Residential Income Property with
For Sale
$299,900
224 W RITTENHOUSE SQUARE Unit 413, Philadelphia, PA 19103
One-bedroom residence with updated kitchen, in-unit laundry, and access to full-service building amenities.
Property Size723 SF
Days on Market415
Property Features for 224 W RITTENHOUSE SQUARE Unit 413
General Information
Standard status
Active
Size
723 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,025
Amenities
private balcony
walk-in closet
updated kitchen
stainless steel appliances
stacked Bosch washer/dryer
parquet wood floors
twenty-four hour doorman
fitness center
seasonal rooftop pool club
valet parking
Building Details
Building Size
723 SF
Year Built
1950
Listing Agency:
Allan Domb Real Estate
(215) 545-1500
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Patmckennarealtors
Added: Jun 16, 2025
Changed: Aug 4
Last Checked: Aug 4 at 6:13AM
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
Investment Insights
Based on property information with market context.
This one-bedroom residential income property at The Dorchester includes a private balcony, foyer with a large walk-in closet, and a great room with flexible living and dining arrangements. The updated kitchen features flat-panel wood cabinetry, gray countertops, a white tile backsplash, stainless steel appliances, tile flooring, and a passthrough to the main living area. The bedroom offers oversized windows and a large wall closet, while parquet wood floors and a stacked Bosch washer/dryer complete the interior. The building dates to 1950.
Residents have access to a 24-hour doorman, fitness center, seasonal rooftop pool club, and valet parking in the underground garage, with certain amenities subject to availability and additional fees. Utilities are included in the condo fee except basic cable/internet. The property is at 224 W Rittenhouse Square in Philadelphia, within walking distance of the Market Street office corridor, The Avenue of the Arts, and University City. 30th Street Station and Philadelphia International Airport are minutes away.
Residents have access to a 24-hour doorman, fitness center, seasonal rooftop pool club, and valet parking in the underground garage, with certain amenities subject to availability and additional fees. Utilities are included in the condo fee except basic cable/internet. The property is at 224 W Rittenhouse Square in Philadelphia, within walking distance of the Market Street office corridor, The Avenue of the Arts, and University City. 30th Street Station and Philadelphia International Airport are minutes away.
Key Highlights
- Private balcony with treetop sunset views
- Updated kitchen with stainless steel appliances and Bosch stacked washer/dryer
- One‑bedroom layout with oversized bedroom windows and parquet wood floors
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 | $22.0k | $30.36 |
| − Vacancy | −$1.3k | −$1.76 |
| EGI | $20.7k | $28.60 |
| − OpEx | −$9.3k | −$12.87 |
| NOI | $11.4k | $15.73 |
723 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$162.5K
$142.2K – $189.5K
NOI $11,372 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$176.3K
$154.2K – $205.6K
NOI $12,338 @ 7.0% cap · market cap 4.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
$551,700
Median Home Value
Market
Average Price Trend$/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 - One-bedroom residence with updated kitchen, in-unit laundry, and access to full-service building amenities.
Where is this residential income property located?
The property is located at 224 W RITTENHOUSE SQUARE Unit 413 Philadelphia, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Private balcony with treetop sunset views; Updated kitchen with stainless steel appliances and Bosch stacked washer/dryer; One‑bedroom layout with oversized bedroom windows and parquet wood floors
