Bi-Level Loft Income
For Sale
$376,500
1201 FITZWATER STREET Unit 305, Philadelphia, PA 19147
One-bedroom condo with elevated ceilings, abundant glazing, and a private assigned parking space.
Property Size855 SF
Days on Market28
Property Features for 1201 FITZWATER STREET Unit 305
General Information
Standard status
Active
Size
855 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,412
Amenities
fitness center
sauna
locker rooms
clubroom
pool table
rooftop deck
complimentary laundry
Building Details
Building Size
855 SF
Year Built
1907
Listing Agency:
BHHS Fox & Roach-Center City Walnut
Listed By:
Kristopher A Barillas · License #RS326852
(215) 485-8946
Source:
Patmckennarealtors
Added: Aug 13
Changed: Sep 8
Last Checked: Sep 9 at 7:19AM
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-Center City Walnut
Investment Insights
Based on property information with market context.
This 617-square-foot, one-bedroom condominium occupies a bi-level loft layout in the Hawthorne Lofts building. The residence features a double-height living area, a mezzanine-style bedroom, hardwood flooring, large windows, and a kitchen equipped with stainless steel appliances. Privacy is enhanced by the absence of adjoining units on either side. The property dates to 1900.
Shared amenities include a fitness center with saunas and locker rooms, a resident clubroom with billiards and television seating, and complimentary laundry facilities with high-efficiency, large-capacity machines. An expansive rooftop deck provides 360-degree city views. The unit includes one gated, assigned parking space and is located at 1201 Fitzwater Street #304 in Philadelphia, Pennsylvania.
Shared amenities include a fitness center with saunas and locker rooms, a resident clubroom with billiards and television seating, and complimentary laundry facilities with high-efficiency, large-capacity machines. An expansive rooftop deck provides 360-degree city views. The unit includes one gated, assigned parking space and is located at 1201 Fitzwater Street #304 in Philadelphia, Pennsylvania.
Key Highlights
- 617‑square‑foot one‑bedroom bi‑level loft condominium
- Double‑height living room, hardwood floors, and stainless steel kitchen appliances
- No neighboring units on either side
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
$13,449
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
3.57%
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%
$268,980
$269.0K
Cap Rate 7%
$192,129
$192.1K
Cap Rate 9%
$149,433
$149.4K
Market Conditions
NOI Build-Up for 855 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
$26.0K $30.36/SF
− Vacancy
−$1.5K −$1.76/SF
EGI
$24.5K $28.60/SF
− OpEx
−$11.0K −$12.87/SF
NOI
$13.4K $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%
$268,980
Cap Rate 7%
$192,129
Cap Rate 9%
$149,433
Alternative Uses
Best Use
Apartment 5plus
$192.1K
$168.1K – $224.2K
NOI $13,449 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$208.4K
$182.4K – $243.2K
NOI $14,590 @ 7.0% cap · market cap 3.88%
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
11,176
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 - One-bedroom condo with elevated ceilings, abundant glazing, and a private assigned parking space.
Where is this residential income property located?
The property is located at 1201 FITZWATER STREET Unit 305 Philadelphia, PA.
What is the asking price?
The asking price for this property is $376,500.
What are key features of this property?
This property features: 617‑square‑foot one‑bedroom bi‑level loft condominium; Double‑height living room, hardwood floors, and stainless steel kitchen appliances; No neighboring units on either side
