Condominium in The
1701 LOCUST STREET 1516 Philadelphia, PA 19103
1701 LOCUST STREET 1516, Philadelphia, PA, 19103
$179,900
For Sale
$179,900
Residential flat in The Warwick Condominiums with modern amenities.
Property Size381 SF
Price / SF$472.18
Days on Market1557
Property Features for 1701 LOCUST STREET 1516
General Information
- Standard status
- Active
- Size
- 381 SF
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1928
Listing Agency
Allan Domb Real Estate
(215) 545-1500
Listed by
Allan Domb · License #RB043135A
(215) 545-1500
Source
Exitrealty
Added: Apr 14, 2022 Checked: Jul 17 at 3:47 am
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 Allan Domb Real Estate
Investment Insights
Based on property information with market context.
Located within The Warwick Condominiums, Unit 1516 features a generously sized living and dining room. The flat includes hardwood floors and baseboard moldings throughout. The open kitchen is equipped with a granite countertop, a 3/4 height refrigerator/freezer, an enlarged sink, wood cabinetry, and stainless steel appliances. The bathroom is appointed with marble and includes a wood vanity, a shower/tub, and a GE stackable washer/dryer. The property has a size of 381 square feet. The unit is suitable for use as a full-time residence or pied-a-terre. Residents of The Warwick have access to amenities such as 24-hour door-man service and a state-of-the-art fitness room. Hotel services are available for an additional fee.
Key Highlights
- 24‑hour doorman service provides security and convenience
- Enjoy access to a state‑of‑the‑art fitness room
- Hardwood floors and baseboard moldings throughout the living spaces
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $11.6k | $30.36 |
| − Vacancy | −$671 | −$1.76 |
| EGI | $10.9k | $28.60 |
| − OpEx | −$4.9k | −$12.87 |
| NOI | $6.0k | $15.73 |
381 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$85.6K
$74.9K – $99.9K
NOI $5,993 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$92.9K
$81.3K – $108.4K
NOI $6,502 @ 7.0% cap · market cap 3.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Warwick Condominiums
Condominium Complex
FRC
Shipping Company
Bluestone Lane Rittenhouse ...
Cafe & Coffee Shop
Nighthawk Group, LLC
Property Investment Company
Rittenhouse Grill
Restaurant
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FAQs
What type of property is this?
Residential income property - Residential flat in The Warwick Condominiums with modern amenities.
Where is this residential income property located?
The property is located at 1701 LOCUST STREET 1516 Philadelphia, PA.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: 24‑hour doorman service provides security and convenience; Enjoy access to a state‑of‑the‑art fitness room; Hardwood floors and baseboard moldings throughout the living spaces
