4501-3 FRANKFORD AVE Philadelphia, PA 19124
4,942 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Subdivision Frankford
MLS Listing ID PAPH2565998
Year Built 1935
Annual Tax Amount $7,348
Tax Year 2025
Lot Size 4,942 Sqft
Acres 0.11
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Asking Price: $1,500,000
Prime investment opportunity in the heart of Frankford! This 12-unit, CMX-2 zoned mixed-use building consists of 10 residential apartments and 2 ground-floor retail storefronts, generating a strong combined rental income of approximately $12,200 per month.
This stabilized, income-producing asset offers reliable cash flow in a rapidly developing commercial corridor. Both retail spaces benefit from excellent visibility and foot traffic, while the residential units remain in steady demand.
Property Highlights
Address: 4501-03 Frankford Ave, Philadelphia, PA 19124
Asking Price: $1,500,000
Zoning: CMX-2
Total Units: 12 (10 apartments + 2 retail storefronts)
Monthly Income: ≈ $12,200
Annual Gross Income: ≈ $146,400
Real Estate Taxes: $7,348/year
Unit Mix: Variety of studio and 1-bedroom units (confirm as needed)
Occupancy: Fully occupied with stable tenants
Retail Tenants: Established businesses on active leases
Buyer responsible for conducting their own due diligence
Property being sold strictly in as-is condition
Seller makes no warranties regarding zoning, condition, or permitted uses
Proof of funds or pre-approval required with all offers
Do Not Disturb Tenants — Showings require advance notice
Financial Snapshot
Gross Annual Income: $146,400
Taxes: $7,348
Approx. Net Operating Income (NOI*): $139,052
*NOI based solely on taxes provided; additional expenses would modify this figure.
Cap Rate at $1,500,000
Cap Rate = NOI ÷ Purchase Price = 139,052 ÷ 1,500,000 ≈ 9.27%
→ Approx. Cap Rate: 9.3%
Location
State PA
County Philadelphia
Area 19124 (19124)
Zoning CMX2
Interior
Hot Water Natural Gas
Heating Other
Cooling Other
Heat Source Natural Gas, Electric
Exterior
Utilities Available Water Available, Sewer Available, Natural Gas Available, Electric Available
Water Access N
Accessibility None
Garage N
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 232487300
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA, Negotiable, Seller Financing
Listing Terms Cash, Conventional, FHA, Negotiable, Seller Financing
Financing Cash,Conventional,FHA,Negotiable,Seller Financing
Special Listing Condition Standard
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