Studio Residential Income
For Sale
$77,000
1324 LOCUST STREET Unit 501, Philadelphia, PA 19107
Fifth-floor condominium unit with a kitchenette, private bathroom, closet, and current tenant occupancy.
Property Size318 SF
Days on Market61
Property Features for 1324 LOCUST STREET Unit 501
General Information
Standard status
Active
Size
318 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Units
Unit Mix
1 x studio
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,023
Amenities
24hr security
gym
laundry room
mail room
bike storage
community room
Building Details
Building Size
318 SF
Year Built
1900
Tenancy
Single
Listing Agency:
KW Empower
Listed By:
alaina bernstein · License #RS354405
(267) 918-0186
Source:
Patmckennarealtors
Added: Sep 2
Changed: Oct 31
Last Checked: Nov 1 at 12:50PM
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 KW Empower
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Investment Insights
Based on property information with market context.
This studio condominium unit is located on the fifth floor of a 1900 building and includes a bathroom with a stand-up shower, kitchenette, and closet. The unit is tenant occupied, and HOA dues include all utilities. Building amenities include 24hr security, a gym, laundry room, mail room, bike storage, and a community room.
The property is near schools and Jefferson Hospital, with access to the Broad Street Line, Market-Frankford Line, PATCO Highspeed Line, and bus lines. Rittenhouse Square, Washington Square West, and Old City are a few blocks away, with museums, shops, theaters, and restaurants nearby. The unit may be used as a primary residence or investment property.
The property is near schools and Jefferson Hospital, with access to the Broad Street Line, Market-Frankford Line, PATCO Highspeed Line, and bus lines. Rittenhouse Square, Washington Square West, and Old City are a few blocks away, with museums, shops, theaters, and restaurants nearby. The unit may be used as a primary residence or investment property.
Key Highlights
- Tenant‑occupied studio on the 5th floor
- Bathroom with stand‑up shower, kitchenette, and closet
- HOA includes all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,002
Cap Rate
6.50%
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 6.50%
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 7.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
1
Residential units
Single-tenant
Tenancy
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 - Fifth-floor condominium unit with a kitchenette, private bathroom, closet, and current tenant occupancy.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 501 Philadelphia, PA.
What is the asking price?
The asking price for this property is $77,000.
What are key features of this property?
This property features: Tenant‑occupied studio on the 5th floor; Bathroom with stand‑up shower, kitchenette, and closet; HOA includes all utilities
