Renovated 6-Unit Apartment
For Sale
$1,225,000
5352 5352-54 Cedar Ave, Philadelphia, PA 19143
Vacant multifamily property with separately metered electric utilities, in-unit laundry, and updated common areas.
Property Size4,840 SF
Price / SF$253.10
Days on Market25
Property Features for 5352 5352-54 Cedar Ave
General Information
Standard status
Active
Size
4,840 SF
Building Details
Year Built
2026
Listing Agency:
Addison Real Estate Company Inc
Listed By:
Jonathan M Tori · License #RM419819
(267) 688-3791
Source:
Selltheshore
Added: Aug 9
Changed: Aug 29
Last Checked: Sep 1 at 10:13PM
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 Addison Real Estate Company Inc
Investment Insights
Based on property information with market context.
This 4,840-square-foot apartment building contains six units: two 3-bedroom, 2-bath residences, three 2-bedroom residences, and one 1-bedroom residence. The units feature hardwood flooring, recessed lighting, stainless steel appliances, refreshed kitchens and bathrooms, and in-unit laundry. First-floor residences include private rear yard areas, while covered front porches and upgraded common spaces add to the building’s shared amenities. Mechanical systems, fire protection equipment, and the alarm system have also been updated. The property was built in 2026 and is delivered fully vacant.
Located across from the PHMC Public Health Campus, the property is near University City, major hospitals, Center City access, public transportation, Clark Park, Baltimore Avenue retail, and neighborhood dining. Utilities are fully electric and separately metered. A 10-year tax abatement with phased step-up structure is in place.
Located across from the PHMC Public Health Campus, the property is near University City, major hospitals, Center City access, public transportation, Clark Park, Baltimore Avenue retail, and neighborhood dining. Utilities are fully electric and separately metered. A 10-year tax abatement with phased step-up structure is in place.
Key Highlights
- Six‑unit apartment building totaling 4,840 square feet
- Unit mix includes two 3‑bedroom, 2‑bath units, three 2‑bedroom units, and one 1‑bedroom unit
- Fully vacant delivery with private rear yards serving first‑floor units
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
$46,636
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
3.81%
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%
$932,720
$932.7K
Cap Rate 7%
$666,229
$666.2K
Cap Rate 9%
$518,178
$518.2K
Market Conditions
NOI Build-Up for 4,840 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
$91.8K $18.96/SF
− Vacancy
−$7.0K −$1.44/SF
EGI
$84.8K $17.52/SF
− OpEx
−$38.2K −$7.88/SF
NOI
$46.6K $9.64/SF
Area
ZIP 19143
Vacancy
7.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
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%
$932,720
Cap Rate 7%
$666,229
Cap Rate 9%
$518,178
Alternative Uses
Best Use
Apartment 5plus
$666.2K
$583.0K – $777.3K
NOI $46,636 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,123 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,981
Businesses Nearby
Explore this area
Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
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?
Apartment building - Vacant multifamily property with separately metered electric utilities, in-unit laundry, and updated common areas.
Where is this apartment building located?
The property is located at 5352 5352-54 Cedar Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Six‑unit apartment building totaling 4,840 square feet; Unit mix includes two 3‑bedroom, 2‑bath units, three 2‑bedroom units, and one 1‑bedroom unit; Fully vacant delivery with private rear yards serving first‑floor units
