9-Unit Modern Multifamily
For Sale
$2,999,900
890 N 42ND STREET, Philadelphia, PA 19104
Newer Philadelphia construction offers modern residences, in-unit laundry, rooftop space, and private fenced outdoor areas.
Property Size10,800 SF
Days on Market52
Property Features for 890 N 42ND STREET
General Information
Standard status
Active
Size
10,800 SF
Property subtype
Multi Family
Occupancy
100%
Site & Location
Neighborhood
Belmont
Units
Unit Mix
9 x 3BR/2BA
Multifamily Units
9
Additional Details
Gross Income
$224,412
Taxes and HOA fees
Annual Taxes
$2,617
Amenities
rooftop outdoor space
private and fenced outdoor areas
bicycle storage
additional storage options
Building Details
Building Size
10,800 SF
Year Built
2023
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Reda B Akbil · License #RS337002
(267) 205-1369
Source:
Kingswayrealty
Added: Sep 14
Changed: Nov 4
Last Checked: Nov 3 at 2:57AM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
Constructed in 2023, this Philadelphia multifamily property contains nine residences with a consistent 3-bedroom, 2-bathroom configuration. Apartment interiors include quartz countertops, stainless steel appliances, soft-close cabinetry, luxury vinyl flooring, recessed lighting, tiled bathrooms, central heating and air conditioning, in-unit washers and dryers, and generous closet space. The property also provides rooftop outdoor space, private fenced areas, bicycle storage, and additional storage options.
The building is 100% leased with a rent roll combining Section 8 or other voucher-supported tenancies and market-rate leases. Its location in Philadelphia’s 19104 ZIP code provides access to University City, Fairmount Park, Belmont Plateau, the Philadelphia Museum of Art, Center City, and major educational and employment centers. The surrounding setting also offers access to recreation, transportation, dining, and neighborhood amenities.
The building is 100% leased with a rent roll combining Section 8 or other voucher-supported tenancies and market-rate leases. Its location in Philadelphia’s 19104 ZIP code provides access to University City, Fairmount Park, Belmont Plateau, the Philadelphia Museum of Art, Center City, and major educational and employment centers. The surrounding setting also offers access to recreation, transportation, dining, and neighborhood amenities.
Key Highlights
- 9‑unit multifamily property constructed in 2023
- Each residence offers a 3‑bedroom, 2‑bathroom layout
- 100% leased with Section 8/voucher‑supported and market‑rate tenancies
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$169,879
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,397,580
$3.4M
Cap Rate 7%
$2,426,843
$2.4M
Cap Rate 9%
$1,887,544
$1.9M
Market Conditions
NOI Build-Up for 10,800 SF
Gross rent
$327.9K $30.36/SF
− Vacancy
−$19.0K −$1.76/SF
EGI
$308.9K $28.60/SF
− OpEx
−$139.0K −$12.87/SF
NOI
$169.9K $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 Rate 5%
$3,397,580
Cap Rate 7%
$2,426,843
Cap Rate 9%
$1,887,544
Alternative Uses
Best Use
Apartment 5plus
$2.43M
$2.12M – $2.83M
NOI $169,879 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.63M
$2.30M – $3.07M
NOI $184,301 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
9
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,162
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?
Apartment building - Newer Philadelphia construction offers modern residences, in-unit laundry, rooftop space, and private fenced outdoor areas.
Where is this apartment building located?
The property is located at 890 N 42ND STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,999,900.
What are key features of this property?
This property features: 9‑unit multifamily property constructed in 2023; Each residence offers a 3‑bedroom, 2‑bathroom layout; 100% leased with Section 8/voucher‑supported and market‑rate tenancies
