Residential Income Property with Rooftop
For Sale
$70,000
1324 LOCUST STREET Unit 1228, Philadelphia, PA 19107
Residents have access to an elevator, shared grounds, a gathering room, and an on-site beauty salon.
Property Size313 SF
Days on Market9
Property Features for 1324 LOCUST STREET Unit 1228
General Information
Standard status
Active
Size
313 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,173
Amenities
rooftop patio
party room
beauty salon
Building Details
Building Size
313 SF
Year Built
1900
Construction
Art Deco
Listing Agency:
BHHS Fox & Roach-Haverford
Listed By:
Kimberlee M Tonetti · License #RS337154
(610) 721-6006
Source:
Patmckennarealtors
Added: Oct 24
Changed: Oct 31
Last Checked: Oct 30 at 10:23PM
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-Haverford
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Art Deco residential property, built in 1900, includes a rooftop patio, elevator, shared grounds, party room, and an on-site beauty salon. Exterior lighting is also present.
A covered public parking garage is located across the street. The property is accessible by train, bus, foot, and car, with cultural attractions, restaurants, and shops in the surrounding neighborhood.
A covered public parking garage is located across the street. The property is accessible by train, bus, foot, and car, with cultural attractions, restaurants, and shops in the surrounding neighborhood.
Key Highlights
- Art Deco property built in 1900
- Rooftop patio and elevator
- Shared grounds and party room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,923
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$98,460
$98.5K
Cap Rate 7%
$70,329
$70.3K
Cap Rate 9%
$54,700
$54.7K
Market Conditions
NOI Build-Up for 313 SF
Gross rent
$9.5K $30.36/SF
− Vacancy
−$551 −$1.76/SF
EGI
$9.0K $28.60/SF
− OpEx
−$4.0K −$12.87/SF
NOI
$4.9K $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%
$98,460
Cap Rate 7%
$70,329
Cap Rate 9%
$54,700
Alternative Uses
Best Use
Apartment 5plus
$70.3K
$61.5K – $82.1K
NOI $4,923 @ 7.0% cap · market cap 7.03%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$76.3K
$66.8K – $89.0K
NOI $5,341 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - Residents have access to an elevator, shared grounds, a gathering room, and an on-site beauty salon.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 1228 Philadelphia, PA.
What is the asking price?
The asking price for this property is $70,000.
What are key features of this property?
This property features: Art Deco property built in 1900; Rooftop patio and elevator; Shared grounds and party room
