Historic One-Bedroom Loft
New
For Sale
$239,900
301 RACE STREET Unit 215, Philadelphia, PA 19106
Second-floor condominium in a converted historic warehouse with exposed masonry and open living space.
Property Size555 SF
Days on Market4
Property Features for 301 RACE STREET Unit 215
General Information
Standard status
Active
Size
555 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,806
Building Details
Building Size
555 SF
Year Built
1870
Construction
converted warehouse
Listing Agency:
Penn-Jersey Realty, LLC
(267) 339-4341
Listed By:
James A. Olivieri · License #RM424469
(267) 339-4341
Source:
Patmckennarealtors
Added: Aug 1
Changed: Aug 4
Last Checked: Aug 4 at 6:04AM
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 Penn-Jersey Realty, LLC
Investment Insights
Based on property information with market context.
This one-bedroom loft condominium occupies the second floor of a warehouse conversion built in 1870. The residence retains industrial character through exposed masonry, large windows, and an open living area. The building is listed on the Philadelphia Register of Historic Places, adding a documented historic component to the property.
Located at 301 Race Street in Philadelphia’s Old City, the home is near Elfreth’s Alley, the Delaware River waterfront, Independence Historic Park, galleries, cafés, and restaurants. I-95, public transit, and Center City are also described as minutes away. The property is presented as suitable for either a primary residence or an investment use.
Located at 301 Race Street in Philadelphia’s Old City, the home is near Elfreth’s Alley, the Delaware River waterfront, Independence Historic Park, galleries, cafés, and restaurants. I-95, public transit, and Center City are also described as minutes away. The property is presented as suitable for either a primary residence or an investment use.
Key Highlights
- One‑bedroom loft condo on the 2nd floor
- Warehouse conversion built in 1870
- Listed on the Philadelphia Register of Historic Places
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.8k | $30.36 |
| − Vacancy | −$977 | −$1.76 |
| EGI | $15.9k | $28.60 |
| − OpEx | −$7.1k | −$12.87 |
| NOI | $8.7k | $15.73 |
555 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$124.7K
$109.1K – $145.5K
NOI $8,730 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$135.3K
$118.4K – $157.9K
NOI $9,471 @ 7.0% cap · market cap 3.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
10,341
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
$528,700
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Philadelphia, PA
Properties on Market for Residential income properties in Philadelphia
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condominium in a converted historic warehouse with exposed masonry and open living space.
Where is this residential income property located?
The property is located at 301 RACE STREET Unit 215 Philadelphia, PA.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: One‑bedroom loft condo on the 2nd floor; Warehouse conversion built in 1870; Listed on the Philadelphia Register of Historic Places
