Studio Condominium with
For Sale
$79,900
1324 LOCUST STREET Unit 1120, Philadelphia, PA 19107
The 11th-floor residence has a full bathroom, closet storage, and access to shared building amenities.
Property Size320 SF
Days on Market41
Property Features for 1324 LOCUST STREET Unit 1120
General Information
Standard status
Active
Size
320 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Units
Unit Mix
1 x studio
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,201
Amenities
24-hour security
fitness center
laundry facilities
mail room
bike storage
community room
Building Details
Building Size
320 SF
Year Built
1922
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Naomi Kurzyna · License #RS343663
(301) 520-3224
Source:
Patmckennarealtors
Added: Sep 22
Changed: Oct 31
Last Checked: Oct 30 at 9:00PM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
This studio condominium occupies the 11th floor of the Arts Condominium, a building completed in 1922. The unit includes a kitchenette, full bathroom, and closet storage. Shared facilities include 24-hour security, a fitness center, laundry, a mail room, bike storage, and a community room. Utilities are included in the condo fee.
The property is in Center City Philadelphia near Jefferson Hospital and area universities and schools. Rittenhouse Square and Washington Square West are a few blocks away. Transit options include the Broad Street Line, Market-Frankford Line, PATCO High-Speed Line, and multiple bus routes.
The property is in Center City Philadelphia near Jefferson Hospital and area universities and schools. Rittenhouse Square and Washington Square West are a few blocks away. Transit options include the Broad Street Line, Market-Frankford Line, PATCO High-Speed Line, and multiple bus routes.
Key Highlights
- Studio residence on the 11th floor
- Built in 1922
- Unit includes a kitchenette, full bathroom, and closet storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,033
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$100,660
$100.7K
Cap Rate 7%
$71,900
$71.9K
Cap Rate 9%
$55,922
$55.9K
Market Conditions
NOI Build-Up for 320 SF
Gross rent
$9.7K $30.36/SF
− Vacancy
−$563 −$1.76/SF
EGI
$9.2K $28.60/SF
− OpEx
−$4.1K −$12.87/SF
NOI
$5.0K $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%
$100,660
Cap Rate 7%
$71,900
Cap Rate 9%
$55,922
Alternative Uses
Best Use
Apartment 5plus
$71.9K
$62.9K – $83.9K
NOI $5,033 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$78.0K
$68.3K – $91.0K
NOI $5,461 @ 7.0% cap · market cap 6.83%
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
26,359
Businesses Nearby
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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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Frequently Asked Questions
What type of property is this?
Residential income property - The 11th-floor residence has a full bathroom, closet storage, and access to shared building amenities.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 1120 Philadelphia, PA.
What is the asking price?
The asking price for this property is $79,900.
What are key features of this property?
This property features: Studio residence on the 11th floor; Built in 1922; Unit includes a kitchenette, full bathroom, and closet storage
