Renovated Residential Income
For Sale
$179,900
Pending
2401 PENNSYLVANIA AVENUE Unit 15A08, Philadelphia, PA 19130
Two-bedroom residence with updated kitchen, hardwood floors, oversized windows, and direct access to building amenities.
Property Size570 SF
Days on Market24
Property Features for 2401 PENNSYLVANIA AVENUE Unit 15A08
General Information
Standard status
Pending
Size
570 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,495
Amenities
pool
fitness center
24-hour doorman
restaurant
grocery store
medical offices
beauty parlor
shuttle bus
Building Details
Building Size
570 SF
Year Built
1960
Listing Agency:
Keller Williams Main Line
Listed By:
Zack Porrini · License #RS369580
(610) 469-4860
Source:
Patmckennarealtors
Added: Aug 16
Changed: Sep 6
Last Checked: Sep 6 at 12:10PM
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 Keller Williams Main Line
Investment Insights
Based on property information with market context.
Located within The Philadelphian, this renovated two-bedroom residence offers a split-bedroom layout with generous living and dining areas. Oversized windows bring natural light into the great room and bedrooms, while hardwood flooring extends throughout the home. The updated kitchen includes white shaker cabinetry, Corian countertops, stainless steel appliances, a breakfast bar, and a garbage disposal. A combination washer/dryer is also included.
The primary suite features a dressing area, extensive closet storage, and a private bathroom with a tub shower and custom tilework. The second bedroom includes a deep closet and access to a hall bathroom with a stall shower. Residents have convenient access to pools and a fitness center from the amenities floor, along with building services that include a restaurant, grocery store, medical offices, beauty parlor, shuttle bus, and 24-hour doorman. The Philadelphian was built in 1960, and on-site garage parking is available for rent subject to availability.
The primary suite features a dressing area, extensive closet storage, and a private bathroom with a tub shower and custom tilework. The second bedroom includes a deep closet and access to a hall bathroom with a stall shower. Residents have convenient access to pools and a fitness center from the amenities floor, along with building services that include a restaurant, grocery store, medical offices, beauty parlor, shuttle bus, and 24-hour doorman. The Philadelphian was built in 1960, and on-site garage parking is available for rent subject to availability.
Key Highlights
- Renovated two‑bedroom residence with a split‑bedroom layout
- Updated kitchen with Corian countertops, stainless steel appliances, breakfast bar, and white shaker cabinetry
- Hardwood floors and oversized windows throughout the home
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,966
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$179,320
$179.3K
Cap Rate 7%
$128,086
$128.1K
Cap Rate 9%
$99,622
$99.6K
Market Conditions
NOI Build-Up for 570 SF
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.
Gross rent
$17.3K $30.36/SF
− Vacancy
−$1.0K −$1.76/SF
EGI
$16.3K $28.60/SF
− OpEx
−$7.3K −$12.87/SF
NOI
$9.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$179,320
Cap Rate 7%
$128,086
Cap Rate 9%
$99,622
Alternative Uses
Best Use
Apartment 5plus
$128.1K
$112.1K – $149.4K
NOI $8,966 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$139.0K
$121.6K – $162.1K
NOI $9,727 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,991
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with updated kitchen, hardwood floors, oversized windows, and direct access to building amenities.
Where is this residential income property located?
The property is located at 2401 PENNSYLVANIA AVENUE Unit 15A08 Philadelphia, PA.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Renovated two‑bedroom residence with a split‑bedroom layout; Updated kitchen with Corian countertops, stainless steel appliances, breakfast bar, and white shaker cabinetry; Hardwood floors and oversized windows throughout the home
