Penthouse Residential Income
For Sale
$424,900
2429-41 LOCUST STREET #608, Philadelphia, PA 19103
One-bedroom condominium with loft-style interiors, abundant light, a partial river view, and one deeded parking space.
Property Size814 SF
Price / SF$521.99
Days on Market63
Property Features for 2429-41 LOCUST STREET #608
General Information
Standard status
Active
Size
814 SF
Total Parking Spaces
1
Property subtype
Apartment
Site & Location
Neighborhood
Center City
Public Transit
Yes
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Amenities
fitness center
Building Details
Year Built
1900
Listing Agency:
Re/Max One Realty
(215) 953-8800
Listed By:
Patrick M. Frain · License #2192682
(215) 480-7248
Source:
Cummingsrealtors
Added: Aug 30
Changed: Oct 29
Last Checked: Oct 30 at 5:00PM
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 One Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential income property is an 814-square-foot, one-bedroom loft condominium on the penthouse floor. The residence has abundant natural light, high ceilings, loft-style character, a partial view toward the Schuylkill River, and one deeded parking space. The building dates to 1900 and provides access to an on-site fitness center.
Locust Point is near a dog walk, neighborhood dog park, Markward Playground, and the Schuylkill River Trail. The property is also close to 30th Street Station, the University of Pennsylvania, Children's Hospital of Philadelphia, and the Hospital of the University of Pennsylvania. Center City, restaurants, cafes, shopping, recreation, and waterfront trails are within convenient reach.
Locust Point is near a dog walk, neighborhood dog park, Markward Playground, and the Schuylkill River Trail. The property is also close to 30th Street Station, the University of Pennsylvania, Children's Hospital of Philadelphia, and the Hospital of the University of Pennsylvania. Center City, restaurants, cafes, shopping, recreation, and waterfront trails are within convenient reach.
Key Highlights
- 814 SF one‑bedroom loft condominium on the penthouse floor
- One deeded parking space included
- Partial view of the Schuylkill River
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,804
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$256,080
$256.1K
Cap Rate 7%
$182,914
$182.9K
Cap Rate 9%
$142,267
$142.3K
Market Conditions
NOI Build-Up for 814 SF
Gross rent
$24.7K $30.36/SF
− Vacancy
−$1.4K −$1.76/SF
EGI
$23.3K $28.60/SF
− OpEx
−$10.5K −$12.87/SF
NOI
$12.8K $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%
$256,080
Cap Rate 7%
$182,914
Cap Rate 9%
$142,267
Alternative Uses
Best Use
Apartment 5plus
$182.9K
$160.1K – $213.4K
NOI $12,804 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$198.4K
$173.6K – $231.5K
NOI $13,891 @ 7.0% cap · market cap 3.27%
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
10,875
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 - One-bedroom condominium with loft-style interiors, abundant light, a partial river view, and one deeded parking space.
Where is this residential income property located?
The property is located at 2429-41 LOCUST STREET #608 Philadelphia, PA.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: 814 SF one‑bedroom loft condominium on the penthouse floor; One deeded parking space included; Partial view of the Schuylkill River
