Renovated One-Bedroom Income
New
For Sale
$219,500
2601 PENNSYLVANIA AVENUE Unit 308, Philadelphia, PA 19130
Updated condominium residence with skyline views and extensive on-site services.
Property Size839 SF
Price / SF$261.62
Days on Market7
Property Features for 2601 PENNSYLVANIA AVENUE Unit 308
General Information
Standard status
Active
Size
839 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,089
Amenities
24-hour front desk
fitness center
community room
BYOB restaurant
convenience store
medical offices
dry cleaner
complimentary shuttle service
laundry room
Building Details
Building Size
839 SF
Year Built
1950
Construction
Art Deco
Listing Agency:
BHHS Fox & Roach-Haverford
Listed By:
Michael Gutkind · License #RS186985L
(610) 517-8411
Source:
Patmckennarealtors
Added: Aug 31
Changed: Sep 5
Last Checked: Sep 5 at 8:50AM
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 BHHS Fox & Roach-Haverford
Investment Insights
Based on property information with market context.
This one-bedroom residential income property at 2601 Pennsylvania Avenue, Unit 308, provides 839 SF of renovated living space with skyline views of Philadelphia. Interior features include wood parquet flooring, generous closets, a redesigned kitchen with breakfast bar, stainless steel appliances, granite counters, ceiling-height cabinetry, pantry, gas range, Bosch refrigerator, Speed Oven, garbage disposal, and dishwasher. The ceramic-tile bathroom includes a walk-in shower, and the unit has an in-home washer and dryer.
The Art Deco building offers 24-hour front desk coverage, a fitness center, resident community room with WiFi, an on-site BYOB restaurant, convenience store, medical offices, dry cleaner, ATM, and shuttle service to Center City. The condo fee covers water, trash, sewer, cooking gas, and professional management services. The property is positioned along the Ben Franklin Parkway near the Philadelphia Art Museum, Barnes, Schuylkill River Trail, Kelly Drive, Calder Museum, Fairmount Park, shops, and restaurants.
The Art Deco building offers 24-hour front desk coverage, a fitness center, resident community room with WiFi, an on-site BYOB restaurant, convenience store, medical offices, dry cleaner, ATM, and shuttle service to Center City. The condo fee covers water, trash, sewer, cooking gas, and professional management services. The property is positioned along the Ben Franklin Parkway near the Philadelphia Art Museum, Barnes, Schuylkill River Trail, Kelly Drive, Calder Museum, Fairmount Park, shops, and restaurants.
Key Highlights
- Renovated 839 SF one‑bedroom unit with Philadelphia skyline views
- Kitchen includes breakfast bar, granite counters, pantry, gas range, and stainless steel appliances
- Ceramic‑tile bath with walk‑in shower and wood parquet floors throughout
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
$13,197
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
6.01%
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%
$263,940
$263.9K
Cap Rate 7%
$188,529
$188.5K
Cap Rate 9%
$146,633
$146.6K
Market Conditions
NOI Build-Up for 839 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
$25.5K $30.36/SF
− Vacancy
−$1.5K −$1.76/SF
EGI
$24.0K $28.60/SF
− OpEx
−$10.8K −$12.87/SF
NOI
$13.2K $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%
$263,940
Cap Rate 7%
$188,529
Cap Rate 9%
$146,633
Alternative Uses
Best Use
Apartment 5plus
$188.5K
$165.0K – $220.0K
NOI $13,197 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$204.5K
$179.0K – $238.6K
NOI $14,317 @ 7.0% cap · market cap 6.52%
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
1,907
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with skyline views and extensive on-site services.
Where is this residential income property located?
The property is located at 2601 PENNSYLVANIA AVENUE Unit 308 Philadelphia, PA.
What is the asking price?
The asking price for this property is $219,500.
What are key features of this property?
This property features: Renovated 839 SF one‑bedroom unit with Philadelphia skyline views; Kitchen includes breakfast bar, granite counters, pantry, gas range, and stainless steel appliances; Ceramic‑tile bath with walk‑in shower and wood parquet floors throughout
