studio, or business/retail use (subject to City verification)
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 | $81.3k | $25.80 |
| − Vacancy | −$4.5k | −$1.42 |
| EGI | $76.8k | $24.38 |
| − OpEx | −$23.0k | −$7.31 |
| NOI | $53.8k | $17.06 |
3,150 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$767.9K
$671.9K – $895.9K
NOI $53,754 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$707.8K
$619.4K – $825.8K
NOI $49,548 @ 7.0% cap · market cap 5.57%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Three units are currently rented, with one unit left vacant and a private courtyard for added functionality.
Where is this quadplex located?
The property is located at 402 FAIRMOUNT AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Four‑unit property at 402 Fairmount Avenue in Philadelphia (built in 1920); Three of four units are currently rented, and one unit is intentionally left vacant; First‑floor space has a layout that could support a private residence, studio, or business/retail use (subject to City verification)
