West Philadelphia Multifamily Investment
For Sale
Contact for pricing
Pending
4123-27 Westminster Avenue, Philadelphia, PA 19104
12-unit multifamily property in West Philadelphia with tax abatement.
Property Size9,000 SF
Days on Market167
Property Features for 4123-27 Westminster Avenue
General Information
Standard status
Pending
Size
9,000 SF
Property subtype
Multifamily
Occupancy
95%
Investment Type
Value Add
Site & Location
Neighborhood
Belmont
Building Details
Year Built
2024
Units
12
Tenancy
Multi
Listing Agency:
Trophy Commercial Real Estate
Listed By:
Saam Tashayyod · License #PA RM425803
(215) 608-5745
Source:
Crexi
Added: May 11
Changed: Oct 8
Last Checked: Oct 23 at 5:32AM
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
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Investment Insights
Based on property information with market context.
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.
Key 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).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$141,566
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,831,320
$2.8M
Cap Rate 7%
$2,022,371
$2.0M
Cap Rate 9%
$1,572,956
$1.6M
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$273.2K $30.36/SF
− Vacancy
−$15.8K −$1.76/SF
EGI
$257.4K $28.60/SF
− OpEx
−$115.8K −$12.87/SF
NOI
$141.6K $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%
$2,831,320
Cap Rate 7%
$2,022,371
Cap Rate 9%
$1,572,956
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,133
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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).
