Other
4123 WESTMINSTER AVENUE
PHILADELPHIA, PA 19104
MLS#: PAPH2622626
$2,375,000
Property
Beds
18
Full Baths
None
1/2 Baths
None
Year Built
2023
Sq.Footage
3,876
4123–27 Westminster Avenue, a 12-unit multifamily investment located in West Philadelphia. The asset consists of a balanced mix of six 1-bedroom units and six 2-bedroom units, averaging approximately 750 square feet per unit, offering an efficient and highly marketable unit mix that appeals to a broad tenant base. The unit mix caters to a broad tenant base, including students, young professionals, and roommate-style renters, resulting in strong leasing demand and operational stability. The asset benefits from a straightforward layout, consistent unit configuration, and efficient property management. The property is in year 1 of the full 10-year tax abatement. At the asking price of $2,375,000, the asset delivers an inplace Net Operating Income of approximately $168,566, equating to a 7.10% cap rate, with the ability to achieve a stabilized NOI of approximately $185,250 (7.80% cap) through mark-to-market leasing. Investment Highlights *12-Unit Multifamily Asset *7.10% In-Place Cap Rate *7.80% Stabilized Cap Rate *Average Unit Size: 750 SF *Below-Market Rents with Immediate Upside *Total Rentable SF: 9,000 SF *Average Rent: $1,562 vs. $1,691 Market *10-year Tax Abatement *In-Place NOI: $168,566 *Stabilized NOI: $185,250 *Strong In-Place Cash Flow with Value-Add Potential
Features & Amenities
Interior
-
Total Bedrooms
18
-
Bathrooms
N/A
-
Above Grade Finished Area
3876.0
-
Cooling YN
YES
-
Cooling
Central Air
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Natural Gas, Other
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Parking
On Street, Driveway, Other
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.04
-
Lot Size(square feet)
1615.0
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
-
Architectural Style
Other
Price
-
Sales Price
$2,375,000
-
Tax Amount
$1,595
-
Sq. Footage
3, 876
-
Price/SqFt
$612
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
New Construction
NO
-
Sewer
Other
-
Tax Lot
53
-
Water Source
Other
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Location
County
PHILADELPHIA
Elementary School
Middle School
High School
Listing Courtesy of Saam Tashayyod , Trophy Commercial Real Estate LLC
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Owner, President, Investment Property Advisor
Theresa Kehler
Call Theresa today to schedule a private showing.
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