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Philadelphia,PA 19138
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 6,454 sqft
Price per Sqft $224
Subdivision West Oak Lane
MLS Listing ID PAPH2531290
HOA Y/N Y
Year Built 1925
Annual Tax Amount $9,734
Tax Year 2026
Lot Size 0.298 Acres
Acres 0.3
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Presenting the opportunity to acquire 7092 Forrest Avenue, a 12-unit multi-family building located in the West Oak Lane neighborhood of Northwest Philadelphia.
This offering presents a stable, cash-flowing asset with a strong mix of voucher-backed income and master leased units. The building includes all 12 one-bedroom, one-bathroom units. Of these, two units are market rate, six are leased to PHA voucher tenants, and four are leased to 1260 Housing, a non-profit that pays rent under a master lease structure and subleases to qualified residents. This master lease provides consistent collections and streamlined management. Units 101 and 102 are in the process of getting rental increases with PHA to $1,250. The current average rent is $1,205. Ownership also replaced the roof this year, upgraded the common areas with new trim, paint, and carpeting, and maintained appliances as needed.
Located in West Oak Lane, 7092 Forrest Avenue offers residents a quiet, residential setting while remaining highly connected to the rest of the city. The property is within a 10-minute drive of SEPTA's Chestnut Hill East Regional Rail line (Sedgwick Station), providing a direct route to Center City Philadelphia. Multiple SEPTA bus routes, including the H, 6, and 18 lines, also service the area, while nearby corridors like Cheltenham Avenue, Stenton Avenue, and Lincoln Drive offer convenient access to retail, services, and major highways such as Route 309 and I-76. The surrounding neighborhood features a mix of tree-lined streets, local schools, shopping centers, and healthcare facilities, supporting strong long-term rental demand
Location
State PA
County Philadelphia
Area 19138 (19138)
Zoning RSA5
Interior
Hot Water Electric
Heating Baseboard - Hot Water
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Pets Allowed Y
Tax ID 881451130
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash,Conventional,Negotiable
Listing Terms Cash,Conventional,Negotiable
Financing Cash,Conventional,Negotiable
Special Listing Condition Standard
Pets Allowed Case by Case Basis