Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
2025
Sq.Footage
5,032
929 N 40th Street presents a strong mixed-use investment opportunity with immediate cash flow, diversified income, and built-in rent growth. This property features six income-producing spaces, including one commercial unit and five residential units. 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.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Above Grade Finished Area
5032.0
-
Cooling YN
YES
-
Cooling
Central Air, Electric
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Electric, Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Brick
-
Parking
On Street
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.06
-
Lot Size(square feet)
2,795
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
-
Architectural Style
Other
Price
-
Sales Price
$1,225,000
-
Tax Amount
$100
-
Sq. Footage
5,032
-
Price/SqFt
$243
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
New Construction
YES
-
Sewer
Public Sewer
-
Tax Lot
140
-
Water Source
Public
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Location
County
PHILADELPHIA
Elementary School
Middle School
High School
Listing Courtesy of Alyce Gerhardt , Keller Williams Liberty Place
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Owner, Chief Executive Officer, Portfolio Advisor
Nick Polinchock
Call Nick today to schedule a private showing.
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