Updated Residential Income
For Sale
$289,900
224 W RITTENHOUSE SQUARE Unit 214, Philadelphia, PA 19103
One-bedroom condominium residence with a private balcony, updated kitchen, generous storage, and parquet wood floors.
Property Size740 SF
Days on Market50
Property Features for 224 W RITTENHOUSE SQUARE Unit 214
General Information
Standard status
Active
Size
740 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Taxes and HOA fees
Annual Taxes
$4,008
Building Details
Building Size
740 SF
Year Built
1970
Listing Agency:
Allan Domb Real Estate
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Patmckennarealtors
Added: Sep 17
Changed: Oct 31
Last Checked: Nov 4 at 10:07PM
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.
This one-bedroom condominium residence at The Dorchester features a welcoming foyer, a deep walk-in closet, and a spacious great room arranged for living and dining. The updated kitchen includes light wood cabinetry, granite countertops, a designer tile backsplash, contemporary flooring, stainless steel appliances, and a passthrough to the main living area. A private balcony extends from the great room, while the bedroom offers oversized windows and substantial closet space. The full bathroom includes a tub-shower combination, linen storage, and white tilework. Parquet floors continue throughout the home.
Building amenities include a twenty-four hour doorman, a state-of-the-art fitness center, a seasonal rooftop pool club, and valet parking in the underground garage. Fitness center, pool club, and valet garage access are available for an additional fee, subject to availability. All utilities are included in the condo fee except basic cable/internet. No pets are permitted. The building was constructed in 1970.
Building amenities include a twenty-four hour doorman, a state-of-the-art fitness center, a seasonal rooftop pool club, and valet parking in the underground garage. Fitness center, pool club, and valet garage access are available for an additional fee, subject to availability. All utilities are included in the condo fee except basic cable/internet. No pets are permitted. The building was constructed in 1970.
Key Highlights
- One‑bedroom residence with a private balcony
- Updated kitchen with granite counters, stainless steel appliances, and designer tile backsplash
- Great room provides separate living and dining areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,640
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$232,800
$232.8K
Cap Rate 7%
$166,286
$166.3K
Cap Rate 9%
$129,333
$129.3K
Market Conditions
NOI Build-Up for 740 SF
Gross rent
$22.5K $30.36/SF
− Vacancy
−$1.3K −$1.76/SF
EGI
$21.2K $28.60/SF
− OpEx
−$9.5K −$12.87/SF
NOI
$11.6K $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%
$232,800
Cap Rate 7%
$166,286
Cap Rate 9%
$129,333
Alternative Uses
Best Use
Apartment 5plus
$166.3K
$145.5K – $194.0K
NOI $11,640 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$180.4K
$157.9K – $210.5K
NOI $12,628 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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 - One-bedroom condominium residence with a private balcony, updated kitchen, generous storage, and parquet wood floors.
Where is this residential income property located?
The property is located at 224 W RITTENHOUSE SQUARE Unit 214 Philadelphia, PA.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: One‑bedroom residence with a private balcony; Updated kitchen with granite counters, stainless steel appliances, and designer tile backsplash; Great room provides separate living and dining areas
