24-Unit Multifamily
For Sale
$4,500,000
6066 E ROOSEVELT Boulevard, Philadelphia, PA 19149
Multi-Family, PHILADELPHIA, PA
Property Size1,552 SF
Lot Size0.69 Acres
Price / SF$2,899
Days on Market300
Property Features for 6066 E ROOSEVELT Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
30
Parking features
Offsite, Garage - Detached, On Street, Driveway, Garage - Attached
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,552 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Annual Amount
60712
Utilities
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s), Multi Units, Ceiling Fan(s), Central Air
Building Details
Year built
1940
Number of units
4
Building materials
Masonry
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Kyra L. Brinson · License #RS332546
(201) 774-0019
Added: Nov 13, 2025
Changed: Sep 3
Last Checked: Sep 9 at 3:06AM
MLS# PAPH2559042
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily offering includes a 24-unit residential portfolio distributed across Philadelphia areas including Mayfair, Oxford Circle, Frankford, Tacony, Lawncrest, and West Philadelphia. The package may be acquired as a whole, by neighborhood group, or through select individual purchases, subject to offer terms. The mix includes occupied rentals, month-to-month tenancies, and vacant units. Exterior drive-by inspections are permitted, while interior showings are arranged after an accepted offer to accommodate residents.
The property record identifies 0.69 acres and 1,552 square feet, with masonry construction dating to 1940. Parking includes attached and detached garages, driveway, on-street, and off-site options. Heating is hot water, while cooling includes central air, window units, ceiling fans, and multiple-unit systems. Management may remain in place, and the stabilized portfolio is projected at an estimated 8–10% cap rate.
The property record identifies 0.69 acres and 1,552 square feet, with masonry construction dating to 1940. Parking includes attached and detached garages, driveway, on-street, and off-site options. Heating is hot water, while cooling includes central air, window units, ceiling fans, and multiple-unit systems. Management may remain in place, and the stabilized portfolio is projected at an estimated 8–10% cap rate.
Key Highlights
- 24‑unit residential portfolio spanning Mayfair, Oxford Circle, Frankford, Tacony, Lawncrest, and West Philadelphia
- Acquisition options include the full package, neighborhood groupings, or select individual properties
- 0.69 acres with 1,552 square feet identified in the property record
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
$208,009
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
4.62%
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%
$4,160,180
$4.2M
Cap Rate 7%
$2,971,557
$3.0M
Cap Rate 9%
$2,311,211
$2.3M
Market Conditions
NOI Build-Up for 1,552 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
$391.1K $252.00/SF
− Vacancy
−$12.9K −$8.32/SF
EGI
$378.2K $243.68/SF
− OpEx
−$170.2K −$109.66/SF
NOI
$208.0K $134.03/SF
Area
ZIP 19149
Vacancy
3.30%
Lease Rate
$252.00 /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%
$4,160,180
Cap Rate 7%
$2,971,557
Cap Rate 9%
$2,311,211
Alternative Uses
Best Use
Apartment 5plus
$2.97M
$2.60M – $3.47M
NOI $208,009 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
1,144
Businesses Nearby
Explore this area
Business Placement
Demographics for 19149, PA
60,408
Population
20,810
Households
2.9
Avg Household Size
33
Median Age
15%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
25,170
Density / Sq Mi
$54,679
Median Household Income
$33,111
Median Earnings
$1,484
Median Rent
$198,200
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?
Multifamily property - Masonry residential portfolio with varied parking, cooling, and tenant occupancy across Philadelphia rental submarkets.
Where is this multifamily property located?
The property is located at 6066 E ROOSEVELT Boulevard Philadelphia, PA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 24‑unit residential portfolio spanning Mayfair, Oxford Circle, Frankford, Tacony, Lawncrest, and West Philadelphia; Acquisition options include the full package, neighborhood groupings, or select individual properties; 0.69 acres with 1,552 square feet identified in the property record
