One-Bedroom Residential Income
For Sale
$139,900
1601 SPRING GARDEN STREET Unit 208, Philadelphia, PA 19130
First-floor residence with hardwood flooring, natural light, in-unit laundry, and access to building amenities.
Property Size537 SF
Price / SF$237.12
Days on Market467
Property Features for 1601 SPRING GARDEN STREET Unit 208
General Information
Standard status
Active
Size
537 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Highway Access
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,203
Amenities
concierge services
front desk security
atrium lobby
fitness center
in-unit washer and dryer
hardwood floors
additional storage
Building Details
Building Size
537 SF
Year Built
1832
Listing Agency:
OCF Realty LLC - Philadelphia
Listed By:
Gregg Kravitz · License #RS303432
(215) 353-7762
Source:
Patmckennarealtors
Added: Jul 23, 2025
Changed: Oct 31
Last Checked: Oct 30 at 10:28PM
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 OCF Realty LLC - Philadelphia
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Investment Insights
Based on property information with market context.
Set within the historic Colonnade building, this approximately 590-square-foot first-floor residence offers a one-bedroom layout with high ceilings, abundant windows, and hardwood flooring. The kitchen connects visually to the living room and includes granite countertops and stainless-steel features. A walk-in bedroom closet, hallway storage, built-in bathroom cabinetry, and an in-unit washer and dryer add practical functionality. Basement storage is also included.
The 1832 building provides concierge service, front desk security, an atrium lobby, a fitness center, and pet-friendly accommodations. The property offers access to Broad Street, I-676, and the Ben Franklin Parkway, with local universities, Boathouse Row, and the Art Museum nearby.
The 1832 building provides concierge service, front desk security, an atrium lobby, a fitness center, and pet-friendly accommodations. The property offers access to Broad Street, I-676, and the Ben Franklin Parkway, with local universities, Boathouse Row, and the Art Museum nearby.
Key Highlights
- Approximately 590 square feet in the largest one‑bedroom layout in the building
- First‑floor unit with high ceilings and abundant windows
- Granite kitchen countertops with stainless‑steel features
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,280
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$185,600
$185.6K
Cap Rate 7%
$132,571
$132.6K
Cap Rate 9%
$103,111
$103.1K
Market Conditions
NOI Build-Up for 590 SF
Gross rent
$17.9K $30.36/SF
− Vacancy
−$1.0K −$1.76/SF
EGI
$16.9K $28.60/SF
− OpEx
−$7.6K −$12.87/SF
NOI
$9.3K $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%
$185,600
Cap Rate 7%
$132,571
Cap Rate 9%
$103,111
Alternative Uses
Best Use
Apartment 5plus
$132.6K
$116.0K – $154.7K
NOI $9,280 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$143.8K
$125.9K – $167.8K
NOI $10,068 @ 7.0% cap · market cap 7.20%
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
Yes
Highway access
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 - First-floor residence with hardwood flooring, natural light, in-unit laundry, and access to building amenities.
Where is this residential income property located?
The property is located at 1601 SPRING GARDEN STREET Unit 208 Philadelphia, PA.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Approximately 590 square feet in the largest one‑bedroom layout in the building; First‑floor unit with high ceilings and abundant windows; Granite kitchen countertops with stainless‑steel features
