Trophy Commercial Real Estate is pleased to present 919–921 Lombard Street, a six-unit multifamily investment located in the heart of Washington Square West, one of Philadelphia’s most established and supply-constrained residential neighborhoods.

The property consists of six oversized residential units totaling approximately 6,900 rentable square feet, with an average unit size of roughly 1,150 square feet. Several units feature bi-level, townhouse-style layouts, offering tenants exceptional interior space, privacy, and functional separation—an increasingly rare offering in Center City multifamily assets.

The asset is fully occupied and operating with strong in-place cash flow, generating an in-place NOI of approximately $149,523. With modest rent growth and normalization to market rents, the property offers a clear path to increased yield, projecting a stabilized NOI of approximately $167,936. Operating expenses remain efficient at roughly 20% of effective gross income, supporting durable long-term performance.

Situated just steps from Washington Square Park, Society Hill, and Center City employment nodes, 919–921 Lombard Street benefits from exceptional walkability, historic character, and consistent rental demand driven by limited new supply and high barriers to entry. The combination of large unit sizes, prime urban infill location, and stable operations positions this asset as an attractive opportunity for investors seeking both immediate income and long-term appreciation.

Investment Highlights

• Prime Washington Square West Location: Positioned in one of Philadelphia’s most supply-constrained and desirable Center City neighborhoods, steps from Washington Square Park and Society Hill.

• Stabilized 6-Unit Multifamily Asset: Fully occupied property totaling approximately 6,900 rentable square feet with durable in-place cash flow.

• Large, Townhouse-Style Unit Layouts: Oversized units averaging ~1,150 SF, including bi-level layouts that offer enhanced livability and tenant retention.

• Strong In-Place Income with Upside: In-place NOI of approximately $149,523 with projected rent growth to a stabilized NOI of ~$167,936.

• Efficient Operating Profile: Operating expenses of approximately 20% of effective gross income, supporting strong margins and long-term performance.

• Compelling Urban Infill Investment: High barriers to entry, limited new supply, and consistent tenant demand drive long-term value appreciation.

  Asking Price: $2,150,000
  Price per Unit: $358,333
  Price per SF: $311.59
  Cap Rate: 6.95%