Studio Residential Income
For Sale
$215,000
Pending
315 NEW STREET Unit 504, Philadelphia, PA 19106
Bright studio residence with deeded parking, exposed brick, custom storage, and access to extensive building amenities.
Property Size506 SF
Days on Market80
Property Features for 315 NEW STREET Unit 504
General Information
Standard status
Pending
Size
506 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Highway Access
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,043
Amenities
24-hr concierge
on-site management
landscaped courtyard with grills
rooftop deck
additional storage unit
Building Details
Building Size
506 SF
Year Built
1900
Listing Agency:
BHHS Fox & Roach The Harper at Rittenhouse Square
Listed By:
Heidi J Logan · License #AB069581
(215) 268-7698
Source:
Patmckennarealtors
Added: Aug 14
Changed: Oct 31
Last Checked: Nov 1 at 1:32PM
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 BHHS Fox & Roach The Harper at Rittenhouse Square
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Investment Insights
Based on property information with market context.
Unit 504 is a studio residence in Bridgeview Place, a building constructed in 1900. The space includes tall factory windows, high ceilings, exposed brick, a built-in Murphy bed, a custom closet system, and a separate storage unit located down the hall. Deeded parking is included.
Building amenities include 24-hour concierge service, on-site management, a landscaped courtyard with grills, and a rooftop deck offering city and river views. The property is located at 315 New Street in Philadelphia’s Old City, on a tree-lined cobblestone street near cafes, restaurants, boutiques, First Friday events, and the waterfront. Access to the Ben Franklin Bridge, highways, and transportation is also available.
Building amenities include 24-hour concierge service, on-site management, a landscaped courtyard with grills, and a rooftop deck offering city and river views. The property is located at 315 New Street in Philadelphia’s Old City, on a tree-lined cobblestone street near cafes, restaurants, boutiques, First Friday events, and the waterfront. Access to the Ben Franklin Bridge, highways, and transportation is also available.
Key Highlights
- Studio unit with tall factory windows, high ceilings, and exposed brick
- Deeded parking included with Unit 504
- Built‑in Murphy bed and custom closet system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,959
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$159,180
$159.2K
Cap Rate 7%
$113,700
$113.7K
Cap Rate 9%
$88,433
$88.4K
Market Conditions
NOI Build-Up for 506 SF
Gross rent
$15.4K $30.36/SF
− Vacancy
−$891 −$1.76/SF
EGI
$14.5K $28.60/SF
− OpEx
−$6.5K −$12.87/SF
NOI
$8.0K $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%
$159,180
Cap Rate 7%
$113,700
Cap Rate 9%
$88,433
Alternative Uses
Best Use
Apartment 5plus
$113.7K
$99.5K – $132.7K
NOI $7,959 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$123.4K
$107.9K – $143.9K
NOI $8,635 @ 7.0% cap · market cap 4.02%
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 - Bright studio residence with deeded parking, exposed brick, custom storage, and access to extensive building amenities.
Where is this residential income property located?
The property is located at 315 NEW STREET Unit 504 Philadelphia, PA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Studio unit with tall factory windows, high ceilings, and exposed brick; Deeded parking included with Unit 504; Built‑in Murphy bed and custom closet system
