Residential Income Condo with
For Sale
$159,900
1601 SPRING GARDEN STREET Unit 318, Philadelphia, PA 19130
Updated kitchen and bathroom finishes accompany an efficient one-bedroom layout with furnishings included in the sale.
Property Size392 SF
Price / SF$407.91
Days on Market389
Property Features for 1601 SPRING GARDEN STREET Unit 318
General Information
Standard status
Active
Size
392 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$2,127
Amenities
24-hour security
concierge services
basement storage
exercise room
bike storage
Building Details
Building Size
392 SF
Year Built
1832
Listing Agency:
Real of Pennsylvania
Listed By:
Sabina Sultanova · License #RS359819
(267) 981-9428
Source:
Wagnerrealestate
Added: Oct 9, 2025
Changed: Nov 1
Last Checked: Nov 1 at 4:02PM
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 Real of Pennsylvania
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Investment Insights
Based on property information with market context.
This 392-square-foot residential income condo has one bedroom and one bathroom, with 12-foot ceilings and hardwood flooring. Recent work refreshed the kitchen and bathroom; the kitchen includes an electric stove, dishwasher, refrigerator, and breakfast bar. Furnishings currently in the unit convey with the sale. The building dates to 1832.
Building amenities include 24-hour security, concierge service, elevator access, basement storage, an exercise room, and bicycle storage. Pets are permitted. The property is near the Philadelphia Museum of Art, Barnes Museum, Ben Franklin Parkway, Kelly Drive, and Boathouse Row, with public transportation, shopping, and restaurants nearby.
Building amenities include 24-hour security, concierge service, elevator access, basement storage, an exercise room, and bicycle storage. Pets are permitted. The property is near the Philadelphia Museum of Art, Barnes Museum, Ben Franklin Parkway, Kelly Drive, and Boathouse Row, with public transportation, shopping, and restaurants nearby.
Key Highlights
- 392‑square‑foot condo with one bedroom and one bathroom
- 12‑foot ceilings and hardwood flooring
- Updated kitchen with electric stove, dishwasher, refrigerator, and breakfast bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,166
Cap Rate
3.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$123,320
$123.3K
Cap Rate 7%
$88,086
$88.1K
Cap Rate 9%
$68,511
$68.5K
Market Conditions
NOI Build-Up for 392 SF
Gross rent
$11.9K $30.36/SF
− Vacancy
−$690 −$1.76/SF
EGI
$11.2K $28.60/SF
− OpEx
−$5.0K −$12.87/SF
NOI
$6.2K $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%
$123,320
Cap Rate 7%
$88,086
Cap Rate 9%
$68,511
Alternative Uses
Best Use
Apartment 5plus
$88.1K
$77.1K – $102.8K
NOI $6,166 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$95.6K
$83.6K – $111.5K
NOI $6,689 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
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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 - Updated kitchen and bathroom finishes accompany an efficient one-bedroom layout with furnishings included in the sale.
Where is this residential income property located?
The property is located at 1601 SPRING GARDEN STREET Unit 318 Philadelphia, PA.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: 392‑square‑foot condo with one bedroom and one bathroom; 12‑foot ceilings and hardwood flooring; Updated kitchen with electric stove, dishwasher, refrigerator, and breakfast bar
