Residential Income Property with Rooftop
For Sale
$235,000
1901 JOHN F KENNEDY BOULEVARD Unit 1602, Philadelphia, PA 19103
Cooperative one-bedroom residence with concierge service, security, and extensive shared amenities.
Property Size678 SF
Price / SF$346.51
Days on Market128
Property Features for 1901 JOHN F KENNEDY BOULEVARD Unit 1602
General Information
Standard status
Active
Size
678 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,679,760
Amenities
24-hour security
concierge
onsite management
rooftop pool
fitness center
community room
hospitality suites
bike storage
library
laundry facilities
attached garage
Building Details
Building Size
678 SF
Year Built
1968
Listing Agency:
KW Empower
Listed By:
Barbara Sontag-Feldman · License #RSR002442
(917) 562-4147
Source:
Patmckennarealtors
Added: May 4
Changed: Sep 4
Last Checked: Sep 8 at 11:18AM
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
Investment Insights
Based on property information with market context.
This north-facing cooperative residence offers one bedroom and 678.20 sq. ft. of living space within a 1968 building. The property includes 24-hour security, concierge service, on-site management, an attached garage, rooftop pool, fitness center, community room, guest hospitality suites, bike storage, library, and laundry facilities. Building services include electricity, air conditioning, heat, water, basic cable TV, real estate taxes, and access to the rooftop pool and fitness center through the monthly fee.
The residence is located on John F Kennedy Boulevard in Philadelphia, blocks from Suburban Station and Amtrak's 30th Street Station, with multiple bus lines nearby. Kennedy Food Garden and na Brasa Brazilian Steakhouse are located within the building. Board approval is required, buyers must present strong financials and a credit score of 700+, and subletting is not permitted. Domestic cats and caged birds are allowed, with a limit of 2 pets per residence.
The residence is located on John F Kennedy Boulevard in Philadelphia, blocks from Suburban Station and Amtrak's 30th Street Station, with multiple bus lines nearby. Kennedy Food Garden and na Brasa Brazilian Steakhouse are located within the building. Board approval is required, buyers must present strong financials and a credit score of 700+, and subletting is not permitted. Domestic cats and caged birds are allowed, with a limit of 2 pets per residence.
Key Highlights
- 678.20 sq. ft. one‑bedroom cooperative residence
- Rooftop pool with panoramic Philadelphia skyline views
- 24‑hour security, concierge, and on‑site management
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,668
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$213,360
$213.4K
Cap Rate 7%
$152,400
$152.4K
Cap Rate 9%
$118,533
$118.5K
Market Conditions
NOI Build-Up for 678 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$20.6K $30.36/SF
− Vacancy
−$1.2K −$1.76/SF
EGI
$19.4K $28.60/SF
− OpEx
−$8.7K −$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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$213,360
Cap Rate 7%
$152,400
Cap Rate 9%
$118,533
Alternative Uses
Best Use
Apartment 5plus
$152.4K
$133.4K – $177.8K
NOI $10,668 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$165.3K
$144.7K – $192.9K
NOI $11,573 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
18,683
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Cooperative one-bedroom residence with concierge service, security, and extensive shared amenities.
Where is this residential income property located?
The property is located at 1901 JOHN F KENNEDY BOULEVARD Unit 1602 Philadelphia, PA.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 678.20 sq. ft. one‑bedroom cooperative residence; Rooftop pool with panoramic Philadelphia skyline views; 24‑hour security, concierge, and on‑site management
