Residential Condominium with
For Sale
$220,000
1324 LOCUST STREET Unit 1602, Philadelphia, PA 19107
A 16th-floor home pairs a flexible den with building services and resident amenities.
Property Size1,268 SF
Price / SF$173.50
Days on Market524
Property Features for 1324 LOCUST STREET Unit 1602
General Information
Standard status
Active
Size
1,268 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,214
Amenities
24/7 front desk attendant
on-site management and maintenance
fitness center
business center
laundry facilities
complimentary Wi-Fi
Building Details
Building Size
1,268 SF
Year Built
1900
Listing Agency:
Keller Williams Realty
Listed By:
Desantis Real Estate Team · License #342628
(267) 625-7016
Source:
Desantis-realestate
Added: May 27, 2025
Changed: Oct 27
Last Checked: Oct 31 at 4:48PM
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 Realty
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Investment Insights
Based on property information with market context.
This 1,268-square-foot condominium has two bedrooms, one full bathroom, a powder room, and a den. The kitchen opens to the living area and features granite counters, stainless steel appliances, cherry cabinetry, storage, and an L-shaped breakfast bar. Hardwood flooring extends through the entry, living room, kitchen, and hall; carpeting finishes the bedrooms and den. The residence is on the building’s 16th floor, and the building dates to 1900.
Building amenities include a 24-hour front desk, on-site management and maintenance, a fitness center, business center, laundry facilities, and complimentary Wi-Fi in the lobby and resident work areas. The property is at 1324 Locust Street in Philadelphia, just off Broad Street and near Avenue of the Arts. The listing also identifies Rittenhouse Square, Kimmel Center for the Performing Arts, Reading Terminal Market, Jefferson and Penn hospitals, public transportation, and major commuter routes as nearby destinations or access options.
Building amenities include a 24-hour front desk, on-site management and maintenance, a fitness center, business center, laundry facilities, and complimentary Wi-Fi in the lobby and resident work areas. The property is at 1324 Locust Street in Philadelphia, just off Broad Street and near Avenue of the Arts. The listing also identifies Rittenhouse Square, Kimmel Center for the Performing Arts, Reading Terminal Market, Jefferson and Penn hospitals, public transportation, and major commuter routes as nearby destinations or access options.
Key Highlights
- 1,268‑square‑foot condominium with two bedrooms, one full bath, a powder room, and a den
- Located on the 16th floor of a building constructed in 1900
- Open kitchen with granite countertops, stainless steel appliances, cherry cabinetry, and an L‑shaped breakfast bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,945
Cap Rate
9.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$398,900
$398.9K
Cap Rate 7%
$284,929
$284.9K
Cap Rate 9%
$221,611
$221.6K
Market Conditions
NOI Build-Up for 1,268 SF
Gross rent
$38.5K $30.36/SF
− Vacancy
−$2.2K −$1.76/SF
EGI
$36.3K $28.60/SF
− OpEx
−$16.3K −$12.87/SF
NOI
$19.9K $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%
$398,900
Cap Rate 7%
$284,929
Cap Rate 9%
$221,611
Alternative Uses
Best Use
Apartment 5plus
$284.9K
$249.3K – $332.4K
NOI $19,945 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$309.1K
$270.5K – $360.6K
NOI $21,638 @ 7.0% cap · market cap 9.84%
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 - A 16th-floor home pairs a flexible den with building services and resident amenities.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 1602 Philadelphia, PA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 1,268‑square‑foot condominium with two bedrooms, one full bath, a powder room, and a den; Located on the 16th floor of a building constructed in 1900; Open kitchen with granite countertops, stainless steel appliances, cherry cabinetry, and an L‑shaped breakfast bar
