Residential Income
New
For Sale
$362,500
6038 LOCUST STREET, Philadelphia, PA 19139
Located in Philadelphia, the property carries RM1 zoning and a traditional exterior style.
Property Size1,614 SF
Days on Market7
Property Features for 6038 LOCUST STREET
General Information
Standard status
Active
Size
1,614 SF
Property subtype
Triplex
Site & Location
Neighborhood
West Philadelphia
Taxes and HOA fees
Annual Taxes
$1,504
Building Details
Building Size
1,614 SF
Year Built
1925
Listing Agency:
KW Empower
Listed By:
Asa Kurland · License #RS349157
(267) 388-1114
Source:
Patmckennarealtors
Added: Oct 26
Changed: Oct 31
Last Checked: Oct 30 at 9:01PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential income property at 6038 Locust Street in Philadelphia was built in 1925. The property has RM1 zoning and a traditional exterior style. Off-street is also listed among its exterior features.
Key Highlights
- Built in 1925
- RM1 zoning
- 6038 Locust Street, Philadelphia, PA 19139
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,387
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$507,740
$507.7K
Cap Rate 7%
$362,671
$362.7K
Cap Rate 9%
$282,078
$282.1K
Market Conditions
NOI Build-Up for 1,614 SF
Gross rent
$49.0K $30.36/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$46.2K $28.60/SF
− OpEx
−$20.8K −$12.87/SF
NOI
$25.4K $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%
$507,740
Cap Rate 7%
$362,671
Cap Rate 9%
$282,078
Alternative Uses
Best Use
Apartment 5plus
$362.7K
$317.3K – $423.1K
NOI $25,387 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$393.5K
$344.3K – $459.1K
NOI $27,543 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,477
Businesses Nearby
Explore this area
Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - Located in Philadelphia, the property carries RM1 zoning and a traditional exterior style.
Where is this residential income property located?
The property is located at 6038 LOCUST STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $362,500.
What are key features of this property?
This property features: Built in 1925; RM1 zoning; 6038 Locust Street, Philadelphia, PA 19139
