Renovated
For Sale
$1,300,000
Pending
4220 Baltimore Avenue, Philadelphia, PA 19104
Four modern units include central HVAC, in-unit laundry, and contemporary kitchens with quartz counters.
Property Size3,840 SF
Days on Market309
Property Features for 4220 Baltimore Avenue
General Information
Standard status
Pending
Size
3,840 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/3BA, 1 x 1BR/1BA, 1 x 2BR/2BA, 1 x 4BR/4BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,498
Amenities
No
No Pool
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Keller Williams Main Line
Listed By:
Francis Mangubat · License #RS33379
(302) 423-9007
Source:
Compass
Added: Oct 30, 2025
Changed: Aug 31
Last Checked: Aug 30 at 1:21PM
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 Keller Williams Main Line
Investment Insights
Based on property information with market context.
Located at 4220 Baltimore Avenue in Philadelphia, this renovated quadplex contains four residential units with varied configurations. Unit 1 offers 3 bedrooms and 3 bathrooms and is vacant, while Unit 2 has 1 bedroom and 1 bathroom, Unit 3 has 2 bedrooms and 2 bathrooms, and Unit 4 has 4 bedrooms and 4 bathrooms; the latter three units are leased. Interior finishes include hardwood floors, quartz kitchen countertops, stainless steel appliances, and large islands. Central air conditioning and heating, in-unit laundry, and abundant natural light serve the residences. The property was built in 1930 and is zoned RM1. Its 19104 location places the building near University City, with access to public transportation, I-76, restaurants, and local shops.
Key Highlights
- Four‑unit quadplex with three leased residences and one vacant unit
- Unit mix includes 3BR/3BA, 1BR/1BA, 2BR/2BA, and 4BR/4BA layouts
- Renovated interiors feature hardwood flooring and quartz kitchen countertops
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
$65,529
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
5.04%
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%
$1,310,580
$1.3M
Cap Rate 7%
$936,129
$936.1K
Cap Rate 9%
$728,100
$728.1K
Market Conditions
NOI Build-Up for 3,840 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
$99.1K $25.80/SF
− Vacancy
−$5.5K −$1.42/SF
EGI
$93.6K $24.38/SF
− OpEx
−$28.1K −$7.31/SF
NOI
$65.5K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,310,580
Cap Rate 7%
$936,129
Cap Rate 9%
$728,100
Alternative Uses
Best Use
Multifamily LT 5
$936.1K
$819.1K – $1.09M
NOI $65,529 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$862.9K
$755.0K – $1.01M
NOI $60,401 @ 7.0% cap · market cap 4.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,124
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?
Quadplex - Four modern units include central HVAC, in-unit laundry, and contemporary kitchens with quartz counters.
Where is this quadplex located?
The property is located at 4220 Baltimore Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Four‑unit quadplex with three leased residences and one vacant unit; Unit mix includes 3BR/3BA, 1BR/1BA, 2BR/2BA, and 4BR/4BA layouts; Renovated interiors feature hardwood flooring and quartz kitchen countertops
