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4046-48 Chestnut St 4046-4048 Chestnut St 25 Unit Apartment Building $12,950,000 ($518,000/Unit) 6.30% Cap Rate Philadelphia, PA 19104
Executive Summary
Mirroring its sister property, this 25-unit, 70-bed asset provides consistent cash flow with zero historical vacancy. It is a prime 1031-exchange candidate. The value-add opportunity lies in the Year 2 $360k rent push, leveraging its position in a high-barrier-to-entry submarket.
Located at 40th & Chestnut, the building offers modern interiors and rare underground parking. The location is "Main & Main" for University City retail and dining, ensuring it remains a top choice for students seeking an urban lifestyle.
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.
Located at 40th & Chestnut, the building offers modern interiors and rare underground parking. The location is "Main & Main" for University City retail and dining, ensuring it remains a top choice for students seeking an urban lifestyle.
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 | $12,950,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $518,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.30% | Building Size | 34,924 SF |
| No. Units | 25 | Average Occupancy | 92% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 2017 |
| Zoning | CMX4 - Commercial mixed Use | ||
| Price | $12,950,000 |
| Price Per Unit | $518,000 |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 34,924 SF |
| Average Occupancy | 92% |
| No. Stories | 5 |
| Year Built | 2017 |
| Zoning | CMX4 - Commercial mixed Use |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Carpet
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Public Transportation
- Roommate Matching
- Smoke Detector
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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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4046-48 Chestnut St | 4046-4048 Chestnut St
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