14th-Floor Residential Income
For Sale
$69,900
1324 LOCUST STREET Unit 809, Philadelphia, PA 19107
Unit 1420 is offered with rehabilitation work remaining for completion.
Property Size318 SF
Days on Market272
Property Features for 1324 LOCUST STREET Unit 809
General Information
Standard status
Active
Size
318 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,139
Building Details
Building Size
318 SF
Year Built
1922
Listing Agency:
BHHS Fox & Roach The Harper at Rittenhouse Square
Listed By:
John Featherman · License #AB067755
(215) 280-7455
Source:
Patmckennarealtors
Added: Feb 2
Changed: Oct 31
Last Checked: Nov 1 at 12:04PM
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 BHHS Fox & Roach The Harper at Rittenhouse Square
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Investment Insights
Based on property information with market context.
This residential income property comprises Unit 1420 on the 14th floor of a building constructed in 1920. Rehabilitation work remains unfinished, presenting a property in need of completion rather than a finished-condition offering.
The property is located at 1324 Locust Street in Philadelphia, Pennsylvania, within ZIP Code 19107.
The property is located at 1324 Locust Street in Philadelphia, Pennsylvania, within ZIP Code 19107.
Key Highlights
- Unit 1420 on the 14th floor
- Rehabilitation work remains unfinished
- Building constructed in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,002
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$100,040
$100.0K
Cap Rate 7%
$71,457
$71.5K
Cap Rate 9%
$55,578
$55.6K
Market Conditions
NOI Build-Up for 318 SF
Gross rent
$9.7K $30.36/SF
− Vacancy
−$560 −$1.76/SF
EGI
$9.1K $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%
$100,040
Cap Rate 7%
$71,457
Cap Rate 9%
$55,578
Alternative Uses
Best Use
Apartment 5plus
$71.5K
$62.5K – $83.4K
NOI $5,002 @ 7.0% cap · market cap 7.16%
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 7.76%
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 - Unit 1420 is offered with rehabilitation work remaining for completion.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 809 Philadelphia, PA.
What is the asking price?
The asking price for this property is $69,900.
What are key features of this property?
This property features: Unit 1420 on the 14th floor; Rehabilitation work remains unfinished; Building constructed in 1920
