2,795 Sqft Lot
2,795 Sqft Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision Parkside
MLS Listing ID PAPH2593190
Year Built 2025
Annual Tax Amount $100
Tax Year 2024
Lot Size 2,795 Sqft
Acres 0.06
Lot Dimensions 16.00 x 95.00
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
The property currently generates $8,992 in monthly gross income, totaling $107,904 in annual gross income. Based on the provided expenses, the property produces an estimated annual NOI of approximately $101,808–$101,908, in-place cap rate of 8%.
The commercial space is leased at $2,250 per month on a 5-year lease with 3% annual increases, providing investors with stable income and built-in rent growth. Residential rents include Unit A at $1,150/month, Unit B at $1,692/month, Unit C at $1,300/month, Unit D at $1,300/month, and Unit E at $1,300/month.
Property Highlights:
• Mixed-use investment with commercial and residential income
• Six income-producing spaces
• Current monthly gross income: $8,992
• Annual gross income: $107,904
• Estimated NOI: approximately $101,808–$101,908
• 5-year commercial lease with 3% annual increases
• Tax abatement in place
• Potential 1031 tax-deferred exchange opportunity
929 N 40th Street is positioned as an attractive opportunity for investors seeking cash flow, stability, and long-term upside in Philadelphia. The combination of residential income and a long-term commercial lease creates multiple revenue streams and added income security.
This property may also be a strong option for investors looking to complete a 1031.
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning CMX1
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Flooring Luxury Vinyl Plank
Heat Source Electric
Exterior
Garage Spaces 1.0
Water Access N
View City
Accessibility None
Total Parking Spaces 1
Garage N
Building
Lot Description Corner
Sewer Public Sewer
Water Public
New Construction Y
Schools
School District Philadelphia City
Others
Tax ID 243237400
Ownership Fee Simple
Special Listing Condition Standard
Nearby Locations
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