12-Unit Apartment Building
For Sale
$783,333
5982 Henry Ave, Philadelphia, PA 19128
Three-building package with unit-level utilities, storage, laundry, and private garages.
Property Size3,192 SF
Price / SF$245.41
Days on Market24
Property Features for 5982 Henry Ave
General Information
Standard status
Active
Size
3,192 SF
Total Parking Spaces
12
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
8 x 2BR, 4 x 1BR
Multifamily Units
12
Additional Details
Asking Price
$2,350,000
Public Transit
Yes
Amenities
separate utilities
dedicated storage
in-building washer/dryer
Building Details
Year Built
1930
Buildings
3
Listing Agency:
Coldwell Banker Realty
Listed By:
Keith M Stallone · License #RS326084
(267) 606-8502
Source:
Upgradebymichaud
Added: Aug 12
Changed: Aug 28
Last Checked: Sep 1 at 11:04PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 12-unit apartment package comprises three buildings at 5982 Henry Ave in Philadelphia. The unit mix includes eight two-bedroom apartments and four one-bedroom apartments. Each unit has separate utilities, dedicated storage, in-building washer/dryer access, and its own one-car garage. The buildings date to 1930.
All units are occupied, rents are current, and City of Philadelphia licenses are up to date. The property provides access to Manayunk, Wissahickon Park, Center City, the Main Line, and public transit. The three buildings are offered together as one package.
All units are occupied, rents are current, and City of Philadelphia licenses are up to date. The property provides access to Manayunk, Wissahickon Park, Center City, the Main Line, and public transit. The three buildings are offered together as one package.
Key Highlights
- 12 units across a 3‑building package
- Unit mix includes eight 2‑bedroom and four 1‑bedroom apartments
- Each unit includes separate utilities and dedicated storage
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
$50,209
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
6.41%
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%
$1,004,180
$1.0M
Cap Rate 7%
$717,271
$717.3K
Cap Rate 9%
$557,878
$557.9K
Market Conditions
NOI Build-Up for 3,192 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
$96.9K $30.36/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$91.3K $28.60/SF
− OpEx
−$41.1K −$12.87/SF
NOI
$50.2K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /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%
$1,004,180
Cap Rate 7%
$717,271
Cap Rate 9%
$557,878
Alternative Uses
Best Use
Apartment 5plus
$717.3K
$627.6K – $836.8K
NOI $50,209 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$778.2K
$680.9K – $907.9K
NOI $54,471 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
968
Businesses Nearby
Explore this area
Business Placement
Demographics for 19128, PA
36,808
Population
19,006
Households
1.9
Avg Household Size
36
Median Age
55%
College-Educated
95%
High-School Grad
7.0 sq mi
ZIP Area
5,258
Density / Sq Mi
$89,639
Median Household Income
$64,861
Median Earnings
$1,563
Median Rent
$330,800
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 - Three-building package with unit-level utilities, storage, laundry, and private garages.
Where is this apartment building located?
The property is located at 5982 Henry Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $783,333.
What are key features of this property?
This property features: 12 units across a 3‑building package; Unit mix includes eight 2‑bedroom and four 1‑bedroom apartments; Each unit includes separate utilities and dedicated storage
