Two-Bedroom
For Sale
$189,000
2601 PENNSYLVANIA AVENUE Unit 602, Philadelphia, PA 19130
The association covers several building services, including water, gas, sewer, insurance, and trash removal.
Property Size945 SF
Days on Market19
Property Features for 2601 PENNSYLVANIA AVENUE Unit 602
General Information
Standard status
Active
Size
945 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
North Philadelphia
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,304
Amenities
great views
elegant lobby
on-site fitness center
Building Details
Building Size
945 SF
Year Built
1950
Listing Agency:
Smires & Associates
Listed By:
Edward J Smires Jr. · License #RM426199
(609) 638-2904
Source:
Patmckennarealtors
Added: Oct 14
Changed: Oct 31
Last Checked: Oct 30 at 9:15PM
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 Smires & Associates
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Investment Insights
Based on property information with market context.
This condominium was built in 1950 and contains two bedrooms and one bathroom. Residents have access to an on-site fitness center, and the building has a lobby. Association fees cover water, sewer, gas, insurance, and trash removal.
The property is in Philadelphia’s Art Museum area, near museums, restaurants, shopping, and train and bus service.
The property is in Philadelphia’s Art Museum area, near museums, restaurants, shopping, and train and bus service.
Key Highlights
- Two‑bedroom, one‑bath condominium
- On‑site fitness center and building lobby
- Association fees cover water, sewer, gas, insurance, and trash removal
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,864
Cap Rate
7.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$297,280
$297.3K
Cap Rate 7%
$212,343
$212.3K
Cap Rate 9%
$165,156
$165.2K
Market Conditions
NOI Build-Up for 945 SF
Gross rent
$28.7K $30.36/SF
− Vacancy
−$1.7K −$1.76/SF
EGI
$27.0K $28.60/SF
− OpEx
−$12.2K −$12.87/SF
NOI
$14.9K $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%
$297,280
Cap Rate 7%
$212,343
Cap Rate 9%
$165,156
Alternative Uses
Best Use
Apartment 5plus
$212.3K
$185.8K – $247.7K
NOI $14,864 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$230.4K
$201.6K – $268.8K
NOI $16,126 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
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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 - The association covers several building services, including water, gas, sewer, insurance, and trash removal.
Where is this residential income property located?
The property is located at 2601 PENNSYLVANIA AVENUE Unit 602 Philadelphia, PA.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath condominium; On‑site fitness center and building lobby; Association fees cover water, sewer, gas, insurance, and trash removal
