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5352-54 Cedar Ave 5352 Cedar Ave 6 Unit Apartment Building $1,225,000 ($204,167/Unit) 7.62% Cap Rate Philadelphia, PA 19143
Investment Highlights
- Delivered fully vacant — full control of lease-up and rent roll
- Large unit layouts including 3-bedroom units with outdoor space
- Proximity to University City and Center City employment centers
- 10-year tax abatement — reduced operating costs during stabilization
- Positioned directly across from PHMC Public Health Campus
- Value-add / lease-up opportunity in established West Philadelphia submarket Cedar Park/ Cobbs Creek
Executive Summary
5352–54 Cedar Avenue presents a fully renovated, turnkey 6-unit multifamily opportunity located on the border of Cedar Park and Cobbs Creek in West Philadelphia. Offered at a newly adjusted price of $1,225,000, the property delivers an attractive projected return with immediate lease-up potential in one of the city’s strongest rental corridors.
The building consists of two 3-bedroom, 2-bath units, three 2-bedroom units, and one 1-bedroom unit, all renovated with modern finishes including hardwood flooring, recessed lighting, stainless steel appliances, updated kitchens and baths, and in-unit laundry. The property is fully electric with separately metered utilities and minimal anticipated near-term capital expenditures.
First-floor units feature private rear yard spaces, a highly desirable amenity uncommon in comparable multifamily assets. Additional improvements include updated mechanical systems, sprinkler system, fire alarm system, modernized common areas, and covered front porches overlooking Cedar Avenue.
Delivered fully vacant, investors have the ability to immediately stabilize the asset at projected market rents without legacy tenancy issues. The property also benefits from a 10-year tax abatement with phased step-up structure, creating substantial early-year tax savings and improved cash flow.
Positioned directly across from the PHMC Public Health Campus and within close proximity to University City, major hospitals, Center City access, public transportation, Clark Park, Baltimore Avenue retail, and neighborhood dining, the property is well situated for long-term rental demand and appreciation.
The building consists of two 3-bedroom, 2-bath units, three 2-bedroom units, and one 1-bedroom unit, all renovated with modern finishes including hardwood flooring, recessed lighting, stainless steel appliances, updated kitchens and baths, and in-unit laundry. The property is fully electric with separately metered utilities and minimal anticipated near-term capital expenditures.
First-floor units feature private rear yard spaces, a highly desirable amenity uncommon in comparable multifamily assets. Additional improvements include updated mechanical systems, sprinkler system, fire alarm system, modernized common areas, and covered front porches overlooking Cedar Avenue.
Delivered fully vacant, investors have the ability to immediately stabilize the asset at projected market rents without legacy tenancy issues. The property also benefits from a 10-year tax abatement with phased step-up structure, creating substantial early-year tax savings and improved cash flow.
Positioned directly across from the PHMC Public Health Campus and within close proximity to University City, major hospitals, Center City access, public transportation, Clark Park, Baltimore Avenue retail, and neighborhood dining, the property is well situated for long-term rental demand and appreciation.
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$131,400
|
$19.47
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,570
|
$0.97
|
| Effective Gross Income |
$124,830
|
$18.49
|
| Taxes |
$7,410
|
$1.10
|
| Operating Expenses |
$24,076
|
$3.57
|
| Total Expenses |
$31,486
|
$4.66
|
| Net Operating Income |
$93,344
|
$13.83
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $131,400 |
| Annual Per SF | $19.47 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $6,570 |
| Annual Per SF | $0.97 |
| Effective Gross Income | |
|---|---|
| Annual | $124,830 |
| Annual Per SF | $18.49 |
| Taxes | |
|---|---|
| Annual | $7,410 |
| Annual Per SF | $1.10 |
| Operating Expenses | |
|---|---|
| Annual | $24,076 |
| Annual Per SF | $3.57 |
| Total Expenses | |
|---|---|
| Annual | $31,486 |
| Annual Per SF | $4.66 |
| Net Operating Income | |
|---|---|
| Annual | $93,344 |
| Annual Per SF | $13.83 |
Property Facts
| Price | $1,225,000 | Apartment Style | Low-Rise |
| Price Per Unit | $204,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 7.62% | Building Size | 4,840 SF |
| No. Units | 6 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1945/2026 |
| Zoning | RM1 - Zoning supports current use with potential for density up to allowable limits subject to code | ||
| Price | $1,225,000 |
| Price Per Unit | $204,167 |
| Sale Type | Investment |
| Cap Rate | 7.62% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 4,840 SF |
| Average Occupancy | 0% |
| No. Stories | 3 |
| Year Built/Renovated | 1945/2026 |
| Zoning | RM1 - Zoning supports current use with potential for density up to allowable limits subject to code |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Hardwood Floors
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Range
- Tub/Shower
- Yard
- Basement
- Breakfast Nook
- Dining Room
- Double Pane Windows
- Framed Mirrors
- Freezer
- Garden
- Handrails
- Island Kitchen
- Porch
- Window Coverings
Site Amenities
- Individual Locking Bedrooms
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 2 | $2,300 | - |
| 2+1 | 3 | $1,700 | - |
| 1+1 | 1 | $1,450 | - |
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Exceptionally walkable
100/100
Fairly drivable
40/100
Strong public transit
80/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 881450860 | Total Assessment | $529,400 |
| Land Assessment | $52,900 | Annual Taxes | $7,410 ($1.53/SF) |
| Improvements Assessment | $476,500 | Tax Year | 2026 |
Property Taxes
Parcel Number
881450860
Land Assessment
$52,900
Improvements Assessment
$476,500
Total Assessment
$529,400
Annual Taxes
$7,410 ($1.53/SF)
Tax Year
2026
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5352-54 Cedar Ave | 5352 Cedar Ave