Studio Residential Income
For Sale
$84,900
1324 LOCUST STREET Unit 901, Philadelphia, PA 19107
The unit features an open layout, updated finishes, and access to shared building amenities.
Property Size317 SF
Price / SF$267.82
Days on Market490
Property Features for 1324 LOCUST STREET Unit 901
General Information
Standard status
Active
Size
317 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,135
Amenities
24 security with lobby attendant
fitness center
laundry facilities
bike storage room
community room
free Wifi
handicapped accessible
Building Details
Building Size
317 SF
Year Built
1900
Listing Agency:
Century 21 Forrester Real Estate
Listed By:
Michael A. Giangiordano Sr. · License #RM044229A
(215) 334-3333
Source:
Wagnerrealestate
Added: Jun 30, 2025
Changed: Nov 1
Last Checked: Nov 1 at 3:53PM
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 Century 21 Forrester Real Estate
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Investment Insights
Based on property information with market context.
This studio residence in the Historic Arts Condo building has an open layout, wood kitchen cabinets, granite countertops, laminate flooring, and a full ceramic-tile bathroom with a walk-in shower. The building dates to 1900 and offers a lobby attendant, fitness center, laundry facilities, bike storage, and a community room. The lobby seating area includes Wi-Fi. Electric, heat, water, hot water, and sewer are covered by the condo association fee.
The Philadelphia property is near the Kimmel Center and the Academy of Music, with dining and shopping nearby. Public transit is accessible, and the listing identifies access to I-76 and I-95 and the airport. The building is handicapped accessible, and pets are permitted subject to stated limits of one cat and one dog under 40 pounds.
The Philadelphia property is near the Kimmel Center and the Academy of Music, with dining and shopping nearby. Public transit is accessible, and the listing identifies access to I-76 and I-95 and the airport. The building is handicapped accessible, and pets are permitted subject to stated limits of one cat and one dog under 40 pounds.
Key Highlights
- Open‑plan studio with wood cabinets, granite counters, laminate flooring, and a walk‑in shower
- Shared fitness center, laundry facilities, bike storage, and community room
- Lobby attendant and Wi‑Fi in the lobby seating area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,986
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$99,720
$99.7K
Cap Rate 7%
$71,229
$71.2K
Cap Rate 9%
$55,400
$55.4K
Market Conditions
NOI Build-Up for 317 SF
Gross rent
$9.6K $30.36/SF
− Vacancy
−$558 −$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%
$99,720
Cap Rate 7%
$71,229
Cap Rate 9%
$55,400
Alternative Uses
Best Use
Apartment 5plus
$71.2K
$62.3K – $83.1K
NOI $4,986 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$77.3K
$67.6K – $90.2K
NOI $5,410 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
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
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Frequently Asked Questions
What type of property is this?
Residential income property - The unit features an open layout, updated finishes, and access to shared building amenities.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 901 Philadelphia, PA.
What is the asking price?
The asking price for this property is $84,900.
What are key features of this property?
This property features: Open‑plan studio with wood cabinets, granite counters, laminate flooring, and a walk‑in shower; Shared fitness center, laundry facilities, bike storage, and community room; Lobby attendant and Wi‑Fi in the lobby seating area
