Residential Income Property with Bay
For Sale
$314,900
2018 WALNUT STREET Unit 16K, Philadelphia, PA 19103
One-bedroom residence with expansive windows, flexible living space, and access to extensive building amenities.
Property Size700 SF
Days on Market82
Property Features for 2018 WALNUT STREET Unit 16K
General Information
Standard status
Active
Size
700 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,080
Amenities
24-hour doorman
seasonal rooftop pool
fitness center
meeting room
amenity lounge
parking garage
Building Details
Building Size
700 SF
Year Built
1980
Listing Agency:
Allan Domb Real Estate
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Patmckennarealtors
Added: Aug 12
Changed: Oct 31
Last Checked: Oct 30 at 10:46PM
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.
Built in 1980, this one-bedroom residential income property includes a foyer, combined living and dining areas, a kitchen with white appliances and substantial cabinet and counter space, and a full hall bathroom with a tub shower. The bedroom offers a wall closet, while a separate walk-in closet provides additional storage. Bay windows and floor-to-ceiling glass bring abundant natural light and southwest-facing city views into the home.
The property is located one block from Rittenhouse Square. Building amenities include a 24-hour doorman, seasonal rooftop pool, fitness center, amenity lounge, meeting room, and parking garage, subject to availability. Common areas, including the lobby, hallways, meeting room, amenity lounge, and fitness center, have been recently renovated. The improvements were designed by architect Cecil Baker.
The property is located one block from Rittenhouse Square. Building amenities include a 24-hour doorman, seasonal rooftop pool, fitness center, amenity lounge, meeting room, and parking garage, subject to availability. Common areas, including the lobby, hallways, meeting room, amenity lounge, and fitness center, have been recently renovated. The improvements were designed by architect Cecil Baker.
Key Highlights
- One‑bedroom layout with foyer, combined living and dining areas, and a separate walk‑in closet
- Bay windows provide southwest‑facing city views and added natural light
- Kitchen includes white appliances plus substantial cabinet and counter space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,011
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$220,220
$220.2K
Cap Rate 7%
$157,300
$157.3K
Cap Rate 9%
$122,344
$122.3K
Market Conditions
NOI Build-Up for 700 SF
Gross rent
$21.3K $30.36/SF
− Vacancy
−$1.2K −$1.76/SF
EGI
$20.0K $28.60/SF
− OpEx
−$9.0K −$12.87/SF
NOI
$11.0K $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%
$220,220
Cap Rate 7%
$157,300
Cap Rate 9%
$122,344
Alternative Uses
Best Use
Apartment 5plus
$157.3K
$137.6K – $183.5K
NOI $11,011 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$170.6K
$149.3K – $199.1K
NOI $11,945 @ 7.0% cap · market cap 3.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
16,659
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
Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence with expansive windows, flexible living space, and access to extensive building amenities.
Where is this residential income property located?
The property is located at 2018 WALNUT STREET Unit 16K Philadelphia, PA.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: One‑bedroom layout with foyer, combined living and dining areas, and a separate walk‑in closet; Bay windows provide southwest‑facing city views and added natural light; Kitchen includes white appliances plus substantial cabinet and counter space
