$1,188,250

Property Description

929 N 40th Street presents a strong mixed-use investment opportunity with immediate cash flow, diversified income, and built-in rent growth. This property features six income-producing spaces, including one commercial unit and five residential units. 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.

Property Facts & Features

Property Type

Multi Family

Status

Active

Listed

Sep 21, 2026

Price per Sq Ft

$236/sqft

ZIP Code

19104

Parking

On Street

Heating

Forced Air

Cooling

Central A/C

Construction

Brick

Property Tax (2026)

$8,677/yr

Assessed Value

$619,900

Last Sold

$3,000 · Oct 9, 2006

Neighborhood

West Philadelphia

County

Philadelphia

School District

The School District of Philadelphia

Estimated Value

Automated estimate. Not an appraisal.

Features & Amenities

Location

Lat 39.97193 · Lng -75.20359