6-Unit Mixed-Use Income
For Sale
$1,188,250
929 N 40th Street, Philadelphia, PA 19104
Six-unit mixed-use building with five residential units and a leased commercial storefront, all currently rented.
Property Size5,032 SF
Price / SF$236.14
Days on Market141
Property Features for 929 N 40th Street
General Information
Standard status
Active
Size
5,032 SF
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Site & Location
Neighborhood
East Parkside
Additional Details
Multifamily Units
5
Building Details
Year Built
2025
Listing Agency:
Keller Williams Liberty Place
Listed By:
Alyce Gerhardt
(570) 690-8064
Source:
Deepcreeklake
Added: Jun 7
Changed: Oct 23
Last Checked: Oct 24 at 10:36PM
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 Liberty Place
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Investment Insights
Based on property information with market context.
This 6-unit mixed-use income property includes five residential units and a commercial storefront that is leased. The building currently has all units rented. The commercial portion features contractual rent escalations, helping support ongoing income over time.
The property is located at 929 N 40th Street in Philadelphia, PA 19104.
Built as new construction with tax abatement, this asset combines residential rental income with leased retail space within the same property.
The property is located at 929 N 40th Street in Philadelphia, PA 19104.
Built as new construction with tax abatement, this asset combines residential rental income with leased retail space within the same property.
Key Highlights
- 6‑unit mixed‑use property built in 2025 with five residential units and a commercial storefront
- All units are currently rented, offering occupancy at purchase
- Commercial storefront is leased, providing a second income stream alongside the residential units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,151
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,583,020
$1.6M
Cap Rate 7%
$1,130,729
$1.1M
Cap Rate 9%
$879,456
$879.5K
Market Conditions
NOI Build-Up for 5,032 SF
Gross rent
$152.8K $30.36/SF
− Vacancy
−$8.9K −$1.76/SF
EGI
$143.9K $28.60/SF
− OpEx
−$64.8K −$12.87/SF
NOI
$79.2K $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%
$1,583,020
Cap Rate 7%
$1,130,729
Cap Rate 9%
$879,456
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$989.4K – $1.32M
NOI $79,151 @ 7.0% cap · market cap 6.66%
Second Best
Retail
$812.5K
$710.9K – $947.9K
NOI $56,873 @ 7.0% cap · market cap 4.79%
Theoretical Best
Multifamily LT 5
$1.23M
$1.07M – $1.43M
NOI $85,871 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
869
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit mixed-use building with five residential units and a leased commercial storefront, all currently rented.
Where is this apartment building located?
The property is located at 929 N 40th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,188,250.
What are key features of this property?
This property features: 6‑unit mixed‑use property built in 2025 with five residential units and a commercial storefront; All units are currently rented, offering occupancy at purchase; Commercial storefront is leased, providing a second income stream alongside the residential units
