Updated One-Bedroom Income
For Sale
$189,900
Pending
1420 LOCUST STREET Unit 17B, Philadelphia, PA 19102
Light-filled residence with an open kitchen, oversized windows, wood floors, and access to building fitness and aquatic facilities.
Property Size521 SF
Days on Market138
Property Features for 1420 LOCUST STREET Unit 17B
General Information
Standard status
Pending
Size
521 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Taxes and HOA fees
Annual Taxes
$2,536
Building Details
Building Size
521 SF
Year Built
1977
Listing Agency:
Allan Domb Real Estate
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Patmckennarealtors
Added: Jun 17
Changed: Oct 31
Last Checked: Nov 1 at 2:41PM
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 updated one-bedroom residence at Academy House features a foyer with a large coat closet, an open kitchen, and a combined living and dining area. Full-size appliances, wood cabinetry, track lighting, and oversized windows contribute to the interior layout, while wood flooring extends through the common areas. The bedroom includes a large wall closet and substantial natural light. An adjoining bathroom offers a modern vanity, tub shower, and tile flooring.
Academy House provides 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, with access to Philadelphia International Airport and Amtrak's 30th Street Station.
Academy House provides 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, with access to Philadelphia International Airport and Amtrak's 30th Street Station.
Key Highlights
- Updated one‑bedroom residence at Academy House
- Sunrise city views and oversized windows
- Open kitchen with full‑size appliances and wood cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,195
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$163,900
$163.9K
Cap Rate 7%
$117,071
$117.1K
Cap Rate 9%
$91,056
$91.1K
Market Conditions
NOI Build-Up for 521 SF
Gross rent
$15.8K $30.36/SF
− Vacancy
−$917 −$1.76/SF
EGI
$14.9K $28.60/SF
− OpEx
−$6.7K −$12.87/SF
NOI
$8.2K $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%
$163,900
Cap Rate 7%
$117,071
Cap Rate 9%
$91,056
Alternative Uses
Best Use
Apartment 5plus
$117.1K
$102.4K – $136.6K
NOI $8,195 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$127.0K
$111.1K – $148.2K
NOI $8,891 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
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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 - Light-filled residence with an open kitchen, oversized windows, wood floors, and access to building fitness and aquatic facilities.
Where is this residential income property located?
The property is located at 1420 LOCUST STREET Unit 17B Philadelphia, PA.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Updated one‑bedroom residence at Academy House; Sunrise city views and oversized windows; Open kitchen with full‑size appliances and wood cabinetry
