Renovated Residential Income
For Sale
$71,900
1324 LOCUST STREET #1529, Philadelphia, PA 19107
Condominium residence with an open plan, finished basement, and convenient access to rail, subway, and bus service.
Property Size394 SF
Price / SF$182.49
Days on Market36
Property Features for 1324 LOCUST STREET #1529
General Information
Standard status
Active
Size
394 SF
Property subtype
Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Additional Details
Multifamily Units
1
Building Details
Year Built
1910
Year Renovated
2010
Construction
brick and concrete
Listing Agency:
Liberty Real Estate
(215) 625-4725
Listed By:
Richard Q Li · License #RM421130
(267) 767-7612
Source:
Cummingsrealtors
Added: Sep 19
Changed: Oct 23
Last Checked: Oct 23 at 9:56AM
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 Liberty Real Estate
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Investment Insights
Based on property information with market context.
This residential income property is a condominium unit at 1324 Locust Street in Philadelphia. The building dates to 1910 and underwent renovation in 2010. Interior features include an open layout, expansive windows, brick and concrete construction, and a finished basement with heating and improved interior access. The basement provides additional flexible space within the unit.
Transportation options include a Metro/Subway station, commuter rail, and bus stop within a mile. Parking is available through off-street spaces, a parking garage, and a parking lot, with capacity for up to 500 vehicles. The property is identified as unit #1529 and has a listed property size of 394.
Transportation options include a Metro/Subway station, commuter rail, and bus stop within a mile. Parking is available through off-street spaces, a parking garage, and a parking lot, with capacity for up to 500 vehicles. The property is identified as unit #1529 and has a listed property size of 394.
Key Highlights
- 1910 building with renovation completed in 2010
- Finished basement with heating and improved interior access
- Open interior layout with expansive windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,197
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$123,940
$123.9K
Cap Rate 7%
$88,529
$88.5K
Cap Rate 9%
$68,856
$68.9K
Market Conditions
NOI Build-Up for 394 SF
Gross rent
$12.0K $30.36/SF
− Vacancy
−$694 −$1.76/SF
EGI
$11.3K $28.60/SF
− OpEx
−$5.1K −$12.87/SF
NOI
$6.2K $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%
$123,940
Cap Rate 7%
$88,529
Cap Rate 9%
$68,856
Alternative Uses
Best Use
Apartment 5plus
$88.5K
$77.5K – $103.3K
NOI $6,197 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$96.1K
$84.1K – $112.1K
NOI $6,724 @ 7.0% cap · market cap 9.35%
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 - Condominium residence with an open plan, finished basement, and convenient access to rail, subway, and bus service.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET #1529 Philadelphia, PA.
What is the asking price?
The asking price for this property is $71,900.
What are key features of this property?
This property features: 1910 building with renovation completed in 2010; Finished basement with heating and improved interior access; Open interior layout with expansive windows
