Historic Residential Income Property with Roof
For Sale
$1,695,000
33 N 3RD STREET Unit 4A, Philadelphia, PA 19106
Two-level Old City residence with industrial character, private elevator access, and a substantial rooftop outdoor space.
Property Size4,730 SF
Price / SF$360.64
Days on Market39
Property Features for 33 N 3RD STREET Unit 4A
General Information
Standard status
Active
Size
4,730 SF
Elevators
Yes
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/3BA
Multifamily Units
1
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$23,796
Amenities
private roof deck
Building Details
Building Size
4,730 SF
Year Built
1900
Listing Agency:
KW Empower
Listed By:
James Price · License #RS321600
(215) 375-4538
Source:
Patmckennarealtors
Added: Sep 14
Changed: Oct 21
Last Checked: Oct 21 at 3:20AM
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 KW Empower
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Investment Insights
Based on property information with market context.
This two-level residential income property provides over 4,700 square feet of living area with two bedrooms and three baths. The interior retains warehouse-inspired proportions, including soaring ceilings, broad walls, extensive built-in storage, and a glass atrium that brings natural light to the upper level. Private elevator access serves both floors, while the primary suite includes a walk-in closet, laundry area, and bath with a steam shower.
Outdoor space is a defining feature, with a private roof deck spanning over 1,400 square feet and offering 270-degree views across the Philadelphia skyline. The property is in Old City, surrounded by historic architecture, galleries, and restaurants. The seller is also offering two years of two-car parking directly adjacent to the building with an acceptable offer.
Outdoor space is a defining feature, with a private roof deck spanning over 1,400 square feet and offering 270-degree views across the Philadelphia skyline. The property is in Old City, surrounded by historic architecture, galleries, and restaurants. The seller is also offering two years of two-car parking directly adjacent to the building with an acceptable offer.
Key Highlights
- Over 4,700 square feet across two levels with two bedrooms and three baths
- Private roof deck spans over 1,400 square feet
- 270‑degree Philadelphia skyline views from the rooftop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,929
Cap Rate
4.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,478,580
$1.5M
Cap Rate 7%
$1,056,129
$1.1M
Cap Rate 9%
$821,433
$821.4K
Market Conditions
NOI Build-Up for 4,700 SF
Gross rent
$142.7K $30.36/SF
− Vacancy
−$8.3K −$1.76/SF
EGI
$134.4K $28.60/SF
− OpEx
−$60.5K −$12.87/SF
NOI
$73.9K $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%
$1,478,580
Cap Rate 7%
$1,056,129
Cap Rate 9%
$821,433
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$924.1K – $1.23M
NOI $73,929 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.15M
$1.00M – $1.34M
NOI $80,205 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
12,044
Businesses Nearby
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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 - Two-level Old City residence with industrial character, private elevator access, and a substantial rooftop outdoor space.
Where is this residential income property located?
The property is located at 33 N 3RD STREET Unit 4A Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Over 4,700 square feet across two levels with two bedrooms and three baths; Private roof deck spans over 1,400 square feet; 270‑degree Philadelphia skyline views from the rooftop
