929 N 40th St, Philadelphia, PA 19104
Turnkey multifamily property in Philadelphia's University City area.
- Added:
- Mar 15, 2026
- Days on Market:
- 108
- Last Refresh:
- Mar 19 at 11:36 pm
Property Features for 929 N 40th St
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2025
Listing office The Oceanside Realty Team
Listing date Mar 15, 2026
Source Crexi
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 The Oceanside Realty Team
HighLights
- New construction (2025) multifamily property in University City, Philadelphia.
- 10 Year Tax Abatement.
- Located in a Top‑10 USA MSA for rent growth (2026).
- Proximity to major employers and institutions (UPENN, CHOP, HUP, Drexel University, Science Center).
- Minimal OPEX (Operating Expenses).
- Easy access to transportation (Amtrak's 30th Street Station).
Overview
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $151.8k | $30.36 |
| − Vacancy | −$8.8k | −$1.76 |
| EGI | $143.0k | $28.60 |
| − OpEx | −$64.3k | −$12.87 |
| NOI | $78.6k | $15.73 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.2035824
- Latitude
- 39.9718824
