Loft-Style Residential Income
For Sale
$435,000
Pending
1101 WASHINGTON AVENUE Unit 705, Philadelphia, PA 19147
Loft-style residence with private garage parking and on-site storage.
Property Size1,370 SF
Days on Market21
Property Features for 1101 WASHINGTON AVENUE Unit 705
General Information
Standard status
Pending
Size
1,370 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$6,097
Amenities
24-hour concierge
fitness center
residents' lounge
bike storage
private storage lockers
Building Details
Building Size
1,370 SF
Year Built
1900
Listing Agency:
BHHS Fox & Roach The Harper at Rittenhouse Square
Listed By:
Andy Oei · License #RS302287
(215) 695-5042
Source:
Patmckennarealtors
Added: Aug 20
Changed: Sep 4
Last Checked: Sep 4 at 1:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Fox & Roach The Harper at Rittenhouse Square
Investment Insights
Based on property information with market context.
This one-bedroom, one-bath residence combines an open loft configuration with original architectural elements, high ceilings, and extensive window lines. The kitchen includes SCHIFFINI cabinetry, stainless steel appliances, granite countertops, and a large island. The bedroom suite offers generous closet space and connects to a bathroom with a floating vanity, chrome fixtures, and an oversized soaking tub. One-car garage parking and an on-site storage unit are included. The building dates to 1900 and provides a 24-hour concierge, fitness center, residents’ lounge, bike storage, and private storage lockers.
The property is in Bella Vista, with the Italian Market, Avenue of the Arts, Passyunk Square, dining, shopping, nightlife, and major transportation routes nearby. The residence is also identified as pet-friendly in the property information.
The property is in Bella Vista, with the Italian Market, Avenue of the Arts, Passyunk Square, dining, shopping, nightlife, and major transportation routes nearby. The residence is also identified as pet-friendly in the property information.
Key Highlights
- One‑bedroom, one‑bath loft‑style residence
- One‑car garage parking included
- On‑site storage unit plus private storage lockers
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,549
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$430,980
$431.0K
Cap Rate 7%
$307,843
$307.8K
Cap Rate 9%
$239,433
$239.4K
Market Conditions
NOI Build-Up for 1,370 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.6K $30.36/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$39.2K $28.60/SF
− OpEx
−$17.6K −$12.87/SF
NOI
$21.5K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$430,980
Cap Rate 7%
$307,843
Cap Rate 9%
$239,433
Alternative Uses
Best Use
Apartment 5plus
$307.8K
$269.4K – $359.2K
NOI $21,549 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$334.0K
$292.2K – $389.7K
NOI $23,379 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,290
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Loft-style residence with private garage parking and on-site storage.
Where is this residential income property located?
The property is located at 1101 WASHINGTON AVENUE Unit 705 Philadelphia, PA.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath loft‑style residence; One‑car garage parking included; On‑site storage unit plus private storage lockers
