University City Multifamily Elevator
4042 Chestnut St Philadelphia, PA 19104
4042 Chestnut St, Philadelphia, PA, 19104
Contact for pricing
For Sale
Contact for pricing
25-unit, 70-bed multifamily building in University City.
Property Size34,944 SF
Price / SF$367.73
Days on Market129
Property Features for 4042 Chestnut St
General Information
- Standard status
- Active
- Size
- 34,944 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2015
Listing Agency
GREA
Listed by
Ken Wellar · License #PA 10401252368
Source
Crexi
Added: Mar 12 Checked: Jul 17 at 8:47 am
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 GREA
Investment Insights
Based on property information with market context.
This 25-unit, 70-bed elevator building is located in University City, adjacent to the local police station and within the UPenn Security Zone. The mid-rise building at 40th & Chestnut Streets features three-bedroom/three-bath layouts averaging 1,000 square feet. Building amenities include a parking garage, keyless entry, and hardwood floors throughout. It is 0.3 miles from the Market-Frankford Line subway station. University City is recognized as a regional leader in science and Innovation, featuring distinguished universities and hospitals. The neighborhood spans 2.4 square miles and accommodates over 50,000 residents, alongside 85,000 jobs in various sectors, including medicine, higher education, real estate, technology, and hospitality. University City offers extensive real estate development opportunities and provides some of the region's best transportation infrastructure, including highly accessible bicycle and pedestrian thoroughfares. This prominent section of the City stands as a cultural destination and transportation hub, as well as an employment center that supports significant development projects and advances in life sciences. With a diverse population, varied housing and rental options, exceptional educational institutions and medical facilities, and a wide array of amenities, University City is considered one of Philadelphia’s premier neighborhoods and is well-positioned to address both current and future needs. The property size is 34,944 square feet.
Key Highlights
- Prime location in University City, a premier Philadelphia neighborhood.
- Unmatched safety credentials due to adjacency to the local police station and location within the UPenn Security Zone.
- Trophy 25‑unit elevator building catering to the high‑end UPenn and USciences demographic.
Local 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 | $1.06M | $30.36 |
| − Vacancy | −$61.5k | −$1.76 |
| EGI | $999.4k | $28.60 |
| − OpEx | −$449.7k | −$12.87 |
| NOI | $549.7k | $15.73 |
34,944 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$7.85M
$6.87M – $9.16M
NOI $549,652 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$8.52M
$7.45M – $9.94M
NOI $596,316 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Red Blue Prep
Tutoring Service
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 25-unit, 70-bed multifamily building in University City.
Where is this apartment building located?
The property is located at 4042 Chestnut St Philadelphia, PA.
What is the asking price?
The asking price for this property is $12,850,000.
What are key features of this property?
This property features: Prime location in University City, a premier Philadelphia neighborhood.; Unmatched safety credentials due to adjacency to the local police station and location within the UPenn Security Zone.; **Trophy 25‑unit elevator building catering to the high‑end UPenn and USciences demographic.**
