Renovated Studio Residential Income
For Sale
$157,500
604 S WASHINGTON SQUARE Unit 118, Philadelphia, PA 19106
Open living areas, updated finishes, strong closet storage, and full-service building amenities define this studio residence.
Property Size450 SF
Days on Market22
Property Features for 604 S WASHINGTON SQUARE Unit 118
General Information
Standard status
Active
Size
450 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,547
Amenities
24-hour doorman
seasonal rooftop pool
valet parking
on-site management
Building Details
Building Size
450 SF
Year Built
1973
Listing Agency:
Allan Domb Real Estate
(215) 545-1500
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Patmckennarealtors
Added: Jul 14
Changed: Aug 4
Last Checked: Aug 4 at 4:43AM
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 Allan Domb Real Estate
Investment Insights
Based on property information with market context.
This renovated studio residential income property offers an open great-room layout with oversized windows, dedicated sleeping space, and room for living and dining. The kitchen has dark wood cabinetry, a tile backsplash, and stainless steel appliances. A dressing area with substantial closet capacity connects to the bathroom, which includes a white vanity and tub-shower combination. Vinyl flooring and abundant natural light continue throughout the unit. Built in 1973, the property is located at 604 S Washington Square, Unit 118, in Philadelphia, PA 19106.
Hopkinson House provides a 24-hour doorman and on-site management. Building amenities include a seasonal rooftop pool with city views and valet parking, available for an additional fee and subject to availability. The property is near historic and cultural sites, shopping, dining, the Broad Street and Market Street office corridors, 676, 95, Amtrak’s 30th Street Station, and Philadelphia International Airport.
Hopkinson House provides a 24-hour doorman and on-site management. Building amenities include a seasonal rooftop pool with city views and valet parking, available for an additional fee and subject to availability. The property is near historic and cultural sites, shopping, dining, the Broad Street and Market Street office corridors, 676, 95, Amtrak’s 30th Street Station, and Philadelphia International Airport.
Key Highlights
- Renovated studio with open great‑room floorplan and oversized windows
- Updated kitchen with dark wood cabinetry, tile backsplash, and stainless steel appliances
- Dedicated sleeping area plus dressing area and deep walk‑in closet
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 | $13.7k | $30.36 |
| − Vacancy | −$792 | −$1.76 |
| EGI | $12.9k | $28.60 |
| − OpEx | −$5.8k | −$12.87 |
| NOI | $7.1k | $15.73 |
450 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$101.1K
$88.5K – $118.0K
NOI $7,078 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$109.7K
$96.0K – $128.0K
NOI $7,679 @ 7.0% cap · market cap 4.88%
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
16,563
Businesses Nearby
Explore this area
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
$528,700
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Philadelphia, PA
Properties on Market for Residential income properties in Philadelphia
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open living areas, updated finishes, strong closet storage, and full-service building amenities define this studio residence.
Where is this residential income property located?
The property is located at 604 S WASHINGTON SQUARE Unit 118 Philadelphia, PA.
What is the asking price?
The asking price for this property is $157,500.
What are key features of this property?
This property features: Renovated studio with open great‑room floorplan and oversized windows; Updated kitchen with dark wood cabinetry, tile backsplash, and stainless steel appliances; Dedicated sleeping area plus dressing area and deep walk‑in closet
