Mixed-Use Building With 4-Car
421 W OLNEY AVENUE Philadelphia, PA 19120
For Sale
Under Contract
$230,000
MULTI_FAMILY - PHILADELPHIA, PA
Property Size1,460 SF
Price / SF$157.53
Days on Market48
Property Features for 421 W OLNEY AVENUE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Standard status
- Active Under Contract
- Size
- 1,460 SF
Building Details
- Year built
- 1925
Listing Agency:
BHHS Fox & Roach Blue Bell
(215) 542-2200
Listed By:
Benjamin Wong · License #1328097
(215) 806-0988
Added: Jun 6
Changed: Jul 23
Last Checked: Jul 23 at 4:06PM
MLS# PAPH2631084
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use building features three separate income-producing components: a vacant first-floor commercial space, a fully occupied second-floor residential apartment, and a detached 4-car garage located behind the building. The first-floor commercial unit includes direct access to the basement and a separate side entrance. The second-floor residential apartment has its own private side entrance and is currently tenant-occupied.
The property is described as being situated along a major commercial corridor in the Olney/Oak Lane area of North Philadelphia, with the building located one block from 5th Street. The surrounding area is primarily residential housing, and the location provides easy access to Roosevelt Boulevard, Broad Street, and Cheltenham Avenue.
The property is being sold as-is. There is an option noted to have the second-floor tenant out by 60 days after going under contract.
The property is described as being situated along a major commercial corridor in the Olney/Oak Lane area of North Philadelphia, with the building located one block from 5th Street. The surrounding area is primarily residential housing, and the location provides easy access to Roosevelt Boulevard, Broad Street, and Cheltenham Avenue.
The property is being sold as-is. There is an option noted to have the second-floor tenant out by 60 days after going under contract.
Key Highlights
- 3‑unit mixed‑use property built in 1925 at 421 W Olney Ave, North Philadelphia
- First‑floor commercial space is vacant and includes direct access to the basement and a separate side entrance
- Second‑floor residential apartment is currently occupied and has a private side entrance (tenant may be removed within 60 days after going under contract)
Financial Insights For Mixed Use
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 | $22.8k | $15.60 |
| − Vacancy | −$2.7k | −$1.87 |
| EGI | $20.0k | $13.73 |
| − OpEx | −$7.5k | −$5.15 |
| NOI | $12.5k | $8.58 |
1,460 SF · lease $15.60/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$179.0K
$156.6K – $208.8K
NOI $12,527 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$348.8K
$305.2K – $406.9K
NOI $24,413 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dr. Nicholas Truong
Physician
FAQs
What type of property is this?
Mixed-use property - Three-unit mixed-use property with a vacant first-floor commercial space, occupied residential unit, and detached 4-car garage.
Where is this mixed-use property located?
The property is located at 421 W OLNEY AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 3‑unit mixed‑use property built in 1925 at 421 W Olney Ave, North Philadelphia; First‑floor commercial space is vacant and includes direct access to the basement and a separate side entrance; Second‑floor residential apartment is currently occupied and has a private side entrance (tenant may be removed within 60 days after going under contract)
