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$2,375,000
Listing Price6beds
--baths
3,876sqft
1,615sqft lot
4123 Westminster Ave, Philadelphia, PA 19104
Member Features
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Full foreclosure details
Home value, equity and ownership info
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For Sale
Home type
Price / sqft
Year built
Home Details
412327 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.nnThe 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.nnAt 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.nnInvestment Highlightsn*12-Unit Multifamily Assetn*7.10% In-Place Cap Raten*7.80% Stabilized Cap Raten*Average Unit Size: 750 SFn*Below-Market Rents with Immediate Upsiden*Total Rentable SF: 9,000 SFn*Average Rent: $1,562 vs. $1,691 Marketn*10-year Tax Abatementn*In-Place NOI: $168,566n*Stabilized NOI: $185,250n*Strong In-Place Cash Flow with Value-Add Potential
Interior Details
3876
6
N/A
Has Heating:
Yes
Heating Type:
Yes
Has Cooling:
Yes
Cooling Type:
Central
Has Fuel:
No
Fuel Type:
N/A
Has Basement:
No
Basement Type:
Full
Has Flooring:
No
Flooring Type:
N/A
Has Fireplace:
Yes
Fireplace Type:
N/A
Property Details
1615
No
Yes
Type:
N/A
Location:
N/A
Status:
N/A
Number of Spaces:
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Construction Details
Modern
N/A
N/A
N/A
N/A
Tax History
Year
Amount
Land
Improvement
Percent Change
Assessment
2020
$121
$8,700
$0
--%
$8,700
2019
$121
$8,700
$0
--%
$8,700
2018
$121
$8,700
$0
--%
$8,700
2017
$121
$8,700
$0
--%
$8,700
2016
$90
$6,500
$0
--%
$6,500
2014
$87
$6,500
$0
--%
$6,500
2013
$34
$352
$0
--%
$352
Average Home Price in 19104
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Bath
Sqft
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Sold Date
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