Residential Income Property with Roof
New
For Sale
$599,000
3200 SUMMER STREET Unit 11, Philadelphia, PA 19104
Two bedrooms, two full baths, a powder room, and deeded parking support practical residential use.
Property Size1,248 SF
Days on Market5
Property Features for 3200 SUMMER STREET Unit 11
General Information
Standard status
Active
Size
1,248 SF
Total Parking Spaces
1
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Neighborhood
Powelton
Public Transit
Yes
Units
Unit Mix
2BR/2.5BA
Multifamily Units
1
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$648
Amenities
balcony
private roof deck
washer/dryer
ceiling fans
window treatments
Building Details
Building Size
1,248 SF
Year Built
2018
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Thomas S Dilsheimer · License #RS222491L
(610) 389-1482
Source:
Patmckennarealtors
Added: Oct 28
Changed: Oct 31
Last Checked: Oct 31 at 3:14AM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
This 2018 condominium has two bedrooms, two full bathrooms, and a powder room across two levels. Hardwood flooring, oversized windows, and a living-room balcony shape the main floor, alongside a kitchen with a Thermador range, additional appliances, pantry storage, and a counter peninsula. Upstairs, the primary bedroom has an en-suite bath with a double vanity and marble walk-in shower. Laundry is provided by a full-size stacked washer and dryer. A private roof deck and one deeded parking space are included; building systems include energy-efficient mechanicals, a tankless water heater, and sprinklers. Three years remain on the tax abatement.
The property is in Powelton Village, near Drexel, Penn, HUP, Penn Presbyterian, and CHOP. 30th Street Station is nearby, with SEPTA, Market-Frankford Line, and Amtrak service.
The property is in Powelton Village, near Drexel, Penn, HUP, Penn Presbyterian, and CHOP. 30th Street Station is nearby, with SEPTA, Market-Frankford Line, and Amtrak service.
Key Highlights
- Two‑bedroom, 2.5‑bathroom condominium built in 2018
- Private roof deck and living‑room balcony
- One deeded parking space included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,630
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$392,600
$392.6K
Cap Rate 7%
$280,429
$280.4K
Cap Rate 9%
$218,111
$218.1K
Market Conditions
NOI Build-Up for 1,248 SF
Gross rent
$37.9K $30.36/SF
− Vacancy
−$2.2K −$1.76/SF
EGI
$35.7K $28.60/SF
− OpEx
−$16.1K −$12.87/SF
NOI
$19.6K $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%
$392,600
Cap Rate 7%
$280,429
Cap Rate 9%
$218,111
Alternative Uses
Best Use
Apartment 5plus
$280.4K
$245.4K – $327.2K
NOI $19,630 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$304.2K
$266.2K – $355.0K
NOI $21,297 @ 7.0% cap · market cap 3.56%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
5,082
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two bedrooms, two full baths, a powder room, and deeded parking support practical residential use.
Where is this residential income property located?
The property is located at 3200 SUMMER STREET Unit 11 Philadelphia, PA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑bedroom, 2.5‑bathroom condominium built in 2018; Private roof deck and living‑room balcony; One deeded parking space included
