West Philadelphia Multifamily Investment
4123-27 Westminster Avenue, Philadelphia, PA 19104
12-unit multifamily property in West Philadelphia with tax abatement.
Type:Multifamily
Property size:
9,000 SFPrice / SF:
$263/SF- Added:
- May 11, 2026
- Days on Market:
- 24
- Last Refresh:
- May 14 at 9:19 pm
Property Features for 4123-27 Westminster Avenue
General Information
- Standard status
- Active
- Size
- 9,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2024
Listing agent Saam Tashayyod License #PA RM425803
Listing office Trophy Commercial Real Estate
Listing date May 11, 2026
Source Crexi
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 Trophy Commercial Real Estate
HighLights
- Full 10‑year tax abatement in year 1.
- 7.10% cap rate in place with potential to achieve 7.80% through mark‑to‑market leasing.
- New construction (2024).
- 12‑unit multifamily investment property.
- Large 2‑bedroom, 2‑bathroom units averaging 750 square feet.
- Efficient and highly rentable unit mix appealing to a broad tenant base (students, young professionals).
Overview
Located in West Philadelphia, 4123–27 Westminster Avenue is a 12-unit multifamily investment property. The asset features exclusively large 2-bedroom, 2-bathroom units, each averaging approximately 750 square feet. This unit mix is designed to appeal to a diverse tenant base, including students, young professionals, and roommate-style renters. The property benefits from a straightforward layout, consistent unit configuration, and efficient property management. The property is in year 1 of the full 10-year tax abatement. The property has an inplace Net Operating Income of approximately $168,566, equating to a 7.10% cap rate, with the ability to achieve a stabilized NOI of approximately $185,250 (7.80% cap) through mark-to-market leasing. The property has a total size of 9000 square feet.
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 | $273.2k | $30.36 |
| − Vacancy | −$15.8k | −$1.76 |
| EGI | $257.4k | $28.60 |
| − OpEx | −$115.8k | −$12.87 |
| NOI | $141.6k | $15.73 |
9,000 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.02M
$1.77M – $2.36M
NOI $141,566 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.19M
$1.92M – $2.56M
NOI $153,584 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.20661
- Latitude
- 39.97043
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 12-unit multifamily property in West Philadelphia with tax abatement.
Where is this apartment building located?
The property is located at 4123-27 Westminster Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,375,000.
What are key features of this property?
This property features: Full 10‑year tax abatement in year 1.; 7.10% cap rate in place with potential to achieve 7.80% through mark‑to‑market leasing.; New construction (2024).
