Top-Floor Residential
New
For Sale
$140,000
1601 SPRING GARDEN STREET Unit 501, Philadelphia, PA 19130
Building amenities include a fitness center, bike room, two elevators, and on-site property management.
Property Size500 SF
Days on Market6
Property Features for 1601 SPRING GARDEN STREET Unit 501
General Information
Standard status
Active
Size
500 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
Taxes and HOA fees
Annual Taxes
$2,320
Amenities
stacked washer/dryer
secure entry
on-site property management
expansive lobby
fitness center
bike room
Building Details
Building Size
500 SF
Year Built
1832
Listing Agency:
JG Real Estate LLC
Listed By:
Yadira Toledo · License #RS338110
(215) 313-1512
Source:
Patmckennarealtors
Added: Oct 27
Changed: Nov 1
Last Checked: Nov 1 at 3:54PM
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 JG Real Estate LLC
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Investment Insights
Based on property information with market context.
This Philadelphia condominium is a top-floor, one-bedroom, one-bathroom unit with an L-shaped living and dining area, a galley kitchen, and a dedicated laundry closet. The kitchen includes a refrigerator, electric range and oven, microwave, and dishwasher. The bathroom has a tiled shower and a vanity with storage. Windows in the living area and bedroom provide natural light. The building dates to 1832 and has secure entry, an expansive lobby, two elevators, a fitness center, and a bike room.
The property is in Philadelphia’s Spring Garden neighborhood, with Center City, public transportation, restaurants, cafes, parks, and shopping within easy reach.
The property is in Philadelphia’s Spring Garden neighborhood, with Center City, public transportation, restaurants, cafes, parks, and shopping within easy reach.
Key Highlights
- Top‑floor one‑bedroom, one‑bathroom condominium
- L‑shaped living and dining area with three large windows
- Kitchen includes a refrigerator, electric range/oven, microwave, and dishwasher
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,865
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$157,300
$157.3K
Cap Rate 7%
$112,357
$112.4K
Cap Rate 9%
$87,389
$87.4K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$15.2K $30.36/SF
− Vacancy
−$880 −$1.76/SF
EGI
$14.3K $28.60/SF
− OpEx
−$6.4K −$12.87/SF
NOI
$7.9K $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%
$157,300
Cap Rate 7%
$112,357
Cap Rate 9%
$87,389
Alternative Uses
Best Use
Apartment 5plus
$112.4K
$98.3K – $131.1K
NOI $7,865 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$121.9K
$106.7K – $142.2K
NOI $8,532 @ 7.0% cap · market cap 6.09%
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 - Building amenities include a fitness center, bike room, two elevators, and on-site property management.
Where is this residential income property located?
The property is located at 1601 SPRING GARDEN STREET Unit 501 Philadelphia, PA.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Top‑floor one‑bedroom, one‑bathroom condominium; L‑shaped living and dining area with three large windows; Kitchen includes a refrigerator, electric range/oven, microwave, and dishwasher
