One-Bedroom Residential Income
For Sale
$180,000
Pending
2601 PENNSYLVANIA AVENUE Unit 847, Philadelphia, PA 19130
Freshly painted condominium with skyline, river, and museum views in a full-service building.
Property Size756 SF
Days on Market42
Property Features for 2601 PENNSYLVANIA AVENUE Unit 847
General Information
Standard status
Pending
Size
756 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,842
Amenities
24/7 concierge
fitness center
community room
convenience store
bus transportation
in-unit laundry
Building Details
Building Size
756 SF
Year Built
1950
Listing Agency:
BHHS Fox & Roach-Center City Walnut
Listed By:
Frank L DeFazio · License #RS299840
(610) 636-4364
Source:
Patmckennarealtors
Added: Jul 29
Changed: Sep 2
Last Checked: Sep 1 at 10:43PM
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-Center City Walnut
Investment Insights
Based on property information with market context.
Unit 847 is a freshly painted, move-in-ready condominium with a one-bedroom layout and expansive views toward the Art Museum, city skyline, and Schuylkill River. The interior includes an open living area, separate dining room, galley kitchen, full bathroom with tub, and substantial storage. A coat closet, hall storage, in-unit laundry, and a walk-in bedroom closet add practical functionality. The building was constructed in 1950.
Building services include 24/7 concierge coverage, elevators, a fitness center, community room, convenience store, and bus transportation. The monthly condo fee includes gas and water. The property is near Rittenhouse Square, Fitler Square, Schuylkill River Trail, dining, and shopping, with access to Kelly Drive and I-76 nearby.
Building services include 24/7 concierge coverage, elevators, a fitness center, community room, convenience store, and bus transportation. The monthly condo fee includes gas and water. The property is near Rittenhouse Square, Fitler Square, Schuylkill River Trail, dining, and shopping, with access to Kelly Drive and I-76 nearby.
Key Highlights
- One‑bedroom condominium with open living area and separate dining room
- Views of the Art Museum, city skyline, and Schuylkill River
- In‑unit laundry plus coat, hall, and walk‑in bedroom closets
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
$11,892
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
6.61%
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%
$237,840
$237.8K
Cap Rate 7%
$169,886
$169.9K
Cap Rate 9%
$132,133
$132.1K
Market Conditions
NOI Build-Up for 756 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
$23.0K $30.36/SF
− Vacancy
−$1.3K −$1.76/SF
EGI
$21.6K $28.60/SF
− OpEx
−$9.7K −$12.87/SF
NOI
$11.9K $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 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%
$237,840
Cap Rate 7%
$169,886
Cap Rate 9%
$132,133
Alternative Uses
Best Use
Apartment 5plus
$169.9K
$148.7K – $198.2K
NOI $11,892 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$184.3K
$161.3K – $215.0K
NOI $12,901 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Freshly painted condominium with skyline, river, and museum views in a full-service building.
Where is this residential income property located?
The property is located at 2601 PENNSYLVANIA AVENUE Unit 847 Philadelphia, PA.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: One‑bedroom condominium with open living area and separate dining room; Views of the Art Museum, city skyline, and Schuylkill River; In‑unit laundry plus coat, hall, and walk‑in bedroom closets
