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40th & Chestnut 4042 Chestnut St 25 Unit Apartment Building $12,850,000 ($514,000/Unit) 6.10% Cap Rate Philadelphia, PA 19104
Executive Summary
A trophy 25-unit, 70-bed elevator building in University City. Adjacent to the local police station and within the UPenn Security Zone, this asset offers unmatched safety credentials. The investment strategy is a "Core" play, capturing the high-end UPenn and USciences demographic.
This mid-rise at 40th & Chestnut Streets features three-bedroom/three-bath layouts averaging 1,000 SF. Building amenities include a parking garage, keyless entry, and hardwood floors throughout. It is 0.3 miles from the Market-Frankford Line subway station.
University City is recognized as a regional leader in science and Innovation, featuring distinguished universities and hospitals. The neighborhood spans 2.4 square miles and accommodates over 50,000 residents, alongside 85,000 jobs in various sectors, including medicine, higher education, real estate, technology, and hospitality.
University City offers extensive real estate development opportunities and provides some of the region's best transportation infrastructure, including highly accessible bicycle and pedestrian thoroughfares. This prominent section of the City stands as a cultural destination and transportation hub, as well as an employment center that supports significant development projects and advances in life sciences.
With a diverse population, varied housing and rental options, exceptional educational institutions and medical facilities, and a wide array of amenities, University City is considered one of Philadelphia’s premier neighborhoods and is well-positioned to address both current and future needs.
This mid-rise at 40th & Chestnut Streets features three-bedroom/three-bath layouts averaging 1,000 SF. Building amenities include a parking garage, keyless entry, and hardwood floors throughout. It is 0.3 miles from the Market-Frankford Line subway station.
University City is recognized as a regional leader in science and Innovation, featuring distinguished universities and hospitals. The neighborhood spans 2.4 square miles and accommodates over 50,000 residents, alongside 85,000 jobs in various sectors, including medicine, higher education, real estate, technology, and hospitality.
University City offers extensive real estate development opportunities and provides some of the region's best transportation infrastructure, including highly accessible bicycle and pedestrian thoroughfares. This prominent section of the City stands as a cultural destination and transportation hub, as well as an employment center that supports significant development projects and advances in life sciences.
With a diverse population, varied housing and rental options, exceptional educational institutions and medical facilities, and a wide array of amenities, University City is considered one of Philadelphia’s premier neighborhoods and is well-positioned to address both current and future needs.
Property Facts
| Price | $12,850,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $514,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6.10% | Building Size | 30,200 SF |
| No. Units | 25 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 2017 |
| Property Subtype | Apartment | ||
| Zoning | CMX4 - Commercial Mixed Use | ||
| Price | $12,850,000 |
| Price Per Unit | $514,000 |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 30,200 SF |
| No. Stories | 5 |
| Year Built | 2017 |
| Zoning | CMX4 - Commercial Mixed Use |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Refrigerator
- Oven
- Range
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Security System
- Video Patrol
- Shuttle To Campus
- Key Fob Entry
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Exceptionally walkable
100/100
Moderately drivable
70/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 881602505 | Improvements Assessment | $5,858,370 |
| Land Assessment | $650,930 | Total Assessment | $6,509,300 |
Property Taxes
Parcel Number
881602505
Land Assessment
$650,930
Improvements Assessment
$5,858,370
Total Assessment
$6,509,300
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