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400 E Vernon 400 E Vernon Rd 7 Unit Apartment Building $1,169,000 ($167,000/Unit) 7.05% Cap Rate Philadelphia, PA 19119
INVESTMENT HIGHLIGHTS
- Fully Renovated Interior - Kitchens/ Baths/ Floors
- Appropriately Zoned / C/O issued from City of Philadelphia
- Cash Flowing and Value Add Potential (Garage / Exterior)
- Similar Properties Adjacent to Subject Property
EXECUTIVE SUMMARY
Call to view! This fully occupied 7-unit multifamily property offers immediate cash flow and peace of mind with a fully renovated interior throughout. Located in the desirable Mt. Airy neighborhood of Philadelphia, each unit has been thoughtfully updated with modern finishes, new flooring, kitchens, baths, and mechanical systems. Tenants enjoy a comfortable and stylish living space, while investors benefit from low maintenance and strong rental demand in this sought-after area. Minutes from public transportation, shops, and restaurants. Perfect for both seasoned and new investors seeking a stable, income-generating asset in a prime location. Potential sits in updating the exterior and receiving an income from the two car detached garage.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$100,980
|
$28.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$100,980
|
$28.85
|
| Taxes |
$6,077
|
$1.74
|
| Operating Expenses |
$12,483
|
$3.57
|
| Total Expenses |
$18,560
|
$5.30
|
| Net Operating Income |
$82,420
|
$23.55
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $100,980 |
| Annual Per SF | $28.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $100,980 |
| Annual Per SF | $28.85 |
| Taxes | |
|---|---|
| Annual | $6,077 |
| Annual Per SF | $1.74 |
| Operating Expenses | |
|---|---|
| Annual | $12,483 |
| Annual Per SF | $3.57 |
| Total Expenses | |
|---|---|
| Annual | $18,560 |
| Annual Per SF | $5.30 |
| Net Operating Income | |
|---|---|
| Annual | $82,420 |
| Annual Per SF | $23.55 |
PROPERTY FACTS
| Price | $1,169,000 | Property Subtype | Apartment |
| Price Per Unit | $167,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 7.05% | Building Size | 3,500 SF |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1920 |
| Zoning | RSA5 - C/O from the City of Philadelphia was issued and approved for a 7 unit dwelling. | ||
| Price | $1,169,000 |
| Price Per Unit | $167,000 |
| Sale Type | Investment |
| Cap Rate | 7.05% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.28 AC |
| Building Size | 3,500 SF |
| No. Stories | 3 |
| Year Built | 1920 |
| Zoning | RSA5 - C/O from the City of Philadelphia was issued and approved for a 7 unit dwelling. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | $1,175 | - |
| Studios | 1 | $1,020 | - |
| 2+1 | 1 | $1,400 | - |
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Walk Score®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 881210003 | Total Assessment | $434,200 (2026) |
| Land Assessment | $130,260 (2026) | Annual Taxes | $6,077 ($1.74/SF) |
| Improvements Assessment | $303,940 (2026) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
881210003
Land Assessment
$130,260 (2026)
Improvements Assessment
$303,940 (2026)
Total Assessment
$434,200 (2026)
Annual Taxes
$6,077 ($1.74/SF)
Tax Year
2024
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400 E Vernon | 400 E Vernon Rd
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