Leased Studio Condo
For Sale
$120,000
2101 CHESTNUT STREET Unit 1024, Philadelphia, PA 19103
Tenant-occupied studio condo with upgraded finishes, full-service building amenities, and a lease extending through August 2027.
Property Size437 SF
Days on Market133
Property Features for 2101 CHESTNUT STREET Unit 1024
General Information
Standard status
Active
Size
437 SF
Property subtype
Unit/Flat/Apartment
Occupancy
100%
Financials
Gross Income
$16,800
Average Monthly Rent
$1,400
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,975
Amenities
fitness center
24-hour lobby attendant
pet-friendly
on-site maintenance
Building Details
Building Size
437 SF
Year Built
1900
Tenancy
Single
Listing Agency:
BHHS Fox & Roach The Harper at Rittenhouse Square
(215) 695-5042
Listed By:
Andy Oei · License #RS302287
(215) 695-5042
Source:
Patmckennarealtors
Added: Mar 25
Changed: Aug 4
Last Checked: Aug 4 at 1:55AM
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 BHHS Fox & Roach The Harper at Rittenhouse Square
Investment Insights
Based on property information with market context.
This tenant-occupied studio condominium at Riverwest offers an income-producing residential asset with a lease in place through August 2027. The unit has upgraded flooring, oversized windows with unobstructed city views, and a kitchen equipped with a gas range, refrigerator, microwave, and wood cabinetry. Storage includes a large entry closet and a walk-in closet adjoining the bathroom, which has fresh tile and a reglazed tub.
Building services include utilities, basic cable, building insurance, on-site maintenance, a 24-hour lobby attendant, and a fitness center. On-site parking is available for an additional fee, and the building permits pets. The property is positioned near restaurants, shopping, theaters, and public transportation, with access to Penn, Drexel, 30th Street Station, and major hospitals. The building dates to 1900 and is located in Philadelphia’s 19103 ZIP code.
Building services include utilities, basic cable, building insurance, on-site maintenance, a 24-hour lobby attendant, and a fitness center. On-site parking is available for an additional fee, and the building permits pets. The property is positioned near restaurants, shopping, theaters, and public transportation, with access to Penn, Drexel, 30th Street Station, and major hospitals. The building dates to 1900 and is located in Philadelphia’s 19103 ZIP code.
Key Highlights
- Studio condominium leased through August 2027
- Utilities, basic cable, building insurance, and maintenance included through the condo fee
- Oversized windows provide unobstructed city views
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $13.3k | $30.36 |
| − Vacancy | −$770 | −$1.76 |
| EGI | $12.5k | $28.60 |
| − OpEx | −$5.6k | −$12.87 |
| NOI | $6.9k | $15.73 |
437 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$98.2K
$85.9K – $114.6K
NOI $6,874 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$106.5K
$93.2K – $124.3K
NOI $7,457 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
16,107
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
$551,700
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Philadelphia, PA
Properties on Market for Residential income properties in Philadelphia
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Tenant-occupied studio condo with upgraded finishes, full-service building amenities, and a lease extending through August 2027.
Where is this residential income property located?
The property is located at 2101 CHESTNUT STREET Unit 1024 Philadelphia, PA.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Studio condominium leased through August 2027; Utilities, basic cable, building insurance, and maintenance included through the condo fee; Oversized windows provide unobstructed city views
