Residential Income Property with
For Sale
$420,000
1513 CHRISTIAN STREET #4, Philadelphia, PA 19146
Two-bedroom, two-bath condominium unit with contemporary finishes, rooftop skyline views, and included garage parking.
Property Size1,000 SF
Days on Market218
Property Features for 1513 CHRISTIAN STREET #4
General Information
Standard status
Active
Size
1,000 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
roof deck
in-unit washer and dryer
90% Forced Air
Central A/C
Building Details
Building Size
1,000 SF
Year Built
2022
Listed By:
Gianna Ginnetti
(267) 236-3900
Source:
Kw
Added: Feb 3
Changed: Sep 8
Last Checked: Sep 8 at 10:58AM
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 Gianna Ginnetti
Investment Insights
Based on property information with market context.
Unit 4 is a two-bedroom, two-bath condominium completed in 2022 within a boutique residential building. The interior includes an atrium that brings in natural light, engineered hardwood flooring, Porcelanosa kitchen and vanity finishes, Delta fixtures, GE appliances, California Closets systems, and an in-unit washer and dryer. Central A/C and 90% Forced Air support year-round comfort, while one-car parking is included.
A shared roof deck provides Center City skyline views. The property is located at 1513 Christian Street in Philadelphia’s Graduate Hospital neighborhood, with walkable access to Rittenhouse Square, Center City, Schuylkill River Park, Target, Sprouts, Sidecar Bar & Grille, and Loco Pez. Major highways and bridges are readily accessible, and seven years remain on the tax abatement.
A shared roof deck provides Center City skyline views. The property is located at 1513 Christian Street in Philadelphia’s Graduate Hospital neighborhood, with walkable access to Rittenhouse Square, Center City, Schuylkill River Park, Target, Sprouts, Sidecar Bar & Grille, and Loco Pez. Major highways and bridges are readily accessible, and seven years remain on the tax abatement.
Key Highlights
- Two‑bedroom, two‑bath Unit 4 completed in 2022
- One‑car parking included with the condominium
- Roof deck with Center City skyline views
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,730
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$314,600
$314.6K
Cap Rate 7%
$224,714
$224.7K
Cap Rate 9%
$174,778
$174.8K
Market Conditions
NOI Build-Up for 1,000 SF
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.
Gross rent
$30.4K $30.36/SF
− Vacancy
−$1.8K −$1.76/SF
EGI
$28.6K $28.60/SF
− OpEx
−$12.9K −$12.87/SF
NOI
$15.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$314,600
Cap Rate 7%
$224,714
Cap Rate 9%
$174,778
Alternative Uses
Best Use
Apartment 5plus
$224.7K
$196.6K – $262.2K
NOI $15,730 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$243.8K
$213.3K – $284.4K
NOI $17,065 @ 7.0% cap · market cap 4.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7,636
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath condominium unit with contemporary finishes, rooftop skyline views, and included garage parking.
Where is this residential income property located?
The property is located at 1513 CHRISTIAN STREET #4 Philadelphia, PA.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath Unit 4 completed in 2022; One‑car parking included with the condominium; Roof deck with Center City skyline views
