West Philadelphia Quadplex Investment Opportunity

257 S 46th St, Philadelphia, PA 19139

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For Sale

Contact for pricing

Two quadplexes in coveted location with rental upside.

Type:Multifamily

Property size:

6,000 SF

Price / SF:

$237/SF

HighLights

Located in the highly desirable PENN ALEXANDER school catchment area (Blue Ribbon School Award).
Two side‑by‑side quadplexes (8 total units) offering significant rental upside.
Located in West Philadelphia, with access to the 'Eds & Meds' economy (UPenn, Drexel, CHOP, HUP).
Each building is approximately 3000 SF and features a mix of 2‑bedroom, 1‑bedroom, and studio apartments.
Property boasts tremendous curb appeal and is located on a coveted street.
Value‑add real estate opportunity in a high‑growth marketplace.

We can help!

Listing Contact

PHL

For Sale

Contact for pricing

Two quadplexes in coveted location with rental upside.

Type:Multifamily

Property size:

6,000 SF

Price / SF:

$237/SF

Added:: Sep 9, 2024
Days on Market:: 652
Last Refresh:: May 12 at 9:41 pm

Property Features for 257 S 46th St

General Information

Standard status: Active
Size: 6,000 SF
Property subtype: Multifamily

We can help!

Listing Contact

PHL

Listing agent PHL License #Pennsylvania RS316262

Listing office The Oceanside Realty Team

Listing date Sep 9, 2024

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

Located in the highly desirable PENN ALEXANDER school catchment area (Blue Ribbon School Award).
Two side‑by‑side quadplexes (8 total units) offering significant rental upside.
Located in West Philadelphia, with access to the 'Eds & Meds' economy (UPenn, Drexel, CHOP, HUP).
Each building is approximately 3000 SF and features a mix of 2‑bedroom, 1‑bedroom, and studio apartments.
Property boasts tremendous curb appeal and is located on a coveted street.
Value‑add real estate opportunity in a high‑growth marketplace.

Overview

Located in West Philadelphia, 257 + 259 South 46th Street presents an investment opportunity in a high-growth marketplace. These side-by-side quadplexes, totaling 8 units, offer rental upside and original charm. Each three-story building, approximately 3000 square feet, contains two 2-bedroom apartments, one studio, and one 1-bedroom apartment. The properties are situated on a desirable street and provide access to the "Eds & Meds" economy, a district for jobs, higher education (UPenn and Drexel), healthcare (CHOP, HUP) and innovation (Schuylkill Yards, Science Center). The location in the Penn Alexander School catchment (K-8) may contribute to rental demand.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$154.8k	$25.80
− Vacancy	−$8.5k	−$1.42
EGI	$146.3k	$24.38
− OpEx	−$43.9k	−$7.31
NOI	$102.4k	$17.06

6,000 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$1.46M

$1.28M – $1.71M (±1% cap)

NOI $102,389 @ 7.0% cap · market cap 7.19%

Second Best

Apartment 5plus

$1.35M

$1.18M – $1.57M (±1% cap)

NOI $94,377 @ 7.0% cap · market cap 6.62%

Theoretical Best

—

same as Best Use

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

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Location Insight

Map
Local Demand

City: Philadelphia
County: Delaware
State: Pennsylvania
Longitude: -75.2137513
Latitude: 39.9536095

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For sale
Quadplexes
PA
Philadelphia
19139
257 S 46th St

What type of property is this?

Quadplex - Two quadplexes in coveted location with rental upside.

Where is this quadplex located?

The property is located at 257 S 46th St Philadelphia, PA.

What is the asking price?

The asking price for this property is $1,425,000.

What are key features of this property?

This property features: Located in the highly desirable PENN ALEXANDER school catchment area (Blue Ribbon School Award).; Two side‑by‑side quadplexes (8 total units) offering significant rental upside.; Located in West Philadelphia, with access to the 'Eds & Meds' economy (UPenn, Drexel, CHOP, HUP).