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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.
| DAYS ON MARKET | 3 | LAST UPDATED | 8/3/2026 |
|---|---|---|---|
| TRACT | PARKSIDE | YEAR BUILT | 2025 |
| COMMUNITY | 19104 (19104) | COUNTY | PHILADELPHIA |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| School District | PHILADELPHIA CITY |
|---|
| PRICE HISTORY | |
| Prior to Jun 8, '26 | $1,300,000 |
|---|---|
| Jun 8, '26 - Jun 28, '26 | $1,280,000 |
| Jun 28, '26 - Jul 9, '26 | $1,267,000 |
| Jul 9, '26 - Aug 3, '26 | $1,265,000 |
| Aug 3, '26 - Today | $1,225,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | 19104 (19104) |
| CONSTRUCTION | Brick |
| HEAT | Electric, Forced Air |
| LOT | 2614 sq ft |
| LOT DESCRIPTION | Corner Lot |
| LOT DIMENSIONS | 16.00 x 95.00 |
| PARKING | On Street |
| SEWER | Public Sewer |
| STORIES | 3 |
| SUBDIVISION | PARKSIDE |
| TAXES | 100 |
| VIEW | Yes |
| VIEW DESCRIPTION | City |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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