One-Bedroom Residential
For Sale
$319,000
Pending
301 RACE STREET Unit 409, Philadelphia, PA 19106
A loft-style condominium combines courtyard views, in-unit laundry, and dedicated storage in Philadelphia’s Old City.
Property Size715 SF
Days on Market41
Property Features for 301 RACE STREET Unit 409
General Information
Standard status
Pending
Size
715 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
$3,495
Amenities
in-unit washer and dryer
dedicated bike storage
separate dedicated storage unit
courtyard
Building Details
Building Size
715 SF
Year Built
1870
Listing Agency:
Redfin Corporation
Listed By:
Elizabeth A Tumasz · License #RS331695
(484) 962-0034
Source:
Patmckennarealtors
Added: Sep 22
Changed: Oct 31
Last Checked: Nov 1 at 11:54AM
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 Redfin Corporation
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Investment Insights
Based on property information with market context.
Unit 409 is a one-bedroom residence in the WireWorks condominium, a building dating to 1870. Its open living area has west-facing windows that look onto the courtyard, along with exposed beams and loft-like proportions. The bedroom connects to a Jack-and-Jill-style bathroom accessible from the living area as well. An attic crawl space, a separate storage unit, dedicated bicycle storage, and an in-unit washer and dryer add practical features. Residents can use the courtyard driveway for loading and unloading, and the condo fee includes water and sewer.
The property is at 301 Race Street in Philadelphia’s Old City. Riverwards Produce Market is around the corner; galleries, restaurants, cafés, shops, and historic sites are also part of the surrounding area. I-95, other major roads, and nearby SEPTA and PATCO stations provide transportation connections.
The property is at 301 Race Street in Philadelphia’s Old City. Riverwards Produce Market is around the corner; galleries, restaurants, cafés, shops, and historic sites are also part of the surrounding area. I-95, other major roads, and nearby SEPTA and PATCO stations provide transportation connections.
Key Highlights
- One‑bedroom unit in the WireWorks condominium, built in 1870
- West‑facing windows overlook the courtyard
- In‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,247
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$224,940
$224.9K
Cap Rate 7%
$160,671
$160.7K
Cap Rate 9%
$124,967
$125.0K
Market Conditions
NOI Build-Up for 715 SF
Gross rent
$21.7K $30.36/SF
− Vacancy
−$1.3K −$1.76/SF
EGI
$20.4K $28.60/SF
− OpEx
−$9.2K −$12.87/SF
NOI
$11.2K $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%
$224,940
Cap Rate 7%
$160,671
Cap Rate 9%
$124,967
Alternative Uses
Best Use
Apartment 5plus
$160.7K
$140.6K – $187.5K
NOI $11,247 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$174.3K
$152.5K – $203.4K
NOI $12,201 @ 7.0% cap · market cap 3.82%
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
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
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Frequently Asked Questions
What type of property is this?
Residential income property - A loft-style condominium combines courtyard views, in-unit laundry, and dedicated storage in Philadelphia’s Old City.
Where is this residential income property located?
The property is located at 301 RACE STREET Unit 409 Philadelphia, PA.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: One‑bedroom unit in the WireWorks condominium, built in 1870; West‑facing windows overlook the courtyard; In‑unit washer and dryer
