4-Unit Contemporary
For Sale
$975,000
616 N 42ND Street, Philadelphia, PA 19104
Multi-Family, PHILADELPHIA, PA
Property Size3,066 SF
Lot Size0.04 Acres
Price / SF$318
Days on Market12
Property Features for 616 N 42ND Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Property condition
Under Construction
Rooms
Basement
Subdivision
PHILADELPHIA (WEST)
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
3,066 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2800
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2021
Number of units
2
Building materials
Concrete, Brick, Vinyl Siding
Architectural style
Contemporary
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
Denise A Frazier · License #AB067937
(215) 421-3362
Added: Oct 13
Changed: Oct 23
Last Checked: Oct 24 at 2:06PM
MLS# PAPH2679454
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.
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Investment Insights
Based on property information with market context.
This 2021 contemporary quadplex contains four apartments: two one-bedroom units and two two-bedroom units. The building measures 3,066 square feet on a 0.0397-acre lot. Construction materials include concrete, brick, and vinyl siding; heating is forced air, and cooling is central air. The property also has a basement and an existing tax abatement.
At 616 N 42nd Street in Philadelphia, the property has access to public transportation, neighborhood amenities, universities, and major routes across the city.
At 616 N 42nd Street in Philadelphia, the property has access to public transportation, neighborhood amenities, universities, and major routes across the city.
Key Highlights
- Four apartments: two 1‑bedroom units and two 2‑bedroom units
- 3,066‑square‑foot building on a 0.0397‑acre lot
- Built in 2021; contemporary architectural style
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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,513
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Its apartment mix includes two one-bedroom units and two two-bedroom units, with 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 apartments: two 1‑bedroom units and two 2‑bedroom units; 3,066‑square‑foot building on a 0.0397‑acre lot; Built in 2021; contemporary architectural style
