Residential Income Property with
For Sale
$500,000
122 NEW STREET #4C, Philadelphia, PA 19106
Fourth-floor condominium residence with updated finishes, private outdoor areas, and secure elevator access in Old City.
Property Size1,219 SF
Price / SF$410.17
Days on Market103
Property Features for 122 NEW STREET #4C
General Information
Standard status
Active
Size
1,219 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
in-unit laundry
private courtyard
outdoor common areas
Forced Air
Central A/C
Building Details
Year Built
2006
Listing Agency:
Keller Williams Real Estate - Newtown
Listed By:
Tom Greer · License #RS324020
(267) 974-1450
Source:
Kw
Added: Jul 24
Changed: Nov 1
Last Checked: Nov 1 at 11:09AM
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 Keller Williams Real Estate - Newtown
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Investment Insights
Based on property information with market context.
This fourth-floor condominium residence at Nouveau Condominiums includes 2 bedrooms, 2 full bathrooms, and 1,219 square feet of living area. The open interior features hardwood flooring, floor-to-ceiling windows, an electric fireplace, custom electric shades, and an updated kitchen with granite counters, stainless steel appliances, a center island, and recessed lighting. The primary suite includes an ensuite bath with a double vanity, frameless glass shower, and soaking tub. In-unit laundry, central A/C, forced air, and one assigned garage parking space add practical convenience.
Built in 2006, the professionally managed condominium provides secure elevator entry, a landscaped private courtyard, and outdoor common areas. The property is located at 122 New Street in Philadelphia’s Old City neighborhood, near restaurants, cafés, galleries, boutique shopping, Penn’s Landing, Race Street Pier, Cherry Street Pier, Independence Mall, and public transportation.
Built in 2006, the professionally managed condominium provides secure elevator entry, a landscaped private courtyard, and outdoor common areas. The property is located at 122 New Street in Philadelphia’s Old City neighborhood, near restaurants, cafés, galleries, boutique shopping, Penn’s Landing, Race Street Pier, Cherry Street Pier, Independence Mall, and public transportation.
Key Highlights
- 2‑bedroom, 2‑bathroom fourth‑floor condominium residence
- 1,219 square feet of living space
- One assigned garage parking space with secure elevator access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,174
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,480
$383.5K
Cap Rate 7%
$273,914
$273.9K
Cap Rate 9%
$213,044
$213.0K
Market Conditions
NOI Build-Up for 1,219 SF
Gross rent
$37.0K $30.36/SF
− Vacancy
−$2.1K −$1.76/SF
EGI
$34.9K $28.60/SF
− OpEx
−$15.7K −$12.87/SF
NOI
$19.2K $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 Rate 5%
$383,480
Cap Rate 7%
$273,914
Cap Rate 9%
$213,044
Alternative Uses
Best Use
Apartment 5plus
$273.9K
$239.7K – $319.6K
NOI $19,174 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$297.2K
$260.0K – $346.7K
NOI $20,802 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,144
Businesses Nearby
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Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Fourth-floor condominium residence with updated finishes, private outdoor areas, and secure elevator access in Old City.
Where is this residential income property located?
The property is located at 122 NEW STREET #4C Philadelphia, PA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bathroom fourth‑floor condominium residence; 1,219 square feet of living space; One assigned garage parking space with secure elevator access
