Residential Income Property with
For Sale
$295,000
301 RACE STREET Unit C007, Philadelphia, PA 19106
The condominium pairs an open-plan interior with a private outdoor entry and patio.
Property Size750 SF
Days on Market17
Property Features for 301 RACE STREET Unit C007
General Information
Standard status
Active
Size
750 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,692
Amenities
private courtyard entrance
patio
private driveway
bike storage
separate storage unit
in-unit washer and dryer
pet-friendly
Building Details
Building Size
750 SF
Year Built
1870
Listing Agency:
Franklin Investment Realty
Listed By:
Matthew Scannapieco · License #AB069440
(215) 485-6018
Source:
Patmckennarealtors
Added: Oct 16
Changed: Oct 31
Last Checked: Oct 30 at 8:02PM
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 Franklin Investment Realty
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Investment Insights
Based on property information with market context.
This Philadelphia residential income property is a one-bedroom, 1.5-bath condominium with an open-concept layout, hardwood floors, recessed lighting, and oversized windows. The galley kitchen has granite counters and stainless steel GE appliances, including a Bosch dishwasher. The primary bedroom measures over 215 sq. ft. and includes a walk-in closet with custom built-ins. Marble-finished bathrooms, a curbless rainfall shower, and an updated in-unit washer and dryer complete the interior. The unit also has a private courtyard entrance and patio, a separate storage unit, bike storage, and a private driveway for loading and unloading. The building dates to 1870.
Located in Philadelphia’s Old City, the property is near restaurants, cafes, boutiques, galleries, Race Street Pier, and public transportation. I-95, I-676, and the Ben Franklin Bridge are accessible from the area.
Located in Philadelphia’s Old City, the property is near restaurants, cafes, boutiques, galleries, Race Street Pier, and public transportation. I-95, I-676, and the Ben Franklin Bridge are accessible from the area.
Key Highlights
- One‑bedroom, 1.5‑bath condominium
- Primary bedroom measures over 215 sq. ft.; walk‑in closet has custom built‑ins
- Private courtyard entrance and patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,797
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$235,940
$235.9K
Cap Rate 7%
$168,529
$168.5K
Cap Rate 9%
$131,078
$131.1K
Market Conditions
NOI Build-Up for 750 SF
Gross rent
$22.8K $30.36/SF
− Vacancy
−$1.3K −$1.76/SF
EGI
$21.4K $28.60/SF
− OpEx
−$9.7K −$12.87/SF
NOI
$11.8K $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%
$235,940
Cap Rate 7%
$168,529
Cap Rate 9%
$131,078
Alternative Uses
Best Use
Apartment 5plus
$168.5K
$147.5K – $196.6K
NOI $11,797 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$182.8K
$160.0K – $213.3K
NOI $12,799 @ 7.0% cap · market cap 4.34%
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 - The condominium pairs an open-plan interior with a private outdoor entry and patio.
Where is this residential income property located?
The property is located at 301 RACE STREET Unit C007 Philadelphia, PA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: One‑bedroom, 1.5‑bath condominium; Primary bedroom measures over 215 sq. ft.; walk‑in closet has custom built‑ins; Private courtyard entrance and patio
