Multifamily Property in East
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4139 West Girard Avenue, Philadelphia, PA 19104
Multifamily property in a rapidly developing Philadelphia neighborhood.
Property Size3,111 SF
Price / SF$210.54
Days on Market95
Property Features for 4139 West Girard Avenue
General Information
Standard status
Active
Size
3,111 SF
Class
C
Property subtype
Multifamily
Zoning
RSA-5
Net Operating Income
$45,941
Building Details
Year Built
1915
Year Renovated
2021
Buildings
1
Units
5
Listing Agency:
MPN Realty, Inc.
(215) 315-3326
Listed By:
Samantha Miller · License #RS352351
Source:
Crexi
Added: May 12
Changed: Aug 8
Last Checked: Aug 7 at 10:52AM
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 MPN Realty, Inc.
Investment Insights
Based on property information with market context.
Located in the East Parkside neighborhood of Philadelphia, 4139 W Girard Ave is a three-story multifamily property with 3,111 square feet of space. The building contains five residential units: three 1-bedroom/1-bath units, one 2-bedroom/2-bath unit, and one studio unit. The property is situated in a rapidly developing area near Fairmount Park and Center City. East Parkside is experiencing increased investor interest due to strong rental demand and neighborhood growth, supported by its convenient commuter location. Buyers are responsible for use and occupancy and rental licenses, reinstating the building permits, and coordinating the final close-out inspections to secure the CO.
Key Highlights
- Multifamily property featuring five residential units.
- Located in Philadelphia's rapidly developing East Parkside neighborhood.
- Close proximity to Fairmount Park and Center City.
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
$48,935
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
7.47%
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%
$978,700
$978.7K
Cap Rate 7%
$699,071
$699.1K
Cap Rate 9%
$543,722
$543.7K
Market Conditions
NOI Build-Up for 3,111 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
$94.4K $30.36/SF
− Vacancy
−$5.5K −$1.76/SF
EGI
$89.0K $28.60/SF
− OpEx
−$40.0K −$12.87/SF
NOI
$48.9K $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%
$978,700
Cap Rate 7%
$699,071
Cap Rate 9%
$543,722
Alternative Uses
Best Use
Apartment 5plus
$699.1K
$611.7K – $815.6K
NOI $48,935 @ 7.0% cap · market cap 7.47%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$758.4K
$663.6K – $884.8K
NOI $53,089 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
734
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 - Multifamily property in a rapidly developing Philadelphia neighborhood.
Where is this apartment building located?
The property is located at 4139 West Girard Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $655,000.
What are key features of this property?
This property features: Multifamily property featuring five residential units.; Located in Philadelphia's rapidly developing East Parkside neighborhood.; Close proximity to Fairmount Park and Center City.
