One-Bedroom Condominium
For Sale
$175,000
1601 SPRING GARDEN STREET Unit M108, Philadelphia, PA 19130
Mezzanine-level home with an open living area, in-unit laundry, and access to shared building amenities.
Property Size680 SF
Days on Market35
Property Features for 1601 SPRING GARDEN STREET Unit M108
General Information
Standard status
Active
Size
680 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Taxes and HOA fees
Annual Taxes
$2,900
Building Details
Building Size
680 SF
Year Built
1832
Listing Agency:
KW Empower
Listed By:
Rayma Abdallah
(610) 470-7559
Source:
Patmckennarealtors
Added: Sep 28
Changed: Oct 31
Last Checked: Oct 31 at 12:01AM
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 KW Empower
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Investment Insights
Based on property information with market context.
This mezzanine-level residence has one bedroom and one bathroom, with an open living and dining area adjoining a kitchen equipped with white cabinetry, granite counters, an electric range, microwave, refrigerator, and dishwasher. The bedroom includes a mirrored closet and carpet; the bath has a tub and shower. Two storage closets, an entry nook, and a dedicated laundry alcove with a washer and dryer add practical storage and utility. Tall multi-pane windows and high ceilings are among the interior features. The building dates to 1832 and offers a fitness center, furnished lounge, conference room, bike racks, package lockers, a dog area, and 24-hour security.
The property is in Spring Garden, near Fairmount, the Art Museum, and Benjamin Franklin Parkway. Nearby transportation options include the Broad Street Line and SEPTA bus service, with I-676 and I-76 providing road connections. Fairmount Park, the Schuylkill River Trail, museums, restaurants, and cafes are also in the surrounding area.
The property is in Spring Garden, near Fairmount, the Art Museum, and Benjamin Franklin Parkway. Nearby transportation options include the Broad Street Line and SEPTA bus service, with I-676 and I-76 providing road connections. Fairmount Park, the Schuylkill River Trail, museums, restaurants, and cafes are also in the surrounding area.
Key Highlights
- One‑bedroom, one‑bath residence on the mezzanine level
- Kitchen includes granite countertops and electric range, microwave, refrigerator, and dishwasher
- Dedicated laundry alcove with washer and dryer; two additional storage closets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,696
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$213,920
$213.9K
Cap Rate 7%
$152,800
$152.8K
Cap Rate 9%
$118,844
$118.8K
Market Conditions
NOI Build-Up for 680 SF
Gross rent
$20.6K $30.36/SF
− Vacancy
−$1.2K −$1.76/SF
EGI
$19.4K $28.60/SF
− OpEx
−$8.8K −$12.87/SF
NOI
$10.7K $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 Rate 5%
$213,920
Cap Rate 7%
$152,800
Cap Rate 9%
$118,844
Alternative Uses
Best Use
Apartment 5plus
$152.8K
$133.7K – $178.3K
NOI $10,696 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$165.8K
$145.1K – $193.4K
NOI $11,604 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
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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 - Mezzanine-level home with an open living area, in-unit laundry, and access to shared building amenities.
Where is this residential income property located?
The property is located at 1601 SPRING GARDEN STREET Unit M108 Philadelphia, PA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath residence on the mezzanine level; Kitchen includes granite countertops and electric range, microwave, refrigerator, and dishwasher; Dedicated laundry alcove with washer and dryer; two additional storage closets
