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5711 & 5910 Erdrick Street 2 Multifamily Properties Offered at $2,420,000 in Philadelphia, PA
Investment Highlights
- 22 Units in the Wissinoming Neighborhood of Philadelphia
- Excellent Basis: $110K per Unit
- Laundry and Storage Lockers for Tenants in Basements
- Value Add Through Renovations, Average Rent $175 Below Market
- Off-Street Parking Available at Each Property
- Walking Distance to Wissinoming Park & Public Transportation
Executive Summary
Marcus & Millichap is pleased to present for sale two multifamily properties - 5711 & 5910 Erdrick Street, located in the Wissinoming neighborhood of Philadelphia. The properties are located within two blocks of each other. Both properties contain eleven one-bedroom apartments and a laundry room in the basement. Each of the buildings is in very good condition due to the owner’s keen attention to detail.
The City of Philadelphia is home to more than one and a half million people, which makes it the most populated city in Pennsylvania. The properties’ prime location allows for easy access to the nearby stores, restaurants and Septa stations, which provide quick access to Center City Philadelphia.
5711 & 5910 Erdrick Street represent a rare opportunity to acquire an apartment community in the highly desirable Northeast section of the City of Philadelphia. The market average for competing one-bedrooms ($1,193) in the submarkets is 17.3% greater than the average rents of the Subject Properties. The below-market rents allow for investors to come in and make renovations to see a substantial growth in rents.
The City of Philadelphia is home to more than one and a half million people, which makes it the most populated city in Pennsylvania. The properties’ prime location allows for easy access to the nearby stores, restaurants and Septa stations, which provide quick access to Center City Philadelphia.
5711 & 5910 Erdrick Street represent a rare opportunity to acquire an apartment community in the highly desirable Northeast section of the City of Philadelphia. The market average for competing one-bedrooms ($1,193) in the submarkets is 17.3% greater than the average rents of the Subject Properties. The below-market rents allow for investors to come in and make renovations to see a substantial growth in rents.
Data Room Click Here to Access
Taxes & Operating Expenses (Actual - 2025) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
-
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$99,999
|
| Taxes |
-
|
| Operating Expenses |
-
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
Property Facts
| Price | $2,420,000 | Number of Properties | 2 |
| Price / SF | $156.49 / SF | Individually For Sale | 0 |
| Cap Rate | 5.96% | Total Building Size | 15,464 SF |
| Sale Type | Investment | Total Land Area | 0.48 AC |
| Status | Active |
| Price | $2,420,000 |
| Price / SF | $156.49 / SF |
| Cap Rate | 5.96% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 15,464 SF |
| Total Land Area | 0.48 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
5910 Erdrick St
5910 Erdrick St, Philadelphia, PA 19135 |
Multifamily | 8,600 SF | 1963 | - |
|
5711 Erdrick St
5711 Erdrick St, Philadelphia, PA 19135 |
Multifamily | 6,864 SF | 1963 | - |
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5711 & 5910 Erdrick Street
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