919-921 Lombard St - Apartments FOR SALE


Philadelphia, PA 19147- Washington Square West
$2,150,000 USD
215-608-3734
919-921 Lombard St, Philadelphia, PA for Sale
$2,150,000 USD
Apartments - FOR SALE
1/18
null | 6.95% Cap Rate

919-921 Lombard St
Philadelphia, PA 19147
Washington Square West


HIGHLIGHTS

  • PRIME WASHINGTON SQUARE WEST LOCATION One of Philadelphia’s most desirable residential neighborhoods.
  • STRONG IN-PLACE CASH FLOW In-place NOI of approximately $149,523.
  • UPSIDE TO MARKET RENTS Loss-to-lease opportunity with projected rent growth.
  • EFFICIENT OPERATIONS Expenses approximately 20.6% of Effective Gross Income.
  • LARGE UNIT SIZES Average unit size of approximately 1,150 SF.
  • ATTRACTIVE FINANCING PROFILE Strong debt coverage ratios with conventional financing.

OVERVIEW

We are pleased to present the exclusive offering of 919–921 Lombard Street, a six-unit multifamily property located in the highly sought-after Washington Square West submarket of Philadelphia. The property consists of six oversized residential units totaling approximately 6,900 rentable square feet, including several bi-level, townhouse-style layouts that offer exceptional interior space, privacy, and functional separation. The asset is currently operating with strong in-place occupancy and stable cash flow. At the offering price of $2,150,000, the property generates an in-place Net Operating Income of approximately $149,523, equating to a 6.95% cap rate. With upside potential through rent growth and normalization to market rents, the asset is projected to achieve a stabilized NOI of approximately $167,936, representing a 7.81% stabilized cap rate.

FOR SALE DETAILS

PRICE

$2,150,000 USD

PRICE/SF

$326 USD /SF

# OF UNITS

6

PRICE/UNIT

$358,333

CAP RATE

6.95%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

2,879 SF

ZONING

RM-1

APN/PARCEL ID

881511220

ASK ABOUT THIS PROPERTY

Saam TashayyodTrophy Commercial Real EstateMore Info
215-608-3734

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Saam TashayyodTrophy Commercial Real EstateMore Info
215-608-3734

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.