Art Deco Residential Income
For Sale
$82,000
1324 LOCUST STREET Unit 407, Philadelphia, PA 19107
Updated residence with elevator access, fitness facilities, secure entry, laundry, and additional storage.
Property Size318 SF
Days on Market19
Property Features for 1324 LOCUST STREET Unit 407
General Information
Standard status
Active
Size
318 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,096
Amenities
fitness center
secure entry
laundry facilities
elevator
extra storage
Building Details
Building Size
318 SF
Year Built
1900
Construction
Art Deco
Listing Agency:
LYL Realty Group
(215) 498-3546
Listed By:
Dayhna Carroll · License #RM422863
(215) 498-3546
Source:
Patmckennarealtors
Added: Jul 17
Changed: Aug 4
Last Checked: Aug 4 at 6:01AM
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 LYL Realty Group
Investment Insights
Based on property information with market context.
Unit 407 is housed in an Art Deco building constructed in 1900 and features a range of interior upgrades. The residence includes hardwood floors, a marble-finished bathroom, and updated fixtures and finishes. Elevator service, secure entry, laundry facilities, and extra storage are available within the building. A fitness center is also provided for residents.
The property is located in Philadelphia’s Center City, near shopping and nightlife. On-street parking is available. Association services include air conditioning, electricity, and maintenance, providing a consolidated approach to several ongoing building and utility needs.
The property is located in Philadelphia’s Center City, near shopping and nightlife. On-street parking is available. Association services include air conditioning, electricity, and maintenance, providing a consolidated approach to several ongoing building and utility needs.
Key Highlights
- Art Deco building constructed in 1900
- Unit 407 with upgraded interior finishes and hardwood flooring
- Marble bathroom with premium fixtures and finishes
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 6.10%
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 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
$452,500
Median Home Value
Market
Average Price Trend$/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 - Updated residence with elevator access, fitness facilities, secure entry, laundry, and additional storage.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 407 Philadelphia, PA.
What is the asking price?
The asking price for this property is $82,000.
What are key features of this property?
This property features: Art Deco building constructed in 1900; Unit 407 with upgraded interior finishes and hardwood flooring; Marble bathroom with premium fixtures and finishes
