Six-Unit Fully Renovated
517 South 42nd Street Philadelphia, PA 19104
For Sale
$1,495,000
Six-unit multifamily property fully renovated in 2020, featuring 2-bedroom, 2-bath units and rare on-site parking.
Property Size4,625 SF
Price / SF$323.24
Days on Market166
Property Features for 517 South 42nd Street
General Information
- Standard status
- Active
- Size
- 4,625 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1870
Listing Agency:
KW Empower
(215) 783-7779
Listed By:
Steven Onesti · License #RS372317
(215) 783-7779
Source:
Compass
Added: Feb 8
Changed: Jul 23
Last Checked: Jul 23 at 4:32PM
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 KW Empower
Investment Insights
Based on property information with market context.
517 South 42nd Street is a fully renovated six-unit multifamily property. The building’s layout includes spacious units with 2 bedrooms and 2 full bathrooms, supported by a comprehensive renovation completed in 2020. Updates described in the renovation include a newly constructed rear expansion, contemporary finishes, and efficient floor plans. The property is presented as stabilized and turnkey.
The location is described as in University City, within walking distance of University of Pennsylvania, Drexel University, Children’s Hospital of Philadelphia, Saint Joseph’s University City Campus, Hospital of the University of Pennsylvania, and University of the Sciences. Additional noted highlights include rare on-site parking, a tax abatement in place, and an attractive cap rate exceeding 7% based on the listing remarks.
The location is described as in University City, within walking distance of University of Pennsylvania, Drexel University, Children’s Hospital of Philadelphia, Saint Joseph’s University City Campus, Hospital of the University of Pennsylvania, and University of the Sciences. Additional noted highlights include rare on-site parking, a tax abatement in place, and an attractive cap rate exceeding 7% based on the listing remarks.
Key Highlights
- Fully renovated 6‑unit multifamily property with a 2020 renovation, including a newly constructed rear expansion
- Unit mix: six units, each with 2 bedrooms and 2 full bathrooms
- Rare on‑site parking included with the property
Financial Insights For Apartment 5plus
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 | $140.4k | $30.36 |
| − Vacancy | −$8.1k | −$1.76 |
| EGI | $132.3k | $28.60 |
| − OpEx | −$59.5k | −$12.87 |
| NOI | $72.7k | $15.73 |
4,625 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$909.4K – $1.21M
NOI $72,749 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.13M
$986.6K – $1.32M
NOI $78,925 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six-unit multifamily property fully renovated in 2020, featuring 2-bedroom, 2-bath units and rare on-site parking.
Where is this apartment building located?
The property is located at 517 South 42nd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Fully renovated 6‑unit multifamily property with a 2020 renovation, including a newly constructed rear expansion; Unit mix: six units, each with 2 bedrooms and 2 full bathrooms; Rare on‑site parking included with the property
