Trophy Commercial Real Estate, LLC (“Trophy”) is pleased to present 329 N 40th Street, a six-unit multifamily investment opportunity located in Philadelphia. Offered at $1,600,000, the property was built in 2018 and totals approximately 7,000 rentable square feet, with an average unit size of approximately 1,167 square feet.

The property features a differentiated mix of two 2-bedroom / 2-bathroom units, two 3-bedroom / 2-bathroom units, one 5-bedroom / 5-bathroom unit, and one 5-bedroom / 4-bathroom unit. Current rents range from $1,500 to $3,100 per month, generating $12,500 in monthly scheduled rent and $150,000 annually.

The asset generates $122,201 in current Net Operating Income, representing a 7.64% going-in capitalization rate at the asking price. Year 1 underwriting projects Gross Scheduled Rent of $162,410 and NOI of $129,838, resulting in an 8.11% Year 1 capitalization rate.

At approximately $266,667 per unit and $228.57 per rentable square foot, 329 N 40th Street provides investors with immediate cash flow, newer construction, oversized residential layouts, and additional income growth potential within the University City area.

Investment Highlights:

• STRONG IN-PLACE YIELD | Current NOI of $122,201 represents a 7.64% going-in cap rate, providing attractive cash flow from acquisition.

• LARGE MULTI-BEDROOM UNIT MIX | The property features units ranging from two to five bedrooms, including two oversized 1,700-square-foot five-bedroom residences, creating a differentiated residential offering.

• NEWER CONSTRUCTION | Built in 2018, the property offers a newer multifamily product relative to much of the surrounding Philadelphia rental inventory.

• YEAR 1 INCOME GROWTH | Year 1 underwriting projects NOI increasing to $129,838, resulting in an 8.11% Year 1 cap rate and an 8.15% cash-on-cash return at the asking price.

• EFFICIENT OPERATING PROFILE | Current operating expenses total $24,050, representing approximately 16.4% of Effective Gross Income, supporting strong conversion of rental revenue to NOI.

• RENTAL UPSIDE | Current scheduled rents average $2,083 per unit, compared with potential rents averaging approximately $2,190 per unit, providing identifiable near-term revenue upside.

Price: $1,600,000
Price/Unit: $266,667
Price Per SF: $228.57
Current Cap Rate: 7.64%