25-Unit Multifamily Investment
For Sale
Contact for pricing
4046 Chestnut St, Philadelphia, PA 19104
25-unit, 70-bed multifamily property with consistent cash flow.
Property Size34,924 SF
Price / SF$370.81
Days on Market218
Property Features for 4046 Chestnut St
General Information
Standard status
Active
Size
34,924 SF
Class
B
Property subtype
Multifamily
Zoning
CMX-4
Building Details
Year Built
2017
Buildings
1
Stories
5
Units
25
Listing Agency:
GREA
Listed By:
Ken Wellar · License #PA 10401252368
Source:
Crexi
Added: Mar 12
Changed: Oct 4
Last Checked: Oct 14 at 10:49PM
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 multifamily property provides consistent cash flow with zero historical vacancy, making it a prime 1031-exchange candidate. A value-add opportunity exists in the Year 2 $360k rent push, leveraging its position in a high-barrier-to-entry submarket. The building, located at 40th & Chestnut, features modern interiors and rare underground parking. The location is considered "Main & Main" for University City retail and dining, ensuring it remains a top choice for students seeking an urban lifestyle. 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 34924 square feet.
Key Highlights
- Consistent cash flow with zero historical vacancy.
- Prime "Main & Main" location in University City for retail and dining.
- Value‑add opportunity with a Year 2 $360k rent increase.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$549,338
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,986,760
$11.0M
Cap Rate 7%
$7,847,686
$7.8M
Cap Rate 9%
$6,103,756
$6.1M
Market Conditions
NOI Build-Up for 34,924 SF
Gross rent
$1.06M $30.36/SF
− Vacancy
−$61.5K −$1.76/SF
EGI
$998.8K $28.60/SF
− OpEx
−$449.5K −$12.87/SF
NOI
$549.3K $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 Rate 5%
$10,986,760
Cap Rate 7%
$7,847,686
Cap Rate 9%
$6,103,756
Alternative Uses
Best Use
Apartment 5plus
$7.85M
$6.87M – $9.16M
NOI $549,338 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$8.51M
$7.45M – $9.93M
NOI $595,974 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,663
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 - 25-unit, 70-bed multifamily property with consistent cash flow.
Where is this apartment building located?
The property is located at 4046 Chestnut St Philadelphia, PA.
What is the asking price?
The asking price for this property is $12,950,000.
What are key features of this property?
This property features: Consistent cash flow with zero historical vacancy.; Prime "Main & Main" location in University City for retail and dining.; Value‑add opportunity with a Year 2 $360k rent increase.
