UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,032 sqft
Price per Sqft $243
MLS Listing ID PAPH2646188
Style Other
Abv Grd Liv Area 5,032
Year Built 2025
Annual Tax Amount $100
Tax Year 2025
Lot Size 2,795 Sqft
Acres 0.06
Lot Dimensions 16.00 x 95.00
Property Sub-Type Other
Source BRIGHT
Property Description
The property currently generates $8,992 in monthly gross income, totaling $107,904 in annual gross income. Based on the provided expenses, the property produces an estimated annual NOI of approximately $101,808–$101,908, in-place cap rate of 8%.
The commercial space is leased at $2,250 per month on a 5-year lease with 3% annual increases, providing investors with stable income and built-in rent growth. Residential rents include Unit A at $1,150/month, Unit B at $1,692/month, Unit C at $1,300/month, Unit D at $1,300/month, and Unit E at $1,300/month.
Property Highlights:
• Mixed-use investment with commercial and residential income
• Six income-producing spaces
• Current monthly gross income: $8,992
• Annual gross income: $107,904
• Estimated NOI: approximately $101,808–$101,908
• 5-year commercial lease with 3% annual increases
• Tax abatement in place
• Potential 1031 tax-deferred exchange opportunity
929 N 40th Street is positioned as an attractive opportunity for investors seeking cash flow, stability, and long-term upside in Philadelphia. The combination of residential income and a long-term commercial lease creates multiple revenue streams and added income security.
This property may also be a strong option for investors looking to complete a 1031.
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning CMX1
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Fireplace N
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Private Pool No
Building
Above Ground Finished SqFt 5032
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction Y
Schools
School District Philadelphia City
Others
Tax ID 881000914
Ownership Fee Simple
SqFt Source 5032
Special Listing Condition Standard
Nearby Locations
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