About 929 N 40th St
929 N 40th Street presents a strong mixed-use investment opportunity with immediate cash flow, diversified income, and built-in rent growth. This property features six income-producing spaces, including one commercial unit and five residential units.
The property currently generates $8,992 in monthly gross income, totaling $107,904 in annual gross income. Based on the provided expenses, the property produces an estimated annual NOI of approximately $101,808–$101,908, in-place cap rate of 8%.
The commercial space is leased at $2,250 per month on a 5-year lease with 3% annual increases, providing investors with stable income and built-in rent growth. Residential rents include Unit A at $1,150/month, Unit B at $1,692/month, Unit C at $1,300/month, Unit D at $1,300/month, and Unit E at $1,300/month.
Property Highlights:
• Mixed-use investment with commercial and residential income
• Six income-producing spaces
• Current monthly gross income: $8,992
• Annual gross income: $107,904
• Estimated NOI: approximately $101,808–$101,908
• 5-year commercial lease with 3% annual increases
• Tax abatement in place
• Potential 1031 tax-deferred exchange opportunity
929 N 40th Street is positioned as an attractive opportunity for investors seeking cash flow, stability, and long-term upside in Philadelphia. The combination of residential income and a long-term commercial lease creates multiple revenue streams and added income security.
This property may also be a strong option for investors looking to complete a 1031.
