6-Unit Mixed-Use Income
929 N 40th Street Philadelphia, PA 19104
For Sale
$1,265,000
Six-unit mixed-use building with five residential units and a leased commercial storefront, all currently rented.
Property Size5,032 SF
Price / SF$251.39
Days on Market19
Property Features for 929 N 40th Street
General Information
- Standard status
- Active
- Size
- 5,032 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 2025
Listing Agency:
Keller Williams Liberty Place
(570) 690-8064
Listed By:
Alyce Gerhardt
Source:
Deepcreeklake
Added: Jul 7
Changed: Jul 25
Last Checked: Jul 25 at 2:27AM
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
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 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 | $152.8k | $30.36 |
| − Vacancy | −$8.9k | −$1.76 |
| EGI | $143.9k | $28.60 |
| − OpEx | −$64.8k | −$12.87 |
| NOI | $79.2k | $15.73 |
5,032 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$989.4K – $1.32M
NOI $79,151 @ 7.0% cap · market cap 6.26%
Second Best
Retail
$812.5K
$710.9K – $947.9K
NOI $56,873 @ 7.0% cap · market cap 4.50%
Theoretical Best
Multifamily LT 5
$1.23M
$1.07M – $1.43M
NOI $85,871 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
FAQs
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 $1,265,000.
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
