Residential Income Property with
New
For Sale
$129,900
1601 SPRING GARDEN STREET Unit 205, Philadelphia, PA 19130
This one-bedroom residence combines generous storage with oversized windows and high ceilings.
Property Size543 SF
Price / SF$239.23
Days on Market4
Property Features for 1601 SPRING GARDEN STREET Unit 205
General Information
Standard status
Active
Size
543 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,463
Amenities
24-hour security
concierge service
fitness center
basement storage
secure bike room
Building Details
Building Size
543 SF
Year Built
1832
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Galya Globerman · License #RS377941
(215) 433-2123
Source:
Patmckennarealtors
Added: Oct 29
Changed: Oct 31
Last Checked: Oct 31 at 3:24AM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
Unit 205 at The Colonnade is a 543-square-foot residence with one bedroom and one bathroom. Oversized windows and high ceilings shape the interior, while storage is provided within the unit and in the building’s basement. The property was built in 1832.
Building amenities include a fitness center, secure bicycle room, 24-hour security, and concierge service. The Philadelphia Museum of Art, Barnes Foundation, Kelly Drive, and Boathouse Row are described as being steps away. Shopping, dining, nightlife, public transportation, and universities are also nearby.
Building amenities include a fitness center, secure bicycle room, 24-hour security, and concierge service. The Philadelphia Museum of Art, Barnes Foundation, Kelly Drive, and Boathouse Row are described as being steps away. Shopping, dining, nightlife, public transportation, and universities are also nearby.
Key Highlights
- 543‑square‑foot residence with one bedroom and one bathroom
- Oversized windows, high ceilings, and in‑unit storage
- Building amenities include 24‑hour security, concierge service, and a fitness center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,541
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$170,820
$170.8K
Cap Rate 7%
$122,014
$122.0K
Cap Rate 9%
$94,900
$94.9K
Market Conditions
NOI Build-Up for 543 SF
Gross rent
$16.5K $30.36/SF
− Vacancy
−$956 −$1.76/SF
EGI
$15.5K $28.60/SF
− OpEx
−$7.0K −$12.87/SF
NOI
$8.5K $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%
$170,820
Cap Rate 7%
$122,014
Cap Rate 9%
$94,900
Alternative Uses
Best Use
Apartment 5plus
$122.0K
$106.8K – $142.4K
NOI $8,541 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$132.4K
$115.8K – $154.4K
NOI $9,266 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,435
Businesses Nearby
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Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - This one-bedroom residence combines generous storage with oversized windows and high ceilings.
Where is this residential income property located?
The property is located at 1601 SPRING GARDEN STREET Unit 205 Philadelphia, PA.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: 543‑square‑foot residence with one bedroom and one bathroom; Oversized windows, high ceilings, and in‑unit storage; Building amenities include 24‑hour security, concierge service, and a fitness center
