12-Unit Multifamily with Tax
For Sale
$2,375,000
4123 Westminster Avenue, Philadelphia, PA 19104
Twelve-unit West Philadelphia multifamily with a balanced 1- and 2-bedroom mix and a 10-year tax abatement.
Property Size3,876 SF
Price / SF$612.75
Days on Market178
Property Features for 4123 Westminster Avenue
General Information
Standard status
Active
Size
3,876 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Cap Rate
7.1%
Multifamily Units
12
Building Details
Year Built
2023
Listing Agency:
Trophy Commercial Real Estate LLC
(215) 608-5745
Listed By:
Saam Tashayyod · License #RM425803
Source:
Deepcreeklake
Added: Feb 16
Changed: Aug 12
Last Checked: Aug 12 at 3:14AM
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 LLC
Investment Insights
Based on property information with market context.
4123–27 Westminster Avenue is a 12-unit multifamily investment featuring a balanced mix of six 1-bedroom units and six 2-bedroom units. The property is described as having an efficient, straightforward layout with a consistent unit configuration, with units averaging approximately 750 square feet each.
The asset is in year 1 of a full 10-year tax abatement. Based on the seller’s figures, the property is delivering an in-place Net Operating Income of approximately $168,566, equating to a 7.10% cap rate. The remarks also project the ability to reach a stabilized NOI of approximately $185,250 (7.80% cap) through mark-to-market leasing, citing below-market rents versus market levels.
With an in-place unit mix that supports a broad tenant base and an efficient management approach, this property is presented as a value-add opportunity centered on leasing up to market rent while benefiting from the tax abatement in place.
The asset is in year 1 of a full 10-year tax abatement. Based on the seller’s figures, the property is delivering an in-place Net Operating Income of approximately $168,566, equating to a 7.10% cap rate. The remarks also project the ability to reach a stabilized NOI of approximately $185,250 (7.80% cap) through mark-to-market leasing, citing below-market rents versus market levels.
With an in-place unit mix that supports a broad tenant base and an efficient management approach, this property is presented as a value-add opportunity centered on leasing up to market rent while benefiting from the tax abatement in place.
Key Highlights
- 12‑unit multifamily in West Philadelphia, built in 2023
- Balanced unit mix: six 1‑bedroom and six 2‑bedroom units, averaging ~750 SF per unit
- Financial highlights: ~7.10% in‑place cap rate ($168,566 NOI) and ~7.80% stabilized cap rate ($185,250 NOI)
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,162
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 - Twelve-unit West Philadelphia multifamily with a balanced 1- and 2-bedroom mix and a 10-year tax abatement.
Where is this apartment building located?
The property is located at 4123 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: 12‑unit multifamily in West Philadelphia, built in 2023; Balanced unit mix: six 1‑bedroom and six 2‑bedroom units, averaging ~750 SF per unit; Financial highlights: ~7.10% in‑place cap rate ($168,566 NOI) and ~7.80% stabilized cap rate ($185,250 NOI)
