4-Unit
New
For Sale
$975,000
616 N 42ND STREET, Philadelphia, PA 19104
Built in 2021, the property includes two one-bedroom apartments, two two-bedroom apartments, and an existing tax abatement.
Property Size3,066 SF
Days on Market6
Property Features for 616 N 42ND STREET
General Information
Standard status
Active
Size
3,066 SF
Property subtype
Quadruplex
Units
Unit Mix
2 x 1BR, 2 x 2BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,800
Building Details
Building Size
3,066 SF
Year Built
2021
Listing Agency:
Keller Williams Main Line
Listed By:
Denise A Frazier · License #AB067937
(215) 421-3362
Source:
Patmckennarealtors
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 16 at 3:54PM
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 Keller Williams Main Line
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-unit residential property was built in 2021 and contains two one-bedroom apartments and two two-bedroom apartments. An existing tax abatement is also in place.
The property is in Philadelphia, with access to public transportation, universities, neighborhood amenities, and major routes described as part of its surrounding context.
The property is in Philadelphia, with access to public transportation, universities, neighborhood amenities, and major routes described as part of its surrounding context.
Key Highlights
- Four residential units: two one‑bedroom apartments and two two‑bedroom apartments
- Built in 2021
- Existing tax abatement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,321
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,046,420
$1.0M
Cap Rate 7%
$747,443
$747.4K
Cap Rate 9%
$581,344
$581.3K
Market Conditions
NOI Build-Up for 3,066 SF
Gross rent
$79.1K $25.80/SF
− Vacancy
−$4.4K −$1.42/SF
EGI
$74.7K $24.38/SF
− OpEx
−$22.4K −$7.31/SF
NOI
$52.3K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,046,420
Cap Rate 7%
$747,443
Cap Rate 9%
$581,344
Alternative Uses
Best Use
Multifamily LT 5
$747.4K
$654.0K – $872.0K
NOI $52,321 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$689.0K
$602.8K – $803.8K
NOI $48,227 @ 7.0% cap · market cap 4.95%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,513
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Built in 2021, the property includes two one-bedroom apartments, two two-bedroom apartments, and an existing tax abatement.
Where is this quadplex located?
The property is located at 616 N 42ND STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Four residential units: two one‑bedroom apartments and two two‑bedroom apartments; Built in 2021; Existing tax abatement
