Residential Income Property with Loft
For Sale
$575,000
314 N 12TH STREET Unit 505, Philadelphia, PA 19107
Historic condominium residence with European finishes, abundant glazing, and flexible space for living, dining, work, and entertaining.
Property Size1,958 SF
Days on Market80
Property Features for 314 N 12TH STREET Unit 505
General Information
Standard status
Active
Size
1,958 SF
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,915
Building Details
Building Size
1,958 SF
Year Built
1900
Listing Agency:
Coldwell Banker Realty
Listed By:
Philip R. Cavalcanto · License #RS287419
(215) 681-6610
Source:
Patmckennarealtors
Added: Aug 14
Changed: Oct 31
Last Checked: Oct 30 at 11:18PM
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.
This residential income property is a two-bedroom, two-bath condominium residence at Old Shoe Factory Condominiums. The interior combines an open living and dining arrangement with an oversized kitchen, dedicated office potential, and room for substantial furnishings and artwork. Approximately 60 feet of 8-foot-high windows bring natural light across the main living areas, while 11-foot ceilings reinforce the loft-style proportions. Schiffini cabinetry, Miele appliances, Vola fixtures, Lualdi doors, and Lema closets provide a consistent European design vocabulary. The building dates to 1900.
The property is located at 314 N 12th Street in Philadelphia’s Loft District and Callowhill area. Nearby destinations include Rail Park, Reading Terminal Market, Chinatown, The Met, Underground Arts, the Pennsylvania Convention Center, and Jefferson Station. Broad Street and I-676 provide convenient connections through Philadelphia and beyond.
The property is located at 314 N 12th Street in Philadelphia’s Loft District and Callowhill area. Nearby destinations include Rail Park, Reading Terminal Market, Chinatown, The Met, Underground Arts, the Pennsylvania Convention Center, and Jefferson Station. Broad Street and I-676 provide convenient connections through Philadelphia and beyond.
Key Highlights
- More than 1,900 square feet with 2 bedrooms and 2 full baths
- Approximately 60 feet of 8‑foot‑high windows
- 11‑foot ceilings create loft‑style interior volume
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,798
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,960
$616.0K
Cap Rate 7%
$439,971
$440.0K
Cap Rate 9%
$342,200
$342.2K
Market Conditions
NOI Build-Up for 1,958 SF
Gross rent
$59.4K $30.36/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$56.0K $28.60/SF
− OpEx
−$25.2K −$12.87/SF
NOI
$30.8K $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%
$615,960
Cap Rate 7%
$439,971
Cap Rate 9%
$342,200
Alternative Uses
Best Use
Apartment 5plus
$440.0K
$385.0K – $513.3K
NOI $30,798 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$477.3K
$417.7K – $556.9K
NOI $33,413 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
24,657
Businesses Nearby
Explore this area
Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Historic condominium residence with European finishes, abundant glazing, and flexible space for living, dining, work, and entertaining.
Where is this residential income property located?
The property is located at 314 N 12TH STREET Unit 505 Philadelphia, PA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: More than 1,900 square feet with 2 bedrooms and 2 full baths; Approximately 60 feet of 8‑foot‑high windows; 11‑foot ceilings create loft‑style interior volume
