Furnished Residential Income
For Sale
$149,900
1324 LOCUST Unit 429, Philadelphia, PA 19107
The studio includes furnishings, household essentials, and utilities through the condo fee.
Property Size321 SF
Price / SF$466.98
Days on Market178
Property Features for 1324 LOCUST Unit 429
General Information
Standard status
Active
Size
321 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$1,107
Amenities
concierge
fitness center
community room
bike storage
Building Details
Building Size
321 SF
Year Built
1929
Year Renovated
2020
Listing Agency:
RE/MAX Access
Listed By:
Robert A MacHarrie · License #RS-276741
(610) 554-6388
Source:
Wagnerrealestate
Added: May 11
Changed: Nov 2
Last Checked: Nov 4 at 9:08AM
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 RE/MAX Access
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Investment Insights
Based on property information with market context.
This 321-square-foot studio condominium was renovated in 2020 and is offered with its furnishings and household items. Interior details include Italian marble flooring, a quartzite peninsula, custom storage, electronic blinds, and a built-in television with Bose sound. The kitchen has a built-in refrigerator and freezer, microwave, and dishwasher. The bathroom features a soaking tub and an electronically controlled toilet with a heated seat and bidet. The building dates to 1929.
Building services and amenities include a staffed concierge desk, on-site security and management, a fitness center, a community room, and bicycle storage. Utilities are included in the condo fee. The property is in the Avenue of the Arts area, adjacent to Broad and Locust Streets, with PATCO and SEPTA train lines outside the building.
Building services and amenities include a staffed concierge desk, on-site security and management, a fitness center, a community room, and bicycle storage. Utilities are included in the condo fee. The property is in the Avenue of the Arts area, adjacent to Broad and Locust Streets, with PATCO and SEPTA train lines outside the building.
Key Highlights
- 321‑square‑foot furnished studio condominium
- Renovated in 2020; building constructed in 1929
- Italian marble flooring, quartzite peninsula, custom storage, and electronic blinds
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,049
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$100,980
$101.0K
Cap Rate 7%
$72,129
$72.1K
Cap Rate 9%
$56,100
$56.1K
Market Conditions
NOI Build-Up for 321 SF
Gross rent
$9.7K $30.36/SF
− Vacancy
−$565 −$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%
$100,980
Cap Rate 7%
$72,129
Cap Rate 9%
$56,100
Alternative Uses
Best Use
Apartment 5plus
$72.1K
$63.1K – $84.2K
NOI $5,049 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$78.3K
$68.5K – $91.3K
NOI $5,478 @ 7.0% cap · market cap 3.65%
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 studio includes furnishings, household essentials, and utilities through the condo fee.
Where is this residential income property located?
The property is located at 1324 LOCUST Unit 429 Philadelphia, PA.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: 321‑square‑foot furnished studio condominium; Renovated in 2020; building constructed in 1929; Italian marble flooring, quartzite peninsula, custom storage, and electronic blinds
