Residential Income Property with
For Sale
$375,000
226 W RITTENHOUSE SQUARE Unit 416, Philadelphia, PA 19103
Condominium residence in a full-service building with controlled access, on-site management, and optional lifestyle amenities.
Property Size848 SF
Days on Market15
Property Features for 226 W RITTENHOUSE SQUARE Unit 416
General Information
Standard status
Active
Size
848 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,065
Amenities
24-hour doorman
secure entry
renovated lobby
on-site management
seasonal rooftop pool
fitness center
valet garage parking
Building Details
Building Size
848 SF
Year Built
1950
Listing Agency:
RE/MAX Access
(609) 221-7123
Listed By:
Michael D Fabrizio · License #RS321641
(609) 221-7123
Source:
Patmckennarealtors
Added: Jul 21
Changed: Aug 4
Last Checked: Aug 4 at 6:31AM
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 RE/MAX Access
Investment Insights
Based on property information with market context.
Residence 416 is a condominium unit within The Dorchester, a residential income property completed in 1950. The home features an open layout, natural light, a connected living and kitchen area, and substantial closet storage. Its outlook extends toward Rittenhouse Square, adding a distinctive urban setting to the residence.
Building services include a 24-hour doorman, secure entry, an updated lobby, and on-site management. Residents may also access a seasonal rooftop pool, fitness center, and valet garage parking, subject to availability and additional fees. Many utilities are included through the condominium association.
The property is positioned near Rittenhouse Square’s restaurants, sidewalk cafes, retail, parks, cultural destinations, and public transportation, placing a broad range of Center City amenities within the surrounding area.
Building services include a 24-hour doorman, secure entry, an updated lobby, and on-site management. Residents may also access a seasonal rooftop pool, fitness center, and valet garage parking, subject to availability and additional fees. Many utilities are included through the condominium association.
The property is positioned near Rittenhouse Square’s restaurants, sidewalk cafes, retail, parks, cultural destinations, and public transportation, placing a broad range of Center City amenities within the surrounding area.
Key Highlights
- Residence 416 at The Dorchester, completed in 1950
- Open layout with natural light, connected living and kitchen areas, and generous closet storage
- 24‑hour doorman, secure entry, renovated lobby, and on‑site management
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 | $25.7k | $30.36 |
| − Vacancy | −$1.5k | −$1.76 |
| EGI | $24.3k | $28.60 |
| − OpEx | −$10.9k | −$12.87 |
| NOI | $13.3k | $15.73 |
848 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$190.6K
$166.7K – $222.3K
NOI $13,339 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$206.7K
$180.9K – $241.2K
NOI $14,471 @ 7.0% cap · market cap 3.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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 - Condominium residence in a full-service building with controlled access, on-site management, and optional lifestyle amenities.
Where is this residential income property located?
The property is located at 226 W RITTENHOUSE SQUARE Unit 416 Philadelphia, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Residence 416 at The Dorchester, completed in 1950; Open layout with natural light, connected living and kitchen areas, and generous closet storage; 24‑hour doorman, secure entry, renovated lobby, and on‑site management
