Residential Income Property with
For Sale
$269,900
1420 LOCUST STREET Unit 14P, Philadelphia, PA 19102
South-facing one-bedroom residence with oversized windows, hardwood floors, and stacked laundry equipment.
Property Size724 SF
Days on Market293
Property Features for 1420 LOCUST STREET Unit 14P
General Information
Standard status
Active
Size
724 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Taxes and HOA fees
Annual Taxes
$3,653
Building Details
Building Size
724 SF
Year Built
1977
Listing Agency:
Allan Domb Real Estate
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Patmckennarealtors
Added: Jan 12
Changed: Oct 31
Last Checked: Nov 1 at 2:53PM
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 Allan Domb Real Estate
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Investment Insights
Based on property information with market context.
This south-facing one-bedroom residential income property at Academy House features a private French balcony, oversized windows, and hardwood floors throughout. The foyer includes a coat closet and opens to a great room with room for living and dining. The galley kitchen has white appliances, tile flooring, and substantial cabinet and counter space. The bedroom offers a large wall closet and a walk-in closet, while the adjacent bathroom includes a white vanity, tub shower, tile floor, and laundry closet with a stacked washer and dryer.
Academy House residents have access to a 24-hour doorman and a fitness and aquatic center. Valet parking is available in the building garage for an additional monthly fee, subject to availability. The property is within walking distance of Rittenhouse Square, Washington Square, and the Broad Street and Market Street office corridors. Philadelphia International Airport and Amtrak’s 30th Street Station are also accessible.
Academy House residents have access to a 24-hour doorman and a fitness and aquatic center. Valet parking is available in the building garage for an additional monthly fee, subject to availability. The property is within walking distance of Rittenhouse Square, Washington Square, and the Broad Street and Market Street office corridors. Philadelphia International Airport and Amtrak’s 30th Street Station are also accessible.
Key Highlights
- South‑facing one‑bedroom layout with private French balcony
- Oversized windows provide abundant natural light and southern city views
- Galley kitchen with white appliances, tile flooring, and ample cabinet space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,388
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,760
$227.8K
Cap Rate 7%
$162,686
$162.7K
Cap Rate 9%
$126,533
$126.5K
Market Conditions
NOI Build-Up for 724 SF
Gross rent
$22.0K $30.36/SF
− Vacancy
−$1.3K −$1.76/SF
EGI
$20.7K $28.60/SF
− OpEx
−$9.3K −$12.87/SF
NOI
$11.4K $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%
$227,760
Cap Rate 7%
$162,686
Cap Rate 9%
$126,533
Alternative Uses
Best Use
Apartment 5plus
$162.7K
$142.4K – $189.8K
NOI $11,388 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$176.5K
$154.4K – $205.9K
NOI $12,355 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Location Intelligence
Trade Area within ½ mile
25,331
Businesses Nearby
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Business Placement
Demographics for 19102, PA
7,568
Population
4,606
Households
1.6
Avg Household Size
32
Median Age
87%
College-Educated
98%
High-School Grad
0.2 sq mi
ZIP Area
37,840
Density / Sq Mi
$114,844
Median Household Income
$79,552
Median Earnings
$2,249
Median Rent
$412,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - South-facing one-bedroom residence with oversized windows, hardwood floors, and stacked laundry equipment.
Where is this residential income property located?
The property is located at 1420 LOCUST STREET Unit 14P Philadelphia, PA.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: South‑facing one‑bedroom layout with private French balcony; Oversized windows provide abundant natural light and southern city views; Galley kitchen with white appliances, tile flooring, and ample cabinet space
