Renovated
For Sale
$1,150,000
1108 Locust St, Philadelphia, PA 19107
Three occupied apartments feature updated interiors, private laundry, central HVAC, and individually metered utilities.
Property Size2,380 SF
Price / SF$483.19
Days on Market92
Property Features for 1108 Locust St
General Information
Standard status
Active
Size
2,380 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$10,820
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Anna DePalma
(215) 490-2992
Source:
Exprealty
Added: Jul 15
Changed: Oct 1
Last Checked: Oct 12 at 9:59PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This three-unit residential income property includes one apartment on each of the first three floors. The first-floor residence extends across two levels with a partially finished basement, one bedroom, one and one-half baths, and a flexible bonus room. The upper apartments each offer one bedroom and one bath, with walk-in closets; one includes a contemporary kitchen with a center island. All three apartments have in-unit washers and dryers. Central air conditioning and heating serve the property, while separate gas and electric meters and individual water heaters support each apartment. The common hallway has been renovated, and the property is fully occupied.
The building is located at 1108 Locust Street in Philadelphia’s Washington Square West neighborhood. Cafés, restaurants, boutiques, Pennsylvania Hospital, Jefferson University Hospital, PATCO, the Broad Street Line, Regional Rail, and multiple bus routes are all identified as nearby destinations or transportation options.
The building is located at 1108 Locust Street in Philadelphia’s Washington Square West neighborhood. Cafés, restaurants, boutiques, Pennsylvania Hospital, Jefferson University Hospital, PATCO, the Broad Street Line, Regional Rail, and multiple bus routes are all identified as nearby destinations or transportation options.
Key Highlights
- Three‑apartment property with all units currently occupied
- First‑floor bi‑level apartment includes a partially finished basement and bonus room
- Each apartment has an in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,614
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,280
$812.3K
Cap Rate 7%
$580,200
$580.2K
Cap Rate 9%
$451,267
$451.3K
Market Conditions
NOI Build-Up for 2,380 SF
Gross rent
$61.4K $25.80/SF
− Vacancy
−$3.4K −$1.42/SF
EGI
$58.0K $24.38/SF
− OpEx
−$17.4K −$7.31/SF
NOI
$40.6K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,280
Cap Rate 7%
$580,200
Cap Rate 9%
$451,267
Alternative Uses
Best Use
Multifamily LT 5
$580.2K
$507.7K – $676.9K
NOI $40,614 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$534.8K
$468.0K – $623.9K
NOI $37,436 @ 7.0% cap · market cap 3.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
25,174
Businesses Nearby
Explore this area
Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three occupied apartments feature updated interiors, private laundry, central HVAC, and individually metered utilities.
Where is this triplex located?
The property is located at 1108 Locust St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three‑apartment property with all units currently occupied; First‑floor bi‑level apartment includes a partially finished basement and bonus room; Each apartment has an in‑unit washer and dryer
