Multifamily Community in
5321 Wayne Ave, Philadelphia, PA 19144
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42-unit multifamily property with mark-to-market opportunity in Philadelphia.
Type:Multifamily
Property size:
22,074 SFPrice / SF:
$190/SF- Added:
- Feb 25, 2026
- Days on Market:
- 98
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 5321 Wayne Ave
General Information
- Standard status
- Active
- Size
- 22,074 SF
- Property subtype
- Multifamily
Listing agent Joe Loonstyn License #RS351792
Listing office Scope Investment Real Estate Services (267) 252-0223
Listing date Feb 25, 2026
Source Crexi
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 Scope Investment Real Estate Services
HighLights
- 42‑unit multifamily community in Philadelphia's Germantown.
- Significant rent increase opportunity, potentially generating an additional $41,640 annually.
- Features a mix of efficiency, studio, one‑bedroom, and two‑bedroom apartments.
- Convenient access to public transportation, including Wayne Junction and Queen Lane Regional Rail stations.
- Located near La Salle University, Drexel University College of Medicine Queen Lane campus, and Temple University Health Center.
- Proximity to retail and grocers along Germantown and Wayne Avenues.
Overview
This 42-unit multifamily community is located in the Germantown section of Philadelphia. The property comprises 10 efficiency units, 16 studio units, 12 one-bedroom, one-bathroom units, and four two-bedroom, one-bathroom units. The building is fully electric, featuring electric baseboard heat, window unit air-conditioning, in-unit electric hot-water tanks, and electric cooking. Basement laundry facilities are available for resident use. The owner is responsible for common area electricity, water, and gas, with gas only used for the laundry machines. Units are individually metered for electricity. The property presents a mark-to-market opportunity. Achieving market rents of $995 for efficiencies and studios, $1,175 for one-bedroom, one-bathroom units, and $1,350 for two-bedroom, one-bathroom units could increase scheduled rent to $45,370 per month or $544,440 per year, creating $41,640 in immediate annual upside. Germantown is a historic, walkable Northwest Philadelphia neighborhood centered on Germantown Avenue and served by multiple transit options. The property is situated near Wayne Junction and Queen Lane Regional Rail stations, providing access to Center City and other employment hubs. SEPTA bus routes, including Route 65 on the Germantown–Chelten corridor, also serve the area. Nearby institutions include La Salle University and the Drexel University College of Medicine Queen Lane campus, with Temple University Health Center a short drive away. Daily-needs retail is available along Germantown Avenue and at neighborhood grocers such as Wayne Supermarket on Wayne Avenue.
Local 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 | $670.2k | $30.36 |
| − Vacancy | −$38.9k | −$1.76 |
| EGI | $631.3k | $28.60 |
| − OpEx | −$284.1k | −$12.87 |
| NOI | $347.2k | $15.73 |
22,074 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.96M
$4.34M – $5.79M
NOI $347,213 @ 7.0% cap · market cap 8.27%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.38M
$4.71M – $6.28M
NOI $376,690 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Forever Ready Crochet
Home Decor Store
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.172908
- Latitude
- 40.02868
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 42-unit multifamily property with mark-to-market opportunity in Philadelphia.
Where is this apartment building located?
The property is located at 5321 Wayne Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 42‑unit multifamily community in Philadelphia's Germantown.; Significant rent increase opportunity, potentially generating an additional $41,640 annually.; Features a mix of efficiency, studio, one‑bedroom, and two‑bedroom apartments.
