Residential Income Property with
For Sale
$299,900
224 W RITTENHOUSE SQUARE Unit 413, Philadelphia, PA 19103
This one-bedroom residence includes a private balcony and an updated kitchen with stainless steel appliances.
Property Size723 SF
Price / SF$414.80
Days on Market508
Property Features for 224 W RITTENHOUSE SQUARE Unit 413
General Information
Standard status
Active
Size
723 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,025
Amenities
private balcony
stainless steel appliances
stacked Bosch washer/dryer
24-hour doorman
state-of-the-art fitness center
seasonal rooftop pool club
valet parking
underground garage
Building Details
Building Size
723 SF
Year Built
1950
Listing Agency:
Allan Domb Real Estate
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Desantis-realestate
Added: Jun 16, 2025
Changed: Nov 2
Last Checked: Nov 5 at 7:45AM
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.
Set in The Dorchester, this 723-square-foot, one-bedroom residence has a private balcony and parquet flooring. Its layout includes a foyer with a walk-in closet, a great room with balcony access, and an updated kitchen with wood cabinetry, stainless steel appliances, and a washer and dryer. The bedroom has oversized windows and a wall closet, with a hall bathroom nearby.
The building provides a 24-hour doorman. Fitness center access, a seasonal rooftop pool, and valet parking in the underground garage are available for additional fees and subject to availability. Pets are not permitted. Utilities are included in the condo fee except basic cable and internet.
The property is on Rittenhouse Square, within walking distance of the Market Street office corridor, the Avenue of the Arts, and University City. The listing also notes 175 restaurants and 199 retailers within a three-block radius, with 30th Street Station and Philadelphia International Airport described as minutes away.
The building provides a 24-hour doorman. Fitness center access, a seasonal rooftop pool, and valet parking in the underground garage are available for additional fees and subject to availability. Pets are not permitted. Utilities are included in the condo fee except basic cable and internet.
The property is on Rittenhouse Square, within walking distance of the Market Street office corridor, the Avenue of the Arts, and University City. The listing also notes 175 restaurants and 199 retailers within a three-block radius, with 30th Street Station and Philadelphia International Airport described as minutes away.
Key Highlights
- 723‑square‑foot one‑bedroom residence with a private balcony
- Updated kitchen with stainless steel appliances and stacked Bosch washer/dryer
- Parquet flooring throughout; oversized bedroom windows and walk‑in foyer closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,372
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,440
$227.4K
Cap Rate 7%
$162,457
$162.5K
Cap Rate 9%
$126,356
$126.4K
Market Conditions
NOI Build-Up for 723 SF
Gross rent
$22.0K $30.36/SF
− Vacancy
−$1.3K −$1.76/SF
EGI
$20.7K $28.60/SF
− OpEx
−$9.3K −$12.87/SF
NOI
$11.4K $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%
$227,440
Cap Rate 7%
$162,457
Cap Rate 9%
$126,356
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.
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 - This one-bedroom residence includes a private balcony and an updated kitchen with stainless steel appliances.
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: 723‑square‑foot one‑bedroom residence with a private balcony; Updated kitchen with stainless steel appliances and stacked Bosch washer/dryer; Parquet flooring throughout; oversized bedroom windows and walk‑in foyer closet
