Five-Unit Apartment
For Sale
$1,999,000
4059 BARING ST, Philadelphia, PA 19104
Furnished five-unit property with contemporary finishes, monitored fire protection, and camera security.
Property Size7,465 SF
Price / SF$267.78
Days on Market176
Property Features for 4059 BARING ST
General Information
Standard status
Active
Size
7,465 SF
Additional Details
Furnished
Yes
Public Transit
Yes
Sprinkler System
Yes
Multifamily Units
5
Amenities
fire alarm monitoring
camera security system
Building Details
Buildings
1
Listing Agency:
Empower Real Estate, LLC
(302) 738-2300
Listed By:
Ashwin Rashatwar · License #1756480
(609) 509-8484
Source:
Opal-realestate
Added: Mar 13
Changed: Aug 31
Last Checked: Sep 2 at 2:05AM
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 Empower Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 2019, this 7,465 sq. ft. apartment building contains five units with 15 beds, 12 full baths, and 2 half baths. The property is furnished and features quartz counters, stainless steel appliances, white cabinetry, and bamboo hardwood flooring. Fire sprinklers, fire alarm monitoring, and an exterior camera security system are also installed. RSA5 zoning applies to the property.
The building is located near the University of Pennsylvania, Drexel University, and Market-Frankford Line transit. Five years of real estate tax abatement remain. Its Philadelphia location and multi-unit configuration provide a defined residential income property format for review.
The building is located near the University of Pennsylvania, Drexel University, and Market-Frankford Line transit. Five years of real estate tax abatement remain. Its Philadelphia location and multi-unit configuration provide a defined residential income property format for review.
Key Highlights
- 7,465 sq. ft. building with 5 units
- 15 beds, 12 full baths, and 2 half baths
- Built in 2019 and offered furnished
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
$117,421
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
5.87%
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%
$2,348,420
$2.3M
Cap Rate 7%
$1,677,443
$1.7M
Cap Rate 9%
$1,304,678
$1.3M
Market Conditions
NOI Build-Up for 7,465 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
$226.6K $30.36/SF
− Vacancy
−$13.1K −$1.76/SF
EGI
$213.5K $28.60/SF
− OpEx
−$96.1K −$12.87/SF
NOI
$117.4K $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%
$2,348,420
Cap Rate 7%
$1,677,443
Cap Rate 9%
$1,304,678
Alternative Uses
Best Use
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,421 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.82M
$1.59M – $2.12M
NOI $127,389 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
4,616
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 - Furnished five-unit property with contemporary finishes, monitored fire protection, and camera security.
Where is this apartment building located?
The property is located at 4059 BARING ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: 7,465 sq. ft. building with 5 units; 15 beds, 12 full baths, and 2 half baths; Built in 2019 and offered furnished
