409 S 42nd St 409-413 S 42nd St 34 Unit Apartment Building $4,950,000 ($145,588/Unit) 6.30% Cap Rate Philadelphia, PA 19104

Global Real Estate Advisors (GREA) extends to well-qualified investors the unique opportunity to acquire the fee simple interest in 409–413 South 42nd Street, a multifamily asset located in the highly desirable Spruce Hill neighborhood of University City in West Philadelphia. The Property is positioned along South 42nd Street, a vibrant commercial corridor known for its walkable amenities, restaurants, bars, cafes, and neighborhood retail. The location provides immediate access to the University of Pennsylvania, Drexel University, and the surrounding University City district, one of the most dynamic and rapidly growing submarkets in Philadelphia.
The Property consists of 34 apartment units featuring a mix of 14 studio, 15 one-bedroom, and 5 two-bedroom floor plans. The units benefit from strong rental demand driven by the Property’s proximity to major educational and medical institutions, including the University of Pennsylvania, Drexel University, Penn Medicine, and the Children’s Hospital of Philadelphia. The Property is currently 100% occupied, demonstrating strong tenant demand within the submarket. University City continues to experience significant investment and institutional growth, supporting long-term housing demand within the submarket. The Property presents a value-add opportunity for new ownership to increase rents through strategic renovations and operational improvements. Upgrades to kitchens, bathrooms, and common areas will allow ownership to further enhance the quality of the units and capture 75% rental upside.
409–413 South 42nd Street is located minutes from major transportation infrastructure, providing convenient access throughout the Philadelphia region, and is also within walking distance of popular Clark Park. Residents benefit from proximity to Interstate 76 (Schuylkill Expressway), Interstate 676, and major arterial roads connecting to Center City and surrounding neighborhoods. Public transportation is readily accessible with SEPTA bus routes, trolley lines, and regional rail stations located nearby, allowing for direct connectivity to Center City Philadelphia and other employment centers throughout the region.
The Asset is well-positioned to serve a growing tenant base seeking high-quality housing within walking distance of some of the nation’s leading universities and medical institutions. University City, Philadelphia, continues to attract students, medical professionals, researchers, and young professionals due to its concentration of employment, education, and neighborhood amenities, making the area one of the region’s strongest rental markets.