Renovated Four-Unit Apartment
New
For Sale
$675,000
4942 CHESTNUT STREET, Philadelphia, PA 19139
Occupied apartments feature individually managed electric service and a shared coin-operated laundry in the basement.
Property Size2,765 SF
Days on Market4
Property Features for 4942 CHESTNUT STREET
General Information
Standard status
Active
Size
2,765 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$2,659
Building Details
Building Size
2,765 SF
Year Built
1925
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Peter van der Vlugt · License #RS374437
(484) 431-8821
Source:
Patmckennarealtors
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 3:22PM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
This three-story Philadelphia property contains four occupied apartments: a bi-level 4BR/2BA with private outdoor space, a studio with bay windows, a 1BR, and a 2BR with a private third-floor deck. Improvements include a replacement roof, upgraded major building systems, hardwood floors, and refreshed kitchens and baths. Electric service is managed separately for each unit. Residents also have access to a shared coin-operated laundry in the basement. Built in 1925, the property has a 7.72% in-place cap rate and most of its 10-year tax abatement remaining.
At 4942 Chestnut Street in University City, the property is near Penn, Drexel, major medical institutions, public transportation, restaurants, retail, and neighborhood amenities.
At 4942 Chestnut Street in University City, the property is near Penn, Drexel, major medical institutions, public transportation, restaurants, retail, and neighborhood amenities.
Key Highlights
- Four occupied units: bi‑level 4BR/2BA, studio, 1BR, and 2BR
- Three‑story building constructed in 1925
- 7.72% in‑place cap rate; most of the 10‑year tax abatement remains
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
$47,184
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
6.99%
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%
$943,680
$943.7K
Cap Rate 7%
$674,057
$674.1K
Cap Rate 9%
$524,267
$524.3K
Market Conditions
NOI Build-Up for 2,765 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
$71.3K $25.80/SF
− Vacancy
−$3.9K −$1.42/SF
EGI
$67.4K $24.38/SF
− OpEx
−$20.2K −$7.31/SF
NOI
$47.2K $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%
$943,680
Cap Rate 7%
$674,057
Cap Rate 9%
$524,267
Alternative Uses
Best Use
Multifamily LT 5
$674.1K
$589.8K – $786.4K
NOI $47,184 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$621.3K
$543.7K – $724.9K
NOI $43,492 @ 7.0% cap · market cap 6.44%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,339
Businesses Nearby
Explore this area
Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Occupied apartments feature individually managed electric service and a shared coin-operated laundry in the basement.
Where is this quadplex located?
The property is located at 4942 CHESTNUT STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Four occupied units: bi‑level 4BR/2BA, studio, 1BR, and 2BR; Three‑story building constructed in 1925; 7.72% in‑place cap rate; most of the 10‑year tax abatement remains
