Residential Income Property with Bay
For Sale
$314,900
2018 WALNUT STREET Unit 16K, Philadelphia, PA 19103
A one-bedroom residence at Wanamaker House includes a full kitchen, walk-in closet, and access to building amenities.
Property Size700 SF
Price / SF$449.86
Days on Market81
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
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,080
Amenities
24-hour doorman
seasonal rooftop pool
fitness center
parking garage
meeting room
amenity lounge
Building Details
Building Size
700 SF
Year Built
1980
Listing Agency:
Keller Williams Realty
Listed By:
Desantis Real Estate Team · License #342628
(267) 625-7016
Source:
Desantis-realestate
Added: Aug 12
Changed: Oct 27
Last Checked: Oct 26 at 3:42PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This one-bedroom residence at Wanamaker House has a foyer with coat storage, a great room sized for separate living and dining areas, and a kitchen open to the main space. The kitchen includes wood cabinetry, a tile backsplash, and a full appliance suite. The bedroom has floor-to-ceiling windows and a wall closet, with an additional walk-in closet nearby. A full bathroom, luxury vinyl flooring in the living areas, new bedroom carpet, and fresh paint complete the interior. The 700-square-foot unit was built in 1980.
The Philadelphia property is one block from Rittenhouse Square. Building amenities include a 24-hour doorman, seasonal rooftop pool, fitness center, and recently renovated common areas. Garage parking may be available for an additional fee, subject to availability.
The Philadelphia property is one block from Rittenhouse Square. Building amenities include a 24-hour doorman, seasonal rooftop pool, fitness center, and recently renovated common areas. Garage parking may be available for an additional fee, subject to availability.
Key Highlights
- 700‑square‑foot one‑bedroom residence at Wanamaker House
- Floor‑to‑ceiling windows in the great room and bedroom
- Open kitchen with wood cabinetry, tile backsplash, and a full appliance suite
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.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
16,659
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 one-bedroom residence at Wanamaker House includes a full kitchen, walk-in closet, and access to 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: 700‑square‑foot one‑bedroom residence at Wanamaker House; Floor‑to‑ceiling windows in the great room and bedroom; Open kitchen with wood cabinetry, tile backsplash, and a full appliance suite
