Leased Studio Income
For Sale
$99,000
2101 CHESTNUT STREET Unit 722, Philadelphia, PA 19103
Studio residence with an existing longer-term lease and building services that include utilities, fitness facilities, and lobby staffing.
Property Size429 SF
Days on Market125
Property Features for 2101 CHESTNUT STREET Unit 722
General Information
Standard status
Active
Size
429 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,937
Amenities
fitness center
24-hour lobby attendant
Building Details
Building Size
429 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: Apr 2
Changed: Aug 4
Last Checked: Aug 4 at 2:30AM
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 residential income property is a studio residence with a longer-term lease already in place. Interior features include a window wall, wood kitchen cabinetry, a gas range, refrigerator, and a bathroom with a ceramic sink, storage vanity, tub, and chrome fixtures. The residence was built in 1900.
Association fees include gas, water, electricity, basic cable TV, building insurance, and on-site maintenance. Residents also have access to a fitness center and a lobby attendant available 24 hours a day. The building is pet-friendly and located in Philadelphia’s Rittenhouse Square area, near dining, shopping, 30th Street Station, the Schuylkill River Walking & Bike Path, UPENN, Drexel, HUP, CHOP, Trader Joe’s, and Giant.
Association fees include gas, water, electricity, basic cable TV, building insurance, and on-site maintenance. Residents also have access to a fitness center and a lobby attendant available 24 hours a day. The building is pet-friendly and located in Philadelphia’s Rittenhouse Square area, near dining, shopping, 30th Street Station, the Schuylkill River Walking & Bike Path, UPENN, Drexel, HUP, CHOP, Trader Joe’s, and Giant.
Key Highlights
- Studio residence with a longer‑term lease in place
- Association fees cover gas, water, electricity, basic cable TV, building insurance, and maintenance
- Fitness center and 24‑hour lobby attendant
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 | $13.0k | $30.36 |
| − Vacancy | −$755 | −$1.76 |
| EGI | $12.3k | $28.60 |
| − OpEx | −$5.5k | −$12.87 |
| NOI | $6.7k | $15.73 |
429 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$96.4K
$84.4K – $112.5K
NOI $6,748 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$104.6K
$91.5K – $122.0K
NOI $7,321 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Studio residence with an existing longer-term lease and building services that include utilities, fitness facilities, and lobby staffing.
Where is this residential income property located?
The property is located at 2101 CHESTNUT STREET Unit 722 Philadelphia, PA.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: Studio residence with a longer‑term lease in place; Association fees cover gas, water, electricity, basic cable TV, building insurance, and maintenance; Fitness center and 24‑hour lobby attendant
