Updated Two-Bedroom Residential
New
For Sale
$650,000
28 N 3RD STREET Unit 4F, Philadelphia, PA 19106
The residence includes an open living and dining area, a separate flex space, and a private balcony.
Property Size1,500 SF
Days on Market4
Property Features for 28 N 3RD STREET Unit 4F
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$9,798
Amenities
in-unit laundry
private storage locker
balcony
Building Details
Building Size
1,500 SF
Year Built
1900
Listing Agency:
Coldwell Banker Realty
Listed By:
MaryBeth A Oates · License #RS298900
(267) 252-9813
Source:
Patmckennarealtors
Added: Nov 2
Changed: Nov 5
Last Checked: Nov 5 at 2:37AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Set in a building dating to 1900, this two-bedroom, two-bath condominium pairs historic architectural details with updated interiors. Three arched windows bring natural light into the residence, while hardwood floors and high ceilings define the main living area. The open kitchen features a Wolf gas range, Sub-Zero refrigerator, Bosch dishwasher, wine refrigerator with capacity for 90+ bottles, center island, and substantial storage. A nearby flex area can serve as an office, den, or guest space. The primary bedroom has custom closets and an ensuite bath with a glass shower and rainfall showerhead. In-unit laundry, a private storage locker, and a balcony complete the layout.
The home is in Philadelphia’s Old City, close to restaurants, galleries, museums, Independence Mall, Penn’s Landing, public transportation, I-95, and I-676. Parking is available nearby.
The home is in Philadelphia’s Old City, close to restaurants, galleries, museums, Independence Mall, Penn’s Landing, public transportation, I-95, and I-676. Parking is available nearby.
Key Highlights
- Two bedrooms and two bathrooms in a building constructed in 1900
- Three oversized arched windows
- Kitchen includes Wolf gas range, Sub‑Zero refrigerator, and Bosch dishwasher
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,594
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,880
$471.9K
Cap Rate 7%
$337,057
$337.1K
Cap Rate 9%
$262,156
$262.2K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$45.5K $30.36/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$42.9K $28.60/SF
− OpEx
−$19.3K −$12.87/SF
NOI
$23.6K $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%
$471,880
Cap Rate 7%
$337,057
Cap Rate 9%
$262,156
Alternative Uses
Best Use
Apartment 5plus
$337.1K
$294.9K – $393.2K
NOI $23,594 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$365.7K
$320.0K – $426.6K
NOI $25,597 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
11,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The residence includes an open living and dining area, a separate flex space, and a private balcony.
Where is this residential income property located?
The property is located at 28 N 3RD STREET Unit 4F Philadelphia, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two bedrooms and two bathrooms in a building constructed in 1900; Three oversized arched windows; Kitchen includes Wolf gas range, Sub‑Zero refrigerator, and Bosch dishwasher
