High-Floor Residential Income
For Sale
$259,900
1420 LOCUST STREET Unit 8O, Philadelphia, PA 19102
Renovated one-bedroom residence with a private Juliet balcony, separate kitchen, and access to full-service building amenities.
Property Size726 SF
Days on Market300
Property Features for 1420 LOCUST STREET Unit 8O
General Information
Standard status
Active
Size
726 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,507
Amenities
24-hour doorman
fitness center
aquatic center
valet parking
Building Details
Building Size
726 SF
Year Built
1977
Listing Agency:
Allan Domb Real Estate
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Patmckennarealtors
Added: Jan 5
Changed: Oct 31
Last Checked: Nov 1 at 2:35PM
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.
Located on a high floor at Academy House, this renovated one-bedroom residence features hardwood flooring, a combined living and dining area, and a private Juliet balcony with city views. The separate kitchen includes tile flooring, cabinetry, and stainless steel appliances. The bedroom offers a walk-in closet, while the adjacent bathroom includes a single vanity, shower/tub, and washer/dryer.
Academy House provides a 24-hour doorman, fitness and aquatic facilities, and valet parking in the building garage, subject to availability. The property is positioned in Center City near 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 from the building.
Academy House provides a 24-hour doorman, fitness and aquatic facilities, and valet parking in the building garage, subject to availability. The property is positioned in Center City near 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 from the building.
Key Highlights
- Renovated one‑bedroom residence on a high floor
- Private Juliet balcony with city views
- Combined living and dining area with hardwood flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,420
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$228,400
$228.4K
Cap Rate 7%
$163,143
$163.1K
Cap Rate 9%
$126,889
$126.9K
Market Conditions
NOI Build-Up for 726 SF
Gross rent
$22.0K $30.36/SF
− Vacancy
−$1.3K −$1.76/SF
EGI
$20.8K $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%
$228,400
Cap Rate 7%
$163,143
Cap Rate 9%
$126,889
Alternative Uses
Best Use
Apartment 5plus
$163.1K
$142.8K – $190.3K
NOI $11,420 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$177.0K
$154.9K – $206.5K
NOI $12,389 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
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 - Renovated one-bedroom residence with a private Juliet balcony, separate kitchen, and access to full-service building amenities.
Where is this residential income property located?
The property is located at 1420 LOCUST STREET Unit 8O Philadelphia, PA.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Renovated one‑bedroom residence on a high floor; Private Juliet balcony with city views; Combined living and dining area with hardwood flooring
