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The Penn Building 5400 Walnut St 14 Unit Apartment Building $1,500,000 ($107,143/Unit) 7% Cap Rate Philadelphia, PA 19139
Investment Highlights
- Rental Upside: In-Place Rents are $100 to $300 Below Market
- Turnkey Investment Opportunity: Little to No Deferred Maintenance
- High Demand Market: Desirable Rental Market with +95% Occupancy
- Prominent Corner Location: Highly-Visible Location in Walnut Hill Neighborhood
- Qualified Opportunity Zone: Located within a Federal Opportunity Zone
- Proximity to Eds & Meds: UPenn, Drexel, St. Joe's, Penn Medicine, and CHOP
Executive Summary
The Penn Building is a mixed-use apartment community located at 5400 Walnut Street in the desirable Walnut Hill section of West Philadelphia. Situated on a prominent southwest corner with frontage along 54th Street and Walnut Street, the Property consists of ~11,160 square feet and benefits from excellent visibility and accessibility within one of Philadelphia’s strongest rental submarkets.
The Penn Building consists of 14 residential units featuring an attractive unit mix of (5) studio units, (8) one-bedroom apartments, and (1) two-bedroom apartment. The apartments feature open floor plans, modern kitchens with stainless steel appliances, and functional layouts that appeal to the surrounding renter demographic.
The Property offers immediate value-add potential through continued unit upgrades and operational improvements. Current in-place rents remain approximately $100 to $300 below market, providing new ownership with the opportunity to increase revenue and improve overall cash flow. Additionally, the Property includes a fully leased ground-floor commercial space occupied by a long-term grocery tenant, providing stable supplemental income to the asset.
Residents benefit from proximity to several of Philadelphia’s largest educational and medical institutions, including Drexel University, the University of Pennsylvania, Penn Medicine, the Children’s Hospital of Philadelphia, St. Joseph’s University, and the University City Science Center. Further, the Penn Building is conveniently located near regional rail, trolley, and bus lines, in addition to nearby retail, restaurants, and neighborhood amenities throughout West Philadelphia.
The Penn Building presents investors with the opportunity to acquire a well-located mixed-use asset with stable in-place cash flow, meaningful rental upside, and long-term demand drivers supported by the continued growth of University City and West Philadelphia.
The Penn Building consists of 14 residential units featuring an attractive unit mix of (5) studio units, (8) one-bedroom apartments, and (1) two-bedroom apartment. The apartments feature open floor plans, modern kitchens with stainless steel appliances, and functional layouts that appeal to the surrounding renter demographic.
The Property offers immediate value-add potential through continued unit upgrades and operational improvements. Current in-place rents remain approximately $100 to $300 below market, providing new ownership with the opportunity to increase revenue and improve overall cash flow. Additionally, the Property includes a fully leased ground-floor commercial space occupied by a long-term grocery tenant, providing stable supplemental income to the asset.
Residents benefit from proximity to several of Philadelphia’s largest educational and medical institutions, including Drexel University, the University of Pennsylvania, Penn Medicine, the Children’s Hospital of Philadelphia, St. Joseph’s University, and the University City Science Center. Further, the Penn Building is conveniently located near regional rail, trolley, and bus lines, in addition to nearby retail, restaurants, and neighborhood amenities throughout West Philadelphia.
The Penn Building presents investors with the opportunity to acquire a well-located mixed-use asset with stable in-place cash flow, meaningful rental upside, and long-term demand drivers supported by the continued growth of University City and West Philadelphia.
Property Facts
| Price | $1,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $107,143 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 7% | Building Size | 11,160 SF |
| No. Units | 14 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1957/2013 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | CMX-2 - Commercial mixed use | ||
| Price | $1,500,000 |
| Price Per Unit | $107,143 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.09 AC |
| Building Size | 11,160 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1957/2013 |
| Opportunity Zone |
Yes |
| Zoning | CMX-2 - Commercial mixed use |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
1 1
Exceptionally walkable
90/100
Somewhat drivable
30/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 881215412 | Improvements Assessment | $684,180 |
| Land Assessment | $293,220 | Total Assessment | $977,400 |
Property Taxes
Parcel Number
881215412
Land Assessment
$293,220
Improvements Assessment
$684,180
Total Assessment
$977,400
(215) 454-2879
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