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 Market96
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
Taxes and HOA fees
Annual Taxes
$934
Amenities
roof deck
gas fireplace
walk-in pantry
Building Details
Building Size
1,500 SF
Year Built
2021
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Melissa Valenti · License #RS285747
(215) 939-5823
Source:
Patmckennarealtors
Added: Jun 18
Changed: Sep 17
Last Checked: Sep 21 at 7:31AM
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
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
$23,594
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
4.10%
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%
$471,880
$471.9K
Cap Rate 7%
$337,057
$337.1K
Cap Rate 9%
$262,156
$262.2K
Market Conditions
NOI Build-Up for 1,500 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
$45.5K $30.36/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$42.9K $28.60/SF
− OpEx
−$19.3K −$12.87/SF
NOI
$23.6K $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%
$471,880
Cap Rate 7%
$337,057
Cap Rate 9%
$262,156
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
