$1,188,250
 $6,379 est/mo Sourced by Back At You

929 N 40th St,PHILADELPHIA, PA 19104

PHILADELPHIA, PA 19104

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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.

Details

MLS #PAPH2673176
Listing TypeFor Sale
Sub-TypeNew Construction
StatusActive-bright
Year2025
Days On Site43
Listing Provided ByKeller Williams Liberty Place | Alyce Gerhardt

Features

SQ Feet5,032
Units4
ZoningCMX1
Acreage0.06

Interior

CoolingCentral A/C
Heating Yes / NoYes
HeatingForced Air

Exterior

Construction MaterialsBrick

Parking

Garage Yes / NoNo

Taxes

Tax Annual Amount100

Area Information

StatePA
CountyPHILADELPHIA PA
CityPHILADELPHIA
Zip Code19104
Area19104 (19104)
School DistrictPHILADELPHIA CITY
Listing VS Median (in 19104)
Price:
$1,188,250
low | high
Med:
$3,655
100% of Average
sqft:
5,032
low | high
Med:
1,736
100% of Average
$ / sqft:
$236
low | high
Med:
$3
100% of Average
On site:
43
low | high
Med:
107
40.18691588785% of Average
Sourced by Back At You

Market Activity 19104

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Learn More About This Property

Pat Foley

Pat Foley

Class Harlan Real Estate

RS139911A (215) 350-2721patfoleyrealtor@gmail.com
StatePA
CountyPHILADELPHIA PA
CityPHILADELPHIA
Zip Code19104
Area19104 (19104)
School DistrictPHILADELPHIA CITY
Listing VS Median (in 19104)
Price:
$1,188,250
low | high
Med:
$3,655
100% of Average
sqft:
5,032
low | high
Med:
1,736
100% of Average
$ / sqft:
$236
low | high
Med:
$3
100% of Average
On site:
43
low | high
Med:
107
40.18691588785% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $891K - $1.485M
sqft: 3,500 - 6,000
Nearby Listings Property ImageNearby Listings Details
929 N 40TH ST Property Photo 1
$1,188,250
929 N 40th St
Philadelphia, PA 19104
Listing Updated: October 3, 2026 at 1:51:09 PM PDT