Studio Condominium
For Sale
$67,000
1324 LOCUST STREET Unit 703, Philadelphia, PA 19107
Central Philadelphia studio with natural light, practical storage, furnished appliance options, and full-service condominium amenities.
Property Size316 SF
Days on Market237
Property Features for 1324 LOCUST STREET Unit 703
General Information
Standard status
Active
Size
316 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,132
Amenities
24-hour front desk
on-site gym
laundry room
common areas
Building Details
Building Size
316 SF
Year Built
1900
Listing Agency:
KW Empower
(941) 889-8266
Listed By:
Alexander Frederick · License #RS344023
(941) 889-8266
Source:
Patmckennarealtors
Added: Dec 10, 2025
Changed: Aug 4
Last Checked: Aug 4 at 5:14AM
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
Investment Insights
Based on property information with market context.
Unit 703 is a studio condominium residence with wide windows, a tiled bathroom with a bathtub and storage vanity, and a generously sized closet. The unit can include a full-size refrigerator, standalone pantry, rolling breakfast cart, and select furniture. The Arts Condominium was built in 1900 and provides a 24-hour front desk, elevators, fitness center, laundry room, and shared resident spaces.
The property is in Center City Philadelphia near the Avenue of the Arts, with dining, entertainment, and public transportation surrounding the building. Its combination of an efficient studio layout, included furnishings and appliances, and on-site services supports convenient urban living.
The property is in Center City Philadelphia near the Avenue of the Arts, with dining, entertainment, and public transportation surrounding the building. Its combination of an efficient studio layout, included furnishings and appliances, and on-site services supports convenient urban living.
Key Highlights
- Studio condominium unit with wide windows and consistent natural light
- Full bathroom includes a tub and storage vanity
- Optional inclusions include full‑size refrigerator, pantry, breakfast cart, and select furniture
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 | $9.6k | $30.36 |
| − Vacancy | −$556 | −$1.76 |
| EGI | $9.0k | $28.60 |
| − OpEx | −$4.1k | −$12.87 |
| NOI | $5.0k | $15.73 |
316 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$71.0K
$62.1K – $82.9K
NOI $4,971 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$77.0K
$67.4K – $89.9K
NOI $5,393 @ 7.0% cap · market cap 8.05%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Central Philadelphia studio with natural light, practical storage, furnished appliance options, and full-service condominium amenities.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 703 Philadelphia, PA.
What is the asking price?
The asking price for this property is $67,000.
What are key features of this property?
This property features: Studio condominium unit with wide windows and consistent natural light; Full bathroom includes a tub and storage vanity; Optional inclusions include full‑size refrigerator, pantry, breakfast cart, and select furniture
