Garden-Style Multifamily Apartment
9400 Roosevelt Boulevard Philadelphia, PA 19115
9400 Roosevelt Boulevard, Philadelphia, PA, 19115
Contact for pricing
For Sale
Contact for pricing
33-unit garden-style apartment property with ample off-street parking and primarily one-bedroom apartments.
Property Size22,650 SF
Price / SF$229.58
Days on Market22
Property Features for 9400 Roosevelt Boulevard
General Information
- Standard status
- Active
- Size
- 22,650 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1962
Listing agency
GREA
Listed by
Christopher Farmer · License #RS331174
Source
Crexi
Added: Jul 1 Updated: Jul 21 at 2:08AM Checked: Jul 21 at 9:06AM
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 GREA
Investment Insights
Based on property information with market context.
Michner Pointe Apartments is a 33-unit garden-style apartment community built in 1962. The property includes three brick apartment buildings and an apartment mix that is primarily one-bedroom units. Off-street parking is available on site, and the property is currently maintained at 100% occupancy.
Located along Roosevelt Boulevard (Route 1) in the Bustleton section of Northeast Philadelphia, the community provides immediate access to multiple area highways and major roadways, including Interstate-95, Interstate-276, and Interstate-295. Transit options nearby include SEPTA bus routes 1, 14, and 19, as well as the Torresdale Regional Rail Station.
For buyers seeking stabilized multifamily income with room for operational improvements, the property is positioned for continued apartment renovations and ongoing management enhancements.
Located along Roosevelt Boulevard (Route 1) in the Bustleton section of Northeast Philadelphia, the community provides immediate access to multiple area highways and major roadways, including Interstate-95, Interstate-276, and Interstate-295. Transit options nearby include SEPTA bus routes 1, 14, and 19, as well as the Torresdale Regional Rail Station.
For buyers seeking stabilized multifamily income with room for operational improvements, the property is positioned for continued apartment renovations and ongoing management enhancements.
Key Highlights
- 33‑unit garden‑style apartment community built in 1962, consisting of three brick apartment buildings
- Primarily one‑bedroom apartments with 100% current occupancy
- Ample off‑street parking for tenants
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 | $687.7k | $30.36 |
| − Vacancy | −$39.9k | −$1.76 |
| EGI | $647.8k | $28.60 |
| − OpEx | −$291.5k | −$12.87 |
| NOI | $356.3k | $15.73 |
22,650 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$5.09M
$4.45M – $5.94M
NOI $356,274 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.52M
$4.83M – $6.44M
NOI $386,520 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Michner Pointe Apartments
Real Estate Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 33-unit garden-style apartment property with ample off-street parking and primarily one-bedroom apartments.
Where is this apartment building located?
The property is located at 9400 Roosevelt Boulevard Philadelphia, PA.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: 33‑unit garden‑style apartment community built in 1962, consisting of three brick apartment buildings; Primarily one‑bedroom apartments with 100% current occupancy; Ample off‑street parking for tenants
