Trophy Commercial Real Estate is pleased to present 4123–27 Westminster Avenue, a 12-unit multifamily investment located in West Philadelphia.

The property consists entirely of large 2-bedroom, 2-bathroom units totaling approximately 9,000 rentable square feet, with each unit averaging 750 square feet. The consistent unit mix and functional layouts support strong leasing demand from students, young professionals, and roommate-style renters, driving stable occupancy and operational efficiency.

The asset is currently generating strong in-place cash flow with an average rent of approximately $1,562 per unit, while market rents are projected at approximately $1,691 per unit, presenting a clear value-add opportunity through rent normalization.

At the asking price, the property offers a 7.10% in-place cap rate, with the ability to achieve a 7.80% stabilized cap rate through mark-to-market leasing.

Investment Highlights

• 12-Unit stabilized multifamily asset

• 7.10% going-in cap rate

• $168K in-place NOI with upside to $185K

• Average rent: $1,562 | Market rent: $1,691

• 8% rental upside through mark-to-market strategy

• Efficient 2BR / 2BA unit mix (100% consistency)

• 8 years left on the new 10-year tax abatement

The asset consists of 12 large 2-bedroom, 2-bathroom units totaling approximately 9,000 SF of building area, with each unit averaging 750 SF. The uniform layout supports operational efficiency and broad tenant demand from students, professionals, and roommate-style renters. With below-market rents across multiple units, the property presents a straightforward value-add opportunity through lease turnover and rent adjustments.

Price: $2,375,000
Price/Unit: $197,917
Price/SF: $263.89
Cap Rate (In-Place): 7.10%