First-Floor Studio Income
For Sale
$140,000
2601 PENNSYLVANIA AVENUE Unit 127, Philadelphia, PA 19130
Updated studio in a full-service condominium building with elevator access, in-unit laundry, and a staffed 24-hour concierge.
Property Size398 SF
Days on Market53
Property Features for 2601 PENNSYLVANIA AVENUE Unit 127
General Information
Standard status
Active
Size
398 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
North Philadelphia
Taxes and HOA fees
Annual Taxes
$1,728
Building Details
Building Size
398 SF
Year Built
1950
Listing Agency:
Keller Williams Real Estate - West Chester
Listed By:
Hannady C Morsi · License #RS223755L
(610) 299-3484
Source:
Patmckennarealtors
Added: Sep 2
Changed: Oct 21
Last Checked: Oct 23 at 1:02PM
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 Real Estate - West Chester
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Investment Insights
Based on property information with market context.
This first-floor studio is arranged for efficient daily living, with parquet flooring, a ceiling fan, and a walk-in closet with space for a dresser. The kitchen includes white cabinetry, gas cooking, and a new refrigerator, while the full bathroom has a tiled tub and shower surround. Fresh paint and an in-unit washer and dryer complete the interior improvements. Elevator service provides convenient access within the Art Deco building, constructed in 1950.
Building amenities include a 24-hour concierge, shuttle bus service, fitness facility, bike storage, community room, and pet-friendly policies. Condo fees include water, sewer, cooking gas, common-area maintenance, trash removal, and snow removal.
The property is steps from the Art Museum and overlooks Kelly Drive, with access to jogging routes, Parkway museums including the Barnes and Franklin Institute, and nearby restaurants and bars. The building also has an established rental history.
Building amenities include a 24-hour concierge, shuttle bus service, fitness facility, bike storage, community room, and pet-friendly policies. Condo fees include water, sewer, cooking gas, common-area maintenance, trash removal, and snow removal.
The property is steps from the Art Museum and overlooks Kelly Drive, with access to jogging routes, Parkway museums including the Barnes and Franklin Institute, and nearby restaurants and bars. The building also has an established rental history.
Key Highlights
- First‑floor studio with parquet flooring and efficient layout
- Kitchen with white cabinetry, gas cooking, and new refrigerator
- In‑unit washer and dryer plus walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,260
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$125,200
$125.2K
Cap Rate 7%
$89,429
$89.4K
Cap Rate 9%
$69,556
$69.6K
Market Conditions
NOI Build-Up for 398 SF
Gross rent
$12.1K $30.36/SF
− Vacancy
−$701 −$1.76/SF
EGI
$11.4K $28.60/SF
− OpEx
−$5.1K −$12.87/SF
NOI
$6.3K $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%
$125,200
Cap Rate 7%
$89,429
Cap Rate 9%
$69,556
Alternative Uses
Best Use
Apartment 5plus
$89.4K
$78.3K – $104.3K
NOI $6,260 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$97.0K
$84.9K – $113.2K
NOI $6,792 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,907
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
Frequently Asked Questions
What type of property is this?
Residential income property - Updated studio in a full-service condominium building with elevator access, in-unit laundry, and a staffed 24-hour concierge.
Where is this residential income property located?
The property is located at 2601 PENNSYLVANIA AVENUE Unit 127 Philadelphia, PA.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: First‑floor studio with parquet flooring and efficient layout; Kitchen with white cabinetry, gas cooking, and new refrigerator; In‑unit washer and dryer plus walk‑in closet
