Residential Income
For Sale
$499,900
Pending
1420 Locust St #R4, Philadelphia, PA 19102
For sale apartment unit within an existing multifamily building setup in central Philadelphia.
Property Size2,142 SF
Days on Market143
Property Features for 1420 Locust St #R4
General Information
Standard status
Pending
Size
2,142 SF
Building Details
Year Built
1977
Listing Agency:
Allan Domb Real Estate
(215) 545-1500
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Evrealestate
Added: Mar 16
Changed: Jul 6
Last Checked: Aug 5 at 6:07AM
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
Investment Insights
Based on property information with market context.
This offering is a residential income unit located at 1420 Locust St, identified as unit R4. The property is categorized as an apartment building and multifamily property, suitable for buyers seeking to own within an existing residential income structure.
Access is provided through the Academy House arcade at 1420 Locust Street. The listing is in Philadelphia County/Parish.
As a unit within a multifamily building, this may fit buyers looking for residential income exposure through a specific apartment unit rather than a standalone building. The available information focuses on the unit location and building context, so prospective buyers should plan to review unit-specific details such as layout, condition, and any building policies that may apply. For sale terms are provided in the listing dataset, and buyers can coordinate directly to confirm the full offering parameters for unit R4.
Access is provided through the Academy House arcade at 1420 Locust Street. The listing is in Philadelphia County/Parish.
As a unit within a multifamily building, this may fit buyers looking for residential income exposure through a specific apartment unit rather than a standalone building. The available information focuses on the unit location and building context, so prospective buyers should plan to review unit-specific details such as layout, condition, and any building policies that may apply. For sale terms are provided in the listing dataset, and buyers can coordinate directly to confirm the full offering parameters for unit R4.
Key Highlights
- Apartment unit for sale within an existing multifamily building in central Philadelphia
- Building was built in 1977
- Directions: Enter through the Academy House arcade at 1420 Locust Street
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 | $65.0k | $30.36 |
| − Vacancy | −$3.8k | −$1.76 |
| EGI | $61.3k | $28.60 |
| − OpEx | −$27.6k | −$12.87 |
| NOI | $33.7k | $15.73 |
2,142 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$481.3K
$421.2K – $561.6K
NOI $33,693 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$522.2K
$456.9K – $609.2K
NOI $36,553 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - For sale apartment unit within an existing multifamily building setup in central Philadelphia.
Where is this apartment building located?
The property is located at 1420 Locust St #R4 Philadelphia, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Apartment unit for sale within an existing multifamily building in central Philadelphia; Building was built in 1977; Directions: Enter through the Academy House arcade at 1420 Locust Street
