Studio Residential Income
For Sale
$107,000
1324 LOCUST STREET Unit 619, Philadelphia, PA 19107
Four windows, high ceilings, and a compact kitchenette shape the unit’s open interior.
Property Size343 SF
Price / SF$311.95
Days on Market12
Property Features for 1324 LOCUST STREET Unit 619
General Information
Standard status
Active
Size
343 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,220
Amenities
24-hour front desk
secured entry
fitness center
resident lounge
on-site laundry
Building Details
Building Size
343 SF
Year Built
1900
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Sophie Claire Grady · License #RS367769
(267) 455-3151
Source:
Patmckennarealtors
Added: Oct 13
Changed: Oct 21
Last Checked: Oct 23 at 4:59PM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
This 343-square-foot corner studio at The Arts Condominium has an open floor plan, high ceilings, and four large windows. Wood-look flooring and decorative wall details finish the main living area. The kitchenette is equipped with a two-burner cooktop, built-in microwave, and compact refrigerator; a full bathroom has a tub and tiled surround. The building dates to 1900 and provides secured entry, a 24-hour front desk, elevators, a fitness center, resident lounge, and on-site laundry.
The property is at 1324 Locust Street in Philadelphia, near Midtown Village and the Avenue of the Arts. Dining, retail, theaters, cultural destinations, and public transportation are nearby. The condo fee covers electricity, heat, water, sewer, cable TV, and common-area maintenance. Pets are allowed subject to building restrictions.
The property is at 1324 Locust Street in Philadelphia, near Midtown Village and the Avenue of the Arts. Dining, retail, theaters, cultural destinations, and public transportation are nearby. The condo fee covers electricity, heat, water, sewer, cable TV, and common-area maintenance. Pets are allowed subject to building restrictions.
Key Highlights
- 343‑square‑foot corner studio with four large windows and high ceilings
- Kitchenette includes a two‑burner cooktop, built‑in microwave, and compact refrigerator
- Full bathroom with tub and tiled surround
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,395
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$107,900
$107.9K
Cap Rate 7%
$77,071
$77.1K
Cap Rate 9%
$59,944
$59.9K
Market Conditions
NOI Build-Up for 343 SF
Gross rent
$10.4K $30.36/SF
− Vacancy
−$604 −$1.76/SF
EGI
$9.8K $28.60/SF
− OpEx
−$4.4K −$12.87/SF
NOI
$5.4K $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%
$107,900
Cap Rate 7%
$77,071
Cap Rate 9%
$59,944
Alternative Uses
Best Use
Apartment 5plus
$77.1K
$67.4K – $89.9K
NOI $5,395 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$83.6K
$73.2K – $97.6K
NOI $5,853 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Four windows, high ceilings, and a compact kitchenette shape the unit’s open interior.
Where is this residential income property located?
The property is located at 1324 LOCUST STREET Unit 619 Philadelphia, PA.
What is the asking price?
The asking price for this property is $107,000.
What are key features of this property?
This property features: 343‑square‑foot corner studio with four large windows and high ceilings; Kitchenette includes a two‑burner cooktop, built‑in microwave, and compact refrigerator; Full bathroom with tub and tiled surround
