Updated Residential Income
For Sale
$89,999
1324 LOCUST STREET Unit 1207, Philadelphia, PA 19107
High-rise unit with skyline views, upgraded electrical service, and building-wide utilities included with the monthly fee.
Property Size318 SF
Days on Market19
Property Features for 1324 LOCUST STREET Unit 1207
General Information
Standard status
Active
Size
318 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$1,282
Building Details
Building Size
318 SF
Year Built
1900
Listing Agency:
Coldwell Banker Realty
(267) 606-8502
Listed By:
Keith M Stallone · License #RS326084
(267) 606-8502
Source:
Patmckennarealtors
Added: Jul 17
Changed: Aug 4
Last Checked: Aug 4 at 5:53AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Unit 1207 is a maintained and updated residence within The Arts Condominiums, offering a north-facing orientation and unobstructed panoramic views of Philadelphia’s downtown skyline. The interior includes a redesigned kitchen with a full-size refrigerator, stainless steel one-piece counter and sink, and extended cabinetry for additional storage and preparation space. A Murphy bed and window treatments support efficient city living, while the upgraded electrical system adds a notable improvement.
Building services include utilities and WiFi through the monthly fee, along with a 24-hour door person and concierge, fitness center, laundry facilities, resident community center, on-site management, secure package delivery, and bicycle storage. The property is positioned on Avenue of the Arts, near the theaters, 13th Street corridor dining and nightlife, and Rittenhouse Square. The unit is identified as suitable for a primary residence, pied-à-terre, or investment property.
Building services include utilities and WiFi through the monthly fee, along with a 24-hour door person and concierge, fitness center, laundry facilities, resident community center, on-site management, secure package delivery, and bicycle storage. The property is positioned on Avenue of the Arts, near the theaters, 13th Street corridor dining and nightlife, and Rittenhouse Square. The unit is identified as suitable for a primary residence, pied-à-terre, or investment property.
Key Highlights
- North‑facing unit with unobstructed panoramic downtown skyline views
- Upgraded electrical system in the residence
- Redesigned kitchen with full‑size refrigerator and stainless steel one‑piece counter and sink
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 | $9.7k | $30.36 |
| − Vacancy | −$560 | −$1.76 |
| EGI | $9.1k | $28.60 |
| − OpEx | −$4.1k | −$12.87 |
| NOI | $5.0k | $15.73 |
318 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$71.5K
$62.5K – $83.4K
NOI $5,002 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$77.5K
$67.8K – $90.5K
NOI $5,427 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
26,359
Businesses Nearby
Explore this area
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
$452,500
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Philadelphia, PA
Properties on Market for Residential income properties in Philadelphia
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - High-rise unit with skyline views, upgraded electrical service, and building-wide utilities included with the monthly fee.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 1207 Philadelphia, PA.
What is the asking price?
The asking price for this property is $89,999.
What are key features of this property?
This property features: North‑facing unit with unobstructed panoramic downtown skyline views; Upgraded electrical system in the residence; Redesigned kitchen with full‑size refrigerator and stainless steel one‑piece counter and sink
