Penthouse-Style Residential Income
For Sale
$575,000
716 N 15TH STREET Unit 501, Philadelphia, PA 19130
Two-bedroom, two-bath residence with private elevator access, skyline views, and a semi-private roof deck.
Property Size1,500 SF
Days on Market48
Property Features for 716 N 15TH STREET Unit 501
General Information
Standard status
Active
Size
1,500 SF
Elevators
Yes
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
roof deck
gas fireplace
walk-in pantry
Building Details
Building Size
1,500 SF
Year Built
2021
Listing Agency:
Compass Pennsylvania, LLC
(215) 939-5823
Listed By:
Melissa Valenti · License #RS285747
(215) 939-5823
Source:
Patmckennarealtors
Added: Jun 18
Changed: Jul 31
Last Checked: Aug 3 at 11:12AM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
Completed in 2021, this penthouse-style residence occupies the fifth floor of a five-unit boutique building. The elevator opens directly into the home, where a stone entry leads to an open living area with floor-to-ceiling windows, Center City skyline views, and a stone gas fireplace. Rich flooring, recessed lighting, and high-end finishes continue throughout the residence.
The kitchen includes professional-grade Thermador appliances, quartz countertops, and a large walk-in pantry. The primary suite features a walk-in closet and en-suite bathroom with premium tile and fixtures, while both bedrooms are generously proportioned. A semi-private roof deck offers 360-degree city views. Located in Philadelphia’s Francisville neighborhood, the property is near the Art Museum, Fairmount, museums, green spaces, coffee shops, bistros, and local boutiques. Approximately 6 years remain on the tax abatement.
The kitchen includes professional-grade Thermador appliances, quartz countertops, and a large walk-in pantry. The primary suite features a walk-in closet and en-suite bathroom with premium tile and fixtures, while both bedrooms are generously proportioned. A semi-private roof deck offers 360-degree city views. Located in Philadelphia’s Francisville neighborhood, the property is near the Art Museum, Fairmount, museums, green spaces, coffee shops, bistros, and local boutiques. Approximately 6 years remain on the tax abatement.
Key Highlights
- Two‑bedroom, two‑bath residence in a five‑unit boutique building
- Completed in 2021 with elevator access directly into the residence
- Floor‑to‑ceiling windows with unobstructed Center City skyline views
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 | $45.5k | $30.36 |
| − Vacancy | −$2.6k | −$1.76 |
| EGI | $42.9k | $28.60 |
| − OpEx | −$19.3k | −$12.87 |
| NOI | $23.6k | $15.73 |
1,500 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$337.1K
$294.9K – $393.2K
NOI $23,594 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$365.7K
$320.0K – $426.6K
NOI $25,597 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
17,696
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
Market
Average Price Trend$/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 - Two-bedroom, two-bath residence with private elevator access, skyline views, and a semi-private roof deck.
Where is this residential income property located?
The property is located at 716 N 15TH STREET Unit 501 Philadelphia, PA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residence in a five‑unit boutique building; Completed in 2021 with elevator access directly into the residence; Floor‑to‑ceiling windows with unobstructed Center City skyline views
