Rick Sanderson Jr

Agent | License ID: 0790603

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Listed by Philip Sharrow • Scope Commercial Real Estate Services, Inc.
Bought with Joseph M. Loonstyn Jr. • Scope Commercial Real Estate Services, Inc.

$ 1,225,000

$ 1,300,000 5.8%

Est. payment -/mo

Sold on 07/21/2026

7092 FORREST AVE Philadelphia, PA 19138

0.3 Acres Lot

UPDATED:

Key Details

Sold Price $1,225,000

Property Type Commercial

Sub Type Five Or More Units

Listing Status Sold

Purchase Type For Sale

Subdivision West Oak Lane

MLS Listing ID PAPH2531290

Sold Date 07/21/26

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

Acceptable Financing Cash, Conventional, Negotiable

Listing Terms Cash, Conventional, Negotiable

Financing Cash,Conventional,Negotiable

Special Listing Condition Standard

Pets Allowed Case by Case Basis

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Rick Sanderson Jr

Agent | License ID: 0790603

+1(856) 905-0830

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7092 FORREST AVE Philadelphia, PA 19138

Key Details

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Interior

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