Three-Level Residential Income
For Sale
$519,900
402 N FRONT STREET Unit 4, Philadelphia, PA 19123
New-construction condominium with contemporary finishes, private rooftop space, and central air and heat.
Property Size1,475 SF
Days on Market23
Property Features for 402 N FRONT STREET Unit 4
General Information
Standard status
Active
Size
1,475 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$928
Amenities
private rooftop deck
security system
Building Details
Building Size
1,475 SF
Year Built
2021
Listing Agency:
TCS Management, LLC
(610) 730-7712
Listed By:
Dean Pileggi
(610) 730-7712
Source:
Patmckennarealtors
Added: Jul 13
Changed: Aug 4
Last Checked: Aug 4 at 4:44AM
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 TCS Management, LLC
Investment Insights
Based on property information with market context.
This 2021-built residential income property is configured as a three-level condominium with two bedrooms, two and a half bathrooms, and a private rooftop deck. The main floor has an open layout, oversized windows, hardwood flooring, a modern kitchen with stainless steel appliances, a half bathroom, and storage. The second level includes a bedroom, full bathroom, laundry room, and linen storage. A private primary suite occupies the third floor and includes generous closet space and an en-suite bathroom with a double vanity. Central air and heat are managed through a Nest thermostat, while a security system is positioned near the entrance. The roof was recently sealed, and approximately six years remain on the tax abatement.
The property is located at 402 N Front Street, Unit 4, in Philadelphia, PA 19123. It is described as being steps from the waterfront and Dave & Buster’s, with access to major highways. The rooftop deck provides views toward the skyline, Ben Franklin Bridge, and Delaware River.
The property is located at 402 N Front Street, Unit 4, in Philadelphia, PA 19123. It is described as being steps from the waterfront and Dave & Buster’s, with access to major highways. The rooftop deck provides views toward the skyline, Ben Franklin Bridge, and Delaware River.
Key Highlights
- 2021‑built three‑level condominium with 2 bedrooms and 2.5 bathrooms
- Private rooftop deck with skyline, Ben Franklin Bridge, and Delaware River views
- Open main level with hardwood floors, oversized windows, and stainless steel appliances
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.8k | $30.36 |
| − Vacancy | −$2.6k | −$1.76 |
| EGI | $42.2k | $28.60 |
| − OpEx | −$19.0k | −$12.87 |
| NOI | $23.2k | $15.73 |
1,475 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$331.4K
$290.0K – $386.7K
NOI $23,201 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$359.6K
$314.6K – $419.5K
NOI $25,171 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,604
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Philadelphia, PA
Properties on Market for Residential income properties in Philadelphia
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Frequently Asked Questions
What type of property is this?
Residential income property - New-construction condominium with contemporary finishes, private rooftop space, and central air and heat.
Where is this residential income property located?
The property is located at 402 N FRONT STREET Unit 4 Philadelphia, PA.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: 2021‑built three‑level condominium with 2 bedrooms and 2.5 bathrooms; Private rooftop deck with skyline, Ben Franklin Bridge, and Delaware River views; Open main level with hardwood floors, oversized windows, and stainless steel appliances
