Two-Bedroom Residential Income
For Sale
$674,900
224 W RITTENHOUSE SQUARE Unit 2510, Philadelphia, PA 19103
South-facing residence with a private balcony, generous storage, and building services including a doorman and fitness center.
Property Size1,281 SF
Days on Market50
Property Features for 224 W RITTENHOUSE SQUARE Unit 2510
General Information
Standard status
Active
Size
1,281 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Units
Unit Mix
2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,725
Amenities
private balcony
twenty-four hour doorman
state-of-the-art fitness center
seasonal rooftop pool club
valet parking
stacked washer/dryer
Building Details
Building Size
1,281 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: Nov 5
Last Checked: Nov 4 at 9:21PM
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 two-bedroom residence at The Dorchester features a foyer, spacious great room, living and dining areas, and a private south-facing balcony. Oversized windows bring southern exposure into the main living space and primary bedroom. The kitchen includes neutral cabinetry, tile flooring, a dishwasher, and a refrigerator with water and ice dispenser. The primary suite offers a walk-in closet and private bathroom, while the second bedroom has a deep wall closet and access to the hall bathroom. A stacked washer and dryer serve the home, with parquet flooring throughout the main areas and new carpet in the primary bedroom.
The property is located at 224 W Rittenhouse Square in Philadelphia’s Center City. The Dorchester provides a 24-hour doorman, and utilities are included in the condo fee except basic cable and internet. Residents may separately access the fitness center, seasonal rooftop pool club, and underground garage valet parking, subject to availability. Pets are not permitted.
The property is located at 224 W Rittenhouse Square in Philadelphia’s Center City. The Dorchester provides a 24-hour doorman, and utilities are included in the condo fee except basic cable and internet. Residents may separately access the fitness center, seasonal rooftop pool club, and underground garage valet parking, subject to availability. Pets are not permitted.
Key Highlights
- Two‑bedroom residence with a private south‑facing balcony
- Oversized windows provide southern exposure in the great room and primary bedroom
- Primary suite includes a walk‑in closet and ensuite bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,150
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$403,000
$403.0K
Cap Rate 7%
$287,857
$287.9K
Cap Rate 9%
$223,889
$223.9K
Market Conditions
NOI Build-Up for 1,281 SF
Gross rent
$38.9K $30.36/SF
− Vacancy
−$2.3K −$1.76/SF
EGI
$36.6K $28.60/SF
− OpEx
−$16.5K −$12.87/SF
NOI
$20.1K $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%
$403,000
Cap Rate 7%
$287,857
Cap Rate 9%
$223,889
Alternative Uses
Best Use
Apartment 5plus
$287.9K
$251.9K – $335.8K
NOI $20,150 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$312.3K
$273.3K – $364.3K
NOI $21,860 @ 7.0% cap · market cap 3.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
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 - South-facing residence with a private balcony, generous storage, and building services including a doorman and fitness center.
Where is this residential income property located?
The property is located at 224 W RITTENHOUSE SQUARE Unit 2510 Philadelphia, PA.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: Two‑bedroom residence with a private south‑facing balcony; Oversized windows provide southern exposure in the great room and primary bedroom; Primary suite includes a walk‑in closet and ensuite bathroom
