Historic Residential Income
For Sale
$385,000
Pending
242 S 13TH STREET Unit E, Philadelphia, PA 19107
Two-bedroom condominium unit with a 2023 kitchen renovation, private covered outdoor area, central air, and fitted storage.
Property Size889 SF
Days on Market53
Property Features for 242 S 13TH STREET Unit E
General Information
Standard status
Pending
Size
889 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,357
Amenities
shared outdoor patio
laundry facilities
Building Details
Building Size
889 SF
Year Built
1900
Listing Agency:
SERHANT PENNSYLVANIA LLC
Listed By:
Justyna A Goldman · License #RS359180
(267) 290-6872
Source:
Patmckennarealtors
Added: Sep 10
Changed: Oct 31
Last Checked: Nov 1 at 2:16PM
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 SERHANT PENNSYLVANIA LLC
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Investment Insights
Based on property information with market context.
Unit E is a two-bedroom condominium residence within a building constructed in 1900 and designed by Philadelphia architect Frank Furness. The property was originally planned as a single-family home before conversion to condominiums. Interior features include an open kitchen, dining, and living arrangement; a kitchen updated in 2023 with Bosch appliances, a Faber range hood, and streamlined cabinetry; a full bathroom; fitted closets; central air conditioning; and an original built-in hallway bookcase. One bedroom connects directly to a private covered outdoor area.
Residents have access to a shared patio and laundry facilities. The property is at 242 S 13TH STREET in Philadelphia’s Washington Square West, with Midtown Village, Rittenhouse Square, Washington Square, the Avenue of the Arts, the Kimmel Center, and Walnut and Chestnut Street shopping nearby. Jefferson, Wills Eye, and Pennsylvania Hospital are also identified as nearby institutions.
Residents have access to a shared patio and laundry facilities. The property is at 242 S 13TH STREET in Philadelphia’s Washington Square West, with Midtown Village, Rittenhouse Square, Washington Square, the Avenue of the Arts, the Kimmel Center, and Walnut and Chestnut Street shopping nearby. Jefferson, Wills Eye, and Pennsylvania Hospital are also identified as nearby institutions.
Key Highlights
- Two‑bedroom condominium unit in a building constructed in 1900
- Designed by Philadelphia architect Frank Furness
- Kitchen renovated in 2023 with Bosch appliances and a Faber range hood
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,984
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,680
$279.7K
Cap Rate 7%
$199,771
$199.8K
Cap Rate 9%
$155,378
$155.4K
Market Conditions
NOI Build-Up for 889 SF
Gross rent
$27.0K $30.36/SF
− Vacancy
−$1.6K −$1.76/SF
EGI
$25.4K $28.60/SF
− OpEx
−$11.4K −$12.87/SF
NOI
$14.0K $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 Rate 5%
$279,680
Cap Rate 7%
$199,771
Cap Rate 9%
$155,378
Alternative Uses
Best Use
Apartment 5plus
$199.8K
$174.8K – $233.1K
NOI $13,984 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$216.7K
$189.6K – $252.9K
NOI $15,171 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
26,359
Businesses Nearby
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Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium unit with a 2023 kitchen renovation, private covered outdoor area, central air, and fitted storage.
Where is this residential income property located?
The property is located at 242 S 13TH STREET Unit E Philadelphia, PA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two‑bedroom condominium unit in a building constructed in 1900; Designed by Philadelphia architect Frank Furness; Kitchen renovated in 2023 with Bosch appliances and a Faber range hood
