High-Floor Studio Residential
For Sale
$189,900
224 W RITTENHOUSE SQUARE Unit 2103, Philadelphia, PA 19103
The Dorchester provides residents with a 24-hour doorman and access to a seasonal rooftop pool and fitness center.
Property Size583 SF
Days on Market14
Property Features for 224 W RITTENHOUSE SQUARE Unit 2103
General Information
Standard status
Active
Size
583 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Utilities to Site
Yes
Units
Unit Mix
1 x studio
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,094
Amenities
doorman
fitness center
rooftop pool
valet parking
Building Details
Building Size
583 SF
Year Built
1970
Listing Agency:
Allan Domb Real Estate
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Patmckennarealtors
Added: Oct 23
Changed: Nov 5
Last Checked: Nov 4 at 9:18PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This studio residence at The Dorchester features a foyer with a walk-in closet, a main living area with oversized windows, and partial views of Rittenhouse Square. Parquet hardwood flooring runs throughout. The kitchen has white shaker cabinets, granite counters, tile flooring, and stainless steel appliances. A separate dressing area with substantial closet space connects to a renovated bathroom with a tub-shower, white vanity, and upgraded tile flooring.
Built in 1970, the building offers a 24-hour doorman. Utilities are included in the condo fee, except basic cable and internet. Residents may use the fitness center, seasonal rooftop pool club, and underground garage valet parking for additional fees, subject to availability. Pets are not permitted.
Built in 1970, the building offers a 24-hour doorman. Utilities are included in the condo fee, except basic cable and internet. Residents may use the fitness center, seasonal rooftop pool club, and underground garage valet parking for additional fees, subject to availability. Pets are not permitted.
Key Highlights
- Studio residence with oversized windows and partial views of Rittenhouse Square
- Updated kitchen with granite counters and stainless steel appliances
- Renovated bathroom and separate dressing area with generous closet space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,170
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$183,400
$183.4K
Cap Rate 7%
$131,000
$131.0K
Cap Rate 9%
$101,889
$101.9K
Market Conditions
NOI Build-Up for 583 SF
Gross rent
$17.7K $30.36/SF
− Vacancy
−$1.0K −$1.76/SF
EGI
$16.7K $28.60/SF
− OpEx
−$7.5K −$12.87/SF
NOI
$9.2K $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%
$183,400
Cap Rate 7%
$131,000
Cap Rate 9%
$101,889
Alternative Uses
Best Use
Apartment 5plus
$131.0K
$114.6K – $152.8K
NOI $9,170 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$142.1K
$124.4K – $165.8K
NOI $9,949 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
18,587
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 - The Dorchester provides residents with a 24-hour doorman and access to a seasonal rooftop pool and fitness center.
Where is this residential income property located?
The property is located at 224 W RITTENHOUSE SQUARE Unit 2103 Philadelphia, PA.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Studio residence with oversized windows and partial views of Rittenhouse Square; Updated kitchen with granite counters and stainless steel appliances; Renovated bathroom and separate dressing area with generous closet space
