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    416 Olney Ave Philadelphia, PA 19120

    For Sale
    $450,000

    Mixed-use building, strong cash flow.

    Property size:
    3,627 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This fee-simple mixed-use property in Philadelphia, PA, presents a compelling value-add investment opportunity. The 3,627 square foot building, situated on a 2,744 square foot lot, comprises two structures: a two-story main building and a one-story vacant building. The main building houses one commercial unit currently leased until August 1, 2024, for $1,300 per month, and three residential apartments. Two of the residential units are on month-to-month leases with below-market rent, offering a new owner significant upside potential. One two-bedroom apartment is leased until February 1, 2024, for $800 per month. All tenants express a desire to remain. The vacant building, a 24' x 40' masonry shell, presents an opportunity to add a significant amount of rental income. The property boasts a 10.04% cap rate and a $51,802 net operating income (NOI). Built in 1930, the property features separate utilities (heat, hot water, gas, and electric) for each unit. The property is zoned CMX-1, allowing for various development options. The asking price is $450,000, representing $124.07 per square foot and $90,000 per unit. The land value alone is $164 per square foot. The property has a strong history of 100% occupancy and long-term tenants. This is a solid investment with significant potential for increased profitability through renovations and expansion. Financial projections are available upon request.

    Property Features for 416 Olney Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,627 SF
    Class
    C

    Building Details

    Year Built
    1930
    Buildings
    2
    Stories
    2
    Units
    5

    HighLights

    • Strong cash flow and value‑add potential.
    • Prime location with high visibility and accessibility.
    • Modern, efficient building systems minimizing operating expenses.
    • Significant upside potential through lease‑up or rent increases.
    • Below‑market rents offering immediate return on investment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Untouched Beauty Beauty Salon So Chic Hair ... Hair Salon

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.129523988598
    Latitude
    40.036263138817

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    FAQs

    What type of property is this?
    Multifamily property - Mixed-use building, strong cash flow.
    Where is this multifamily property located?
    The property is located at 416 Olney Ave Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Strong cash flow and value-add potential.; Prime location with high visibility and accessibility.; Modern, efficient building systems minimizing operating expenses.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    416 Olney Ave Philadelphia, PA 19120
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