Two-Bedroom Residential Income
For Sale
$230,000
2601 PENNSYLVANIA AVENUE Unit 253, Philadelphia, PA 19130
The residence combines in-unit laundry with building amenities that include a fitness center, shuttle service, and round-the-clock concierge.
Property Size972 SF
Price / SF$236.63
Days on Market10
Property Features for 2601 PENNSYLVANIA AVENUE Unit 253
General Information
Standard status
Active
Size
972 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
North Philadelphia
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,397
Amenities
24-hour concierge service
secure entry
fitness center
shuttle service
in-unit laundry
Building Details
Building Size
972 SF
Year Built
1950
Listing Agency:
KW Main Line - Narberth
Listed By:
Damon C. Michels · License #AB067731
(610) 731-9300
Source:
Patmckennarealtors
Added: Oct 22
Changed: Oct 31
Last Checked: Oct 30 at 7:42PM
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 Main Line - Narberth
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Investment Insights
Based on property information with market context.
This 972-square-foot, two-bedroom residence is in a full-service building constructed in 1950. Hardwood flooring defines the living room, and an adjoining dining area adds a separate space for meals. The galley kitchen has gas cooking, stainless steel appliances, and butcher block counters. A full bathroom and in-unit laundry complete the layout. Building amenities include secure entry, a fitness center, 24-hour concierge service, and shuttle service to Center City.
The property is at 2601 Pennsylvania Avenue in Philadelphia’s Art Museum area. Fairmount shops and restaurants, Whole Foods, Boathouse Row, Kelly Drive, and the Art Museum are within walking distance, with Center City also accessible.
The property is at 2601 Pennsylvania Avenue in Philadelphia’s Art Museum area. Fairmount shops and restaurants, Whole Foods, Boathouse Row, Kelly Drive, and the Art Museum are within walking distance, with Center City also accessible.
Key Highlights
- 972‑square‑foot residence with two bedrooms and one full bathroom
- Hardwood‑floored living room and separate dining area
- Galley kitchen with gas cooking, stainless steel appliances, and butcher block countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,289
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$305,780
$305.8K
Cap Rate 7%
$218,414
$218.4K
Cap Rate 9%
$169,878
$169.9K
Market Conditions
NOI Build-Up for 972 SF
Gross rent
$29.5K $30.36/SF
− Vacancy
−$1.7K −$1.76/SF
EGI
$27.8K $28.60/SF
− OpEx
−$12.5K −$12.87/SF
NOI
$15.3K $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%
$305,780
Cap Rate 7%
$218,414
Cap Rate 9%
$169,878
Alternative Uses
Best Use
Apartment 5plus
$218.4K
$191.1K – $254.8K
NOI $15,289 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$237.0K
$207.3K – $276.5K
NOI $16,587 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
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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 - The residence combines in-unit laundry with building amenities that include a fitness center, shuttle service, and round-the-clock concierge.
Where is this residential income property located?
The property is located at 2601 PENNSYLVANIA AVENUE Unit 253 Philadelphia, PA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 972‑square‑foot residence with two bedrooms and one full bathroom; Hardwood‑floored living room and separate dining area; Galley kitchen with gas cooking, stainless steel appliances, and butcher block countertops
