Two-Bedroom Residential Income
For Sale
$210,000
1324 LOCUST STREET Unit 207, Philadelphia, PA 19107
The 898-square-foot unit has an open kitchen and living area, two bedrooms, and access to building fitness and concierge services.
Property Size898 SF
Price / SF$233.85
Days on Market25
Property Features for 1324 LOCUST STREET Unit 207
General Information
Standard status
Active
Size
898 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,101
Amenities
24/7 concierge
fitness center
on-site laundry
community meeting rooms
passenger elevators
Building Details
Building Size
898 SF
Year Built
1900
Listing Agency:
OCF Realty LLC - Philadelphia
Listed By:
Andres Nicolini · License #RS337965
(484) 483-3114
Source:
Patmckennarealtors
Added: Sep 30
Changed: Oct 21
Last Checked: Oct 23 at 2:15PM
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 OCF Realty LLC - Philadelphia
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Inside the Arts Condominium, this 898-square-foot residence has two bedrooms and one bathroom. Hardwood floors and two coat closets sit near the entry. The kitchen opens to the living room across a raised breakfast bar and includes granite counters, cherry cabinetry, a tiled backsplash, a built-in microwave, refrigerator, and electric range. Two large windows bring natural light into the living space, and both bedrooms have closets.
The building dates to 1900 and provides a 24-hour front desk, secure entry, fitness center, laundry facilities, meeting rooms, and passenger elevators. The association fee covers electricity, gas, heat, air conditioning, water, sewer, trash, building insurance, cable TV, and the building alarm system.
The property is on Philadelphia’s Avenue of the Arts, near the Walnut-Locust SEPTA station. The Academy of Music and Kimmel Center for the Performing Arts are each a three-minute walk away. Washington Square West, Rittenhouse Square, Thomas Jefferson University Hospital, and Penn Medicine facilities are also identified as nearby destinations.
The building dates to 1900 and provides a 24-hour front desk, secure entry, fitness center, laundry facilities, meeting rooms, and passenger elevators. The association fee covers electricity, gas, heat, air conditioning, water, sewer, trash, building insurance, cable TV, and the building alarm system.
The property is on Philadelphia’s Avenue of the Arts, near the Walnut-Locust SEPTA station. The Academy of Music and Kimmel Center for the Performing Arts are each a three-minute walk away. Washington Square West, Rittenhouse Square, Thomas Jefferson University Hospital, and Penn Medicine facilities are also identified as nearby destinations.
Key Highlights
- 898‑square‑foot residence with two bedrooms and one bathroom
- Open kitchen with granite countertops, cherry cabinetry, tiled backsplash, and stainless steel appliances
- Two large living‑room windows; hardwood flooring and two entry coat closets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,125
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$282,500
$282.5K
Cap Rate 7%
$201,786
$201.8K
Cap Rate 9%
$156,944
$156.9K
Market Conditions
NOI Build-Up for 898 SF
Gross rent
$27.3K $30.36/SF
− Vacancy
−$1.6K −$1.76/SF
EGI
$25.7K $28.60/SF
− OpEx
−$11.6K −$12.87/SF
NOI
$14.1K $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%
$282,500
Cap Rate 7%
$201,786
Cap Rate 9%
$156,944
Alternative Uses
Best Use
Apartment 5plus
$201.8K
$176.6K – $235.4K
NOI $14,125 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$218.9K
$191.6K – $255.4K
NOI $15,324 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - The 898-square-foot unit has an open kitchen and living area, two bedrooms, and access to building fitness and concierge services.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 207 Philadelphia, PA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 898‑square‑foot residence with two bedrooms and one bathroom; Open kitchen with granite countertops, cherry cabinetry, tiled backsplash, and stainless steel appliances; Two large living‑room windows; hardwood flooring and two entry coat closets
