High-Rise Residential Income
New
For Sale
$69,500
1324 LOCUST STREET #814, Philadelphia, PA 19107
The unit includes a full bathroom, with fitness, concierge, and security services available through the association.
Property Size382 SF
Price / SF$181.94
Days on Market6
Property Features for 1324 LOCUST STREET #814
General Information
Standard status
Active
Size
382 SF
Property subtype
Apartment
Site & Location
Neighborhood
Center City
Utilities to Site
Yes
Additional Details
Multifamily Units
1
Amenities
fitness center
concierge services
security
Building Details
Year Built
1900
Construction
masonry
Listing Agency:
Homestarr Realty
(215) 355-5565
Listed By:
Carl H Israel · License #RS383384
(267) 972-6206
Source:
Cummingsrealtors
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 9:18AM
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 Homestarr Realty
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Investment Insights
Based on property information with market context.
This residential income unit is in a masonry high-rise built in 1900. It offers 382 finished square feet and a full bathroom. Association amenities include a fitness center, concierge services, and security. Electricity, water, and trash are included with the unit; parking is not provided.
Located at 1324 Locust Street in Philadelphia, the property is identified as Unit 814.
Located at 1324 Locust Street in Philadelphia, the property is identified as Unit 814.
Key Highlights
- 382 finished square feet in a high‑rise built in 1900
- Full bathroom
- Association fitness center, concierge services, and security
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,009
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$120,180
$120.2K
Cap Rate 7%
$85,843
$85.8K
Cap Rate 9%
$66,767
$66.8K
Market Conditions
NOI Build-Up for 382 SF
Gross rent
$11.6K $30.36/SF
− Vacancy
−$673 −$1.76/SF
EGI
$10.9K $28.60/SF
− OpEx
−$4.9K −$12.87/SF
NOI
$6.0K $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%
$120,180
Cap Rate 7%
$85,843
Cap Rate 9%
$66,767
Alternative Uses
Best Use
Apartment 5plus
$85.8K
$75.1K – $100.2K
NOI $6,009 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$93.1K
$81.5K – $108.7K
NOI $6,519 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Utilities to site
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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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - The unit includes a full bathroom, with fitness, concierge, and security services available through the association.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET #814 Philadelphia, PA.
What is the asking price?
The asking price for this property is $69,500.
What are key features of this property?
This property features: 382 finished square feet in a high‑rise built in 1900; Full bathroom; Association fitness center, concierge services, and security
