Updated Residential Income
For Sale
$240,000
1420 LOCUST STREET Unit 6M, Philadelphia, PA 19102
One-bedroom condominium with renovated interiors, southern exposure, and in-unit laundry.
Property Size721 SF
Days on Market8
Property Features for 1420 LOCUST STREET Unit 6M
General Information
Standard status
Active
Size
721 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,979
Amenities
24-hour doorman service
fitness/aquatic center
in-unit washer and dryer
valet garage parking
Building Details
Building Size
721 SF
Year Built
1977
Tenancy
Single
Listing Agency:
KW Empower
(215) 837-0403
Listed By:
CONNOR GORMAN · License #RS350708
(215) 837-0403
Source:
Patmckennarealtors
Added: Jul 28
Changed: Aug 4
Last Checked: Aug 4 at 1:56AM
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
Investment Insights
Based on property information with market context.
This one-bedroom condominium in Academy House features a renovated kitchen with quartz countertops, subway tile backsplash, and stainless steel appliances. A tiled entry leads to hardwood flooring throughout the residence, with a combined living and dining room positioned for southern exposure. The bedroom includes two oversized closets, while the updated bathroom offers a large vanity and walk-in shower. An in-unit washer and dryer and included utilities add practical convenience.
Building services include 24-hour doorman coverage and access to a fitness and aquatic center through the condo fees. Valet garage parking is available for an additional monthly fee, subject to availability. The property is leased through 5/31/27 and is located at 1420 Locust Street in Philadelphia, within walking distance of Rittenhouse Square, Washington Square, the Broad and Market Street office corridors, the Kimmel Center, Philadelphia International Airport, and Amtrak’s 30th Street Station.
Building services include 24-hour doorman coverage and access to a fitness and aquatic center through the condo fees. Valet garage parking is available for an additional monthly fee, subject to availability. The property is leased through 5/31/27 and is located at 1420 Locust Street in Philadelphia, within walking distance of Rittenhouse Square, Washington Square, the Broad and Market Street office corridors, the Kimmel Center, Philadelphia International Airport, and Amtrak’s 30th Street Station.
Key Highlights
- One‑bedroom condominium at 1420 Locust Street, Unit 6M
- Renovated kitchen with quartz counters, subway tile backsplash, and stainless steel appliances
- Hardwood floors throughout with southern exposure overlooking the Kimmel Center
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.9k | $30.36 |
| − Vacancy | −$1.3k | −$1.76 |
| EGI | $20.6k | $28.60 |
| − OpEx | −$9.3k | −$12.87 |
| NOI | $11.3k | $15.73 |
721 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$162.0K
$141.8K – $189.0K
NOI $11,341 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$175.8K
$153.8K – $205.1K
NOI $12,304 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
25,331
Businesses Nearby
Explore this area
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
$412,200
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Philadelphia, PA
Properties on Market for Residential income properties in Philadelphia
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium with renovated interiors, southern exposure, and in-unit laundry.
Where is this residential income property located?
The property is located at 1420 LOCUST STREET Unit 6M Philadelphia, PA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: One‑bedroom condominium at 1420 Locust Street, Unit 6M; Renovated kitchen with quartz counters, subway tile backsplash, and stainless steel appliances; Hardwood floors throughout with southern exposure overlooking the Kimmel Center
