Residential Income Property with Loft
For Sale
$595,000
1147 N 4TH STREET Unit 3A, Philadelphia, PA 19123
Two-bedroom condominium unit with exposed brick, industrial windows, assigned parking, and an open kitchen-living layout.
Property Size1,466 SF
Days on Market18
Property Features for 1147 N 4TH STREET Unit 3A
General Information
Standard status
Active
Size
1,466 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$6,639
Amenities
elevator
Tesla charging stations
lockable storage containers
secure common entrance
automatic interior blinds
washer/dryer
Building Details
Building Size
1,466 SF
Year Built
2004
Construction
brick
Listing Agency:
RE/MAX Of Reading
(610) 656-9427
Listed By:
Dave Decembrino · License #RS223349L
(610) 656-9427
Source:
Patmckennarealtors
Added: Aug 6
Changed: Aug 21
Last Checked: Aug 23 at 9:15AM
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 RE/MAX Of Reading
Investment Insights
Based on property information with market context.
This third-floor condominium unit offers a two-bedroom, two-full-bath layout with polished concrete floors, exposed brick, heavy timber ceilings, and large industrial-style windows equipped with automatic interior blinds. The open kitchen includes natural maple cabinetry, granite countertops, a food-prep peninsula, breakfast-bar seating, stainless steel appliances, and an adjoining walk-in pantry. A stackable washer and dryer, designer light fixtures, and large furnishings remain. The primary suite includes a walk-in closet with built-in shelving, antique cabinetry, and a private bath with double sinks, a soaking tub, and an updated tile shower. The second bedroom is served by a nearby full bath and may also function as an office or nursery.
The condominium building has a brick exterior, common entry with a digital touch pad, elevator access, and secure basement-style garage parking. Assigned parking spaces include lockable poly storage containers and brand-new Tesla charging stations. The property is located at 1147 N 4th Street in Philadelphia, with access to the Market-Frankfort EL SEPTA line and walkable access to nearby conveniences.
The condominium building has a brick exterior, common entry with a digital touch pad, elevator access, and secure basement-style garage parking. Assigned parking spaces include lockable poly storage containers and brand-new Tesla charging stations. The property is located at 1147 N 4th Street in Philadelphia, with access to the Market-Frankfort EL SEPTA line and walkable access to nearby conveniences.
Key Highlights
- 2‑bedroom, 2 full bath, third‑floor condominium unit
- 11' high heavy timber ceilings with exposed brick and polished concrete floors
- Open kitchen with maple cabinetry, granite countertops, stainless steel appliances, and walk‑in pantry
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
$23,059
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
3.88%
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%
$461,180
$461.2K
Cap Rate 7%
$329,414
$329.4K
Cap Rate 9%
$256,211
$256.2K
Market Conditions
NOI Build-Up for 1,466 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
$44.5K $30.36/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$41.9K $28.60/SF
− OpEx
−$18.9K −$12.87/SF
NOI
$23.1K $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%
$461,180
Cap Rate 7%
$329,414
Cap Rate 9%
$256,211
Alternative Uses
Best Use
Apartment 5plus
$329.4K
$288.2K – $384.3K
NOI $23,059 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$357.4K
$312.7K – $417.0K
NOI $25,017 @ 7.0% cap · market cap 4.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,393
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium unit with exposed brick, industrial windows, assigned parking, and an open kitchen-living layout.
Where is this residential income property located?
The property is located at 1147 N 4TH STREET Unit 3A Philadelphia, PA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2‑bedroom, 2 full bath, third‑floor condominium unit; 11' high heavy timber ceilings with exposed brick and polished concrete floors; Open kitchen with maple cabinetry, granite countertops, stainless steel appliances, and walk‑in pantry
