Studio Condominium with Hotel
For Sale
$205,000
1701 LOCUST STREET Unit 1717, Philadelphia, PA 19103
A compact residence features an open kitchen, in-unit laundry, and access to building services and hotel restaurants.
Property Size417 SF
Price / SF$491.61
Days on Market402
Property Features for 1701 LOCUST STREET Unit 1717
General Information
Standard status
Active
Size
417 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Road Access
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,985
Amenities
24-hour door-man service
state-of-the-art fitness room
use of three restaurants on the ground floor for additional fees
in-unit washer/dryer
Building Details
Building Size
417 SF
Year Built
1928
Listing Agency:
Allan Domb Real Estate
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Wagnerrealestate
Added: Sep 29, 2025
Changed: Nov 3
Last Checked: Nov 4 at 9:03AM
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 Allan Domb Real Estate
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Investment Insights
Based on property information with market context.
This studio condominium offers a combined living and dining area with an open kitchen fitted with wood cabinetry, black granite countertops, and stainless steel appliances. Oversized windows, hardwood flooring, decorative trim, and additional closet space are among the interior features. The bathroom has marble finishes, a wood vanity, and a glass-enclosed walk-in shower. A stacked washer and dryer are housed in a laundry closet.
Built in 1928, the building provides residents with 24-hour doorman service and access to a fitness room. Three restaurants on the ground floor are available for an additional fee. The residence may be occupied full time or used as a pied-à-terre.
Built in 1928, the building provides residents with 24-hour doorman service and access to a fitness room. Three restaurants on the ground floor are available for an additional fee. The residence may be occupied full time or used as a pied-à-terre.
Key Highlights
- 417‑square‑foot studio condominium
- Built in 1928
- Open kitchen with wood cabinetry, black granite countertops, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,559
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$131,180
$131.2K
Cap Rate 7%
$93,700
$93.7K
Cap Rate 9%
$72,878
$72.9K
Market Conditions
NOI Build-Up for 417 SF
Gross rent
$12.7K $30.36/SF
− Vacancy
−$734 −$1.76/SF
EGI
$11.9K $28.60/SF
− OpEx
−$5.4K −$12.87/SF
NOI
$6.6K $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%
$131,180
Cap Rate 7%
$93,700
Cap Rate 9%
$72,878
Alternative Uses
Best Use
Apartment 5plus
$93.7K
$82.0K – $109.3K
NOI $6,559 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$101.7K
$89.0K – $118.6K
NOI $7,116 @ 7.0% cap · market cap 3.47%
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
Paved road access
Location Intelligence
Trade Area within ½ mile
21,096
Businesses Nearby
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Business Placement
Demographics for 19103, PA
28,717
Population
20,064
Households
1.4
Avg Household Size
36
Median Age
81%
College-Educated
98%
High-School Grad
0.6 sq mi
ZIP Area
47,862
Density / Sq Mi
$97,940
Median Household Income
$76,680
Median Earnings
$1,955
Median Rent
$551,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A compact residence features an open kitchen, in-unit laundry, and access to building services and hotel restaurants.
Where is this residential income property located?
The property is located at 1701 LOCUST STREET Unit 1717 Philadelphia, PA.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: 417‑square‑foot studio condominium; Built in 1928; Open kitchen with wood cabinetry, black granite countertops, and stainless steel appliances
