Studio Residential Income
For Sale
$99,000
1324 LOCUST STREET Unit 314, Philadelphia, PA 19107
Tenant-occupied studio with a kitchenette, full bathroom, and building amenities including security, fitness, laundry, and bike storage.
Property Size382 SF
Days on Market61
Property Features for 1324 LOCUST STREET Unit 314
General Information
Standard status
Active
Size
382 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
$1,313
Amenities
24hr security
gym
laundry room
mail room
bike storage
community room
Building Details
Building Size
382 SF
Year Built
1900
Listing Agency:
KW Empower
Listed By:
alaina bernstein · License #RS354405
(267) 918-0186
Source:
Patmckennarealtors
Added: Sep 2
Changed: Oct 31
Last Checked: Oct 30 at 8:11PM
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 KW Empower
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Investment Insights
Based on property information with market context.
This tenant-occupied studio is located on the third floor of a historic condominium building constructed in 1900. The residence includes a full bathroom with tub, kitchenette, closet, and full-size refrigerator. HOA coverage includes all utilities, supporting straightforward occupancy and operating arrangements.
Building amenities include 24-hour security, a gym, laundry room, mail room, bike storage, and community room. The property is near schools, Jefferson Hospital, Rittenhouse Square, Washington Square West, and Old City, with museums, shopping, theaters, and restaurants nearby. Transit access includes the Broad Street Line, Market-Frankford Line, PATCO High Speed Line, and bus routes.
Building amenities include 24-hour security, a gym, laundry room, mail room, bike storage, and community room. The property is near schools, Jefferson Hospital, Rittenhouse Square, Washington Square West, and Old City, with museums, shopping, theaters, and restaurants nearby. Transit access includes the Broad Street Line, Market-Frankford Line, PATCO High Speed Line, and bus routes.
Key Highlights
- Studio unit on the 3rd floor of a historic building constructed in 1900
- Full bathroom with tub, kitchenette, closet, and full‑size refrigerator
- HOA includes all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,009
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$120,180
$120.2K
Cap Rate 7%
$85,843
$85.8K
Cap Rate 9%
$66,767
$66.8K
Market Conditions
NOI Build-Up for 382 SF
Gross rent
$11.6K $30.36/SF
− Vacancy
−$673 −$1.76/SF
EGI
$10.9K $28.60/SF
− OpEx
−$4.9K −$12.87/SF
NOI
$6.0K $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%
$120,180
Cap Rate 7%
$85,843
Cap Rate 9%
$66,767
Alternative Uses
Best Use
Apartment 5plus
$85.8K
$75.1K – $100.2K
NOI $6,009 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$93.1K
$81.5K – $108.7K
NOI $6,519 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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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 - Tenant-occupied studio with a kitchenette, full bathroom, and building amenities including security, fitness, laundry, and bike storage.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 314 Philadelphia, PA.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: Studio unit on the 3rd floor of a historic building constructed in 1900; Full bathroom with tub, kitchenette, closet, and full‑size refrigerator; HOA includes all utilities
