Furnished Studio
For Sale
$72,500
1324 LOCUST STREET Unit 420, Philadelphia, PA 19107
The 320-square-foot residence has hardwood floors and a separate bathroom.
Property Size320 SF
Price / SF$226.56
Days on Market212
Property Features for 1324 LOCUST STREET Unit 420
General Information
Standard status
Active
Size
320 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Units
Unit Mix
1 x studio/1ba
Multifamily Units
1
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$1,103
Amenities
24/7 front desk attendant/security
laundry facilities
Fitness Center
Internet terminals in lobby
Bike storage
Salon/Barbershop on site
Building Details
Building Size
320 SF
Year Built
1900
Listing Agency:
JG Real Estate LLC
Listed By:
Ariel L Morgenstein · License #AB067988
(215) 467-4100
Source:
Wagnerrealestate
Added: Apr 8
Changed: Nov 2
Last Checked: Nov 5 at 10:30AM
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 JG Real Estate LLC
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Investment Insights
Based on property information with market context.
This furnished studio condominium includes one bathroom and 320 square feet of interior space. Hardwood flooring and wall molding add detail to the unit. Building services and amenities include a 24-hour front desk and security, laundry facilities, a fitness center, lobby internet terminals, bike storage, and an on-site salon and barbershop. Utilities and cable TV, including HBO, are covered by the HOA dues; in-unit internet is excluded.
The property is near the Avenue of the Arts and Broad Street. The Broad Street subway stop at Broad and Walnut is at the end of the block, and a PATCO station is across the street. City Hall, Washington Square West, Midtown, and Rittenhouse Square are within walking distance, along with theaters, dining, galleries, and universities.
The property is near the Avenue of the Arts and Broad Street. The Broad Street subway stop at Broad and Walnut is at the end of the block, and a PATCO station is across the street. City Hall, Washington Square West, Midtown, and Rittenhouse Square are within walking distance, along with theaters, dining, galleries, and universities.
Key Highlights
- Furnished studio condominium with one bathroom and 320 square feet
- Hardwood floors and wall molding
- HOA dues cover utilities and cable TV, including HBO; in‑unit internet is excluded
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,033
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$100,660
$100.7K
Cap Rate 7%
$71,900
$71.9K
Cap Rate 9%
$55,922
$55.9K
Market Conditions
NOI Build-Up for 320 SF
Gross rent
$9.7K $30.36/SF
− Vacancy
−$563 −$1.76/SF
EGI
$9.2K $28.60/SF
− OpEx
−$4.1K −$12.87/SF
NOI
$5.0K $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%
$100,660
Cap Rate 7%
$71,900
Cap Rate 9%
$55,922
Alternative Uses
Best Use
Apartment 5plus
$71.9K
$62.9K – $83.9K
NOI $5,033 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$78.0K
$68.3K – $91.0K
NOI $5,461 @ 7.0% cap · market cap 7.53%
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 - The 320-square-foot residence has hardwood floors and a separate bathroom.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 420 Philadelphia, PA.
What is the asking price?
The asking price for this property is $72,500.
What are key features of this property?
This property features: Furnished studio condominium with one bathroom and 320 square feet; Hardwood floors and wall molding; HOA dues cover utilities and cable TV, including HBO; in‑unit internet is excluded
