Studio Residential Income
For Sale
$162,500
224 W RITTENHOUSE SQUARE Unit 415B, Philadelphia, PA 19103
A full-size kitchen, walk-in closet, and building services add practical features to this city residence.
Property Size359 SF
Days on Market10
Property Features for 224 W RITTENHOUSE SQUARE Unit 415B
General Information
Standard status
Active
Size
359 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Units
Unit Mix
1 x studio
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,026
Amenities
24-hour doorman
fitness center
seasonal rooftop pool club
valet parking
Building Details
Building Size
359 SF
Year Built
1950
Listing Agency:
Allan Domb Real Estate
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Patmckennarealtors
Added: Oct 23
Changed: Oct 31
Last Checked: Oct 30 at 9:56PM
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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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 has an open living area with parquet flooring and oversized windows oriented toward sunset city views. The adjoining kitchen includes full-size appliances, tile flooring, ample cabinetry, and a pantry closet. A walk-in closet and a bathroom with a tub-shower complete the interior. The building dates to 1950.
Residents have access to a 24-hour doorman, fitness center, seasonal rooftop pool club, and underground-garage valet parking. Use of the fitness center, pool club, and valet service is available for an additional fee and subject to availability. The condo fee includes utilities other than basic cable and internet. Pets are not permitted.
Residents have access to a 24-hour doorman, fitness center, seasonal rooftop pool club, and underground-garage valet parking. Use of the fitness center, pool club, and valet service is available for an additional fee and subject to availability. The condo fee includes utilities other than basic cable and internet. Pets are not permitted.
Key Highlights
- Studio with open living area, parquet flooring, and oversized windows
- Kitchen has full‑size appliances, ample cabinetry, tile flooring, and pantry storage
- Oversized walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,647
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$112,940
$112.9K
Cap Rate 7%
$80,671
$80.7K
Cap Rate 9%
$62,744
$62.7K
Market Conditions
NOI Build-Up for 359 SF
Gross rent
$10.9K $30.36/SF
− Vacancy
−$632 −$1.76/SF
EGI
$10.3K $28.60/SF
− OpEx
−$4.6K −$12.87/SF
NOI
$5.6K $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%
$112,940
Cap Rate 7%
$80,671
Cap Rate 9%
$62,744
Alternative Uses
Best Use
Apartment 5plus
$80.7K
$70.6K – $94.1K
NOI $5,647 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$87.5K
$76.6K – $102.1K
NOI $6,126 @ 7.0% cap · market cap 3.77%
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 - A full-size kitchen, walk-in closet, and building services add practical features to this city residence.
Where is this residential income property located?
The property is located at 224 W RITTENHOUSE SQUARE Unit 415B Philadelphia, PA.
What is the asking price?
The asking price for this property is $162,500.
What are key features of this property?
This property features: Studio with open living area, parquet flooring, and oversized windows; Kitchen has full‑size appliances, ample cabinetry, tile flooring, and pantry storage; Oversized walk‑in closet
