Residential Income Property with Rooftop
For Sale
$265,000
520 W MONTGOMERY AVENUE #3, Philadelphia, PA 19122
Contemporary condominium with private outdoor space, modern finishes, and convenient access to Temple University and Philadelphia transit.
Property Size1,218 SF
Price / SF$217.57
Days on Market46
Property Features for 520 W MONTGOMERY AVENUE #3
General Information
Standard status
Active
Size
1,218 SF
Property subtype
Apartment
Units
Unit Mix
2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
private rooftop deck
Central
Central A/C
Building Details
Year Built
2019
Listed By:
Melody Xing · License #2182782
(856) 536-0980
Source:
Kw
Added: Jul 25
Changed: Sep 7
Last Checked: Sep 7 at 7:29PM
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 Melody Xing
Investment Insights
Based on property information with market context.
Built in 2019, this residential income property is a contemporary condominium at 520 W Montgomery Avenue, Unit 3, with 2 bedrooms, 2 full bathrooms, and approximately 1,218 square feet. The open layout includes hardwood flooring, soaring ceilings, oversized windows, and a kitchen equipped with quartz countertops, stainless steel appliances, and custom cabinetry. The primary bedroom offers a walk-in closet and private en-suite bathroom, while the second bedroom and additional full bath provide flexible living space. Central A/C is included.
A private rooftop deck adds outdoor living area with Philadelphia skyline views. The property also carries a remaining Philadelphia tax abatement. Its location is described as about 10 minutes from Temple University and near Center City Philadelphia, public transportation, neighborhood parks, restaurants, coffee shops, and major commuter routes.
A private rooftop deck adds outdoor living area with Philadelphia skyline views. The property also carries a remaining Philadelphia tax abatement. Its location is described as about 10 minutes from Temple University and near Center City Philadelphia, public transportation, neighborhood parks, restaurants, coffee shops, and major commuter routes.
Key Highlights
- Private rooftop deck with Philadelphia skyline views
- 2 bedrooms and 2 full bathrooms in approximately 1,218 square feet
- Built in 2019 with an open‑concept layout and hardwood flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,159
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$383,180
$383.2K
Cap Rate 7%
$273,700
$273.7K
Cap Rate 9%
$212,878
$212.9K
Market Conditions
NOI Build-Up for 1,218 SF
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.
Gross rent
$37.0K $30.36/SF
− Vacancy
−$2.1K −$1.76/SF
EGI
$34.8K $28.60/SF
− OpEx
−$15.7K −$12.87/SF
NOI
$19.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$383,180
Cap Rate 7%
$273,700
Cap Rate 9%
$212,878
Alternative Uses
Best Use
Apartment 5plus
$273.7K
$239.5K – $319.3K
NOI $19,159 @ 7.0% cap · market cap 7.23%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$296.9K
$259.8K – $346.4K
NOI $20,785 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,830
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Contemporary condominium with private outdoor space, modern finishes, and convenient access to Temple University and Philadelphia transit.
Where is this residential income property located?
The property is located at 520 W MONTGOMERY AVENUE #3 Philadelphia, PA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Private rooftop deck with Philadelphia skyline views; 2 bedrooms and 2 full bathrooms in approximately 1,218 square feet; Built in 2019 with an open‑concept layout and hardwood flooring
