West Philadelphia Multifamily Investment
4123-27 Westminster Avenue Philadelphia, PA 19104
4123-27 Westminster Avenue, Philadelphia, PA, 19104
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For Sale
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Pending
12-unit multifamily property in West Philadelphia with tax abatement.
Property Size9,000 SF
Days on Market69
Property Features for 4123-27 Westminster Avenue
General Information
- Standard status
- Pending
- Size
- 9,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2024
Listing Agency
Trophy Commercial Real Estate
Listed by
Saam Tashayyod · License #PA RM425803
Source
Crexi
Added: May 11 Checked: Jul 17 at 4:32 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 Trophy Commercial Real Estate
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).
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.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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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).
