Art Museum View
For Sale
$179,900
2601 PENNSYLVANIA AVENUE Unit 507, Philadelphia, PA 19130
A fifth-floor, one-bedroom residence with an open living and dining area and access to shared building amenities.
Property Size632 SF
Price / SF$284.65
Days on Market146
Property Features for 2601 PENNSYLVANIA AVENUE Unit 507
General Information
Standard status
Active
Size
632 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
North Philadelphia
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,353
Amenities
fitness center
library
lounge
business and event area
play area
private shuttle
24-hour concierge
monitored lobby
secure elevators
exterior cameras
fire detection system
Building Details
Building Size
632 SF
Year Built
1940
Construction
Art Deco
Listing Agency:
KW Empower
Listed By:
Charles Balducci · License #RS286990
(484) 430-1632
Source:
Wagnerrealestate
Added: Jun 12
Changed: Nov 2
Last Checked: Nov 4 at 9:03AM
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 KW Empower
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Investment Insights
Based on property information with market context.
This 632-square-foot condominium at 2601 Parkway has one bedroom and one bathroom, with an open living and dining area, hardwood flooring, double-pane windows, and a kitchenette equipped with a gas range and refrigerator. The unit also includes pantry storage and a double closet. Built in 1940, the brick building features Art Deco design and offers shared spaces including a fitness center, library, lounge, and business and event room with a kitchen.
The fifth-floor residence overlooks the Art Museum. Building services include a 24-hour concierge, monitored lobby, secure elevators, exterior cameras, and a private shuttle to Center City. Two SEPTA bus routes stop in front of the building, and the property has a circular driveway entrance.
The fifth-floor residence overlooks the Art Museum. Building services include a 24-hour concierge, monitored lobby, secure elevators, exterior cameras, and a private shuttle to Center City. Two SEPTA bus routes stop in front of the building, and the property has a circular driveway entrance.
Key Highlights
- 632‑square‑foot condominium with one bedroom and one bathroom
- Fifth‑floor unit with an Art Museum view
- Open living and dining area, hardwood floors, and double‑pane windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,941
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$198,820
$198.8K
Cap Rate 7%
$142,014
$142.0K
Cap Rate 9%
$110,456
$110.5K
Market Conditions
NOI Build-Up for 632 SF
Gross rent
$19.2K $30.36/SF
− Vacancy
−$1.1K −$1.76/SF
EGI
$18.1K $28.60/SF
− OpEx
−$8.1K −$12.87/SF
NOI
$9.9K $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%
$198,820
Cap Rate 7%
$142,014
Cap Rate 9%
$110,456
Alternative Uses
Best Use
Apartment 5plus
$142.0K
$124.3K – $165.7K
NOI $9,941 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$154.1K
$134.8K – $179.8K
NOI $10,785 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,907
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - A fifth-floor, one-bedroom residence with an open living and dining area and access to shared building amenities.
Where is this residential income property located?
The property is located at 2601 PENNSYLVANIA AVENUE Unit 507 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: 632‑square‑foot condominium with one bedroom and one bathroom; Fifth‑floor unit with an Art Museum view; Open living and dining area, hardwood floors, and double‑pane windows
