Studio Residential Income
For Sale
$89,900
723 MELON TERRACE Unit A, Philadelphia, PA 19123
Corner studio in a gated community with private storage, coin-operated laundry, and a tree-lined courtyard.
Property Size375 SF
Days on Market62
Property Features for 723 MELON TERRACE Unit A
General Information
Standard status
Active
Size
375 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
East Poplar
Taxes and HOA fees
Annual Taxes
$1,269
Building Details
Building Size
375 SF
Year Built
1900
Listing Agency:
KW Empower
Listed By:
Stacy L Sanseverino · License #RS281613
(512) 991-5648
Source:
Patmckennarealtors
Added: Aug 24
Changed: Oct 23
Last Checked: Oct 23 at 1:06PM
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
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Investment Insights
Based on property information with market context.
This corner studio at Liberties West features LVP flooring, a tiled bathroom, and two closets. The lower level provides a private storage unit and coin-operated laundry. Built in 1900, the residence is set within a gated community with a courtyard that includes mature trees, walking paths, and a picnic area.
The property is located at 7th & Fairmount in Philadelphia, near Northern Liberties and Spring Garden. Restaurants, shops, public transportation, and Center City are also nearby. Heat, hot water, and cold water are included in the condo fee; cooking gas and electricity remain the owner’s responsibility. The community also has a flexible pet policy.
The property is located at 7th & Fairmount in Philadelphia, near Northern Liberties and Spring Garden. Restaurants, shops, public transportation, and Center City are also nearby. Heat, hot water, and cold water are included in the condo fee; cooking gas and electricity remain the owner’s responsibility. The community also has a flexible pet policy.
Key Highlights
- Corner studio with LVP flooring, tiled bathroom, and two closets
- Private storage unit and coin‑operated laundry in the lower level
- Gated community with courtyard, mature trees, walking paths, and picnic area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,899
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$117,980
$118.0K
Cap Rate 7%
$84,271
$84.3K
Cap Rate 9%
$65,544
$65.5K
Market Conditions
NOI Build-Up for 375 SF
Gross rent
$11.4K $30.36/SF
− Vacancy
−$660 −$1.76/SF
EGI
$10.7K $28.60/SF
− OpEx
−$4.8K −$12.87/SF
NOI
$5.9K $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%
$117,980
Cap Rate 7%
$84,271
Cap Rate 9%
$65,544
Alternative Uses
Best Use
Apartment 5plus
$84.3K
$73.7K – $98.3K
NOI $5,899 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$91.4K
$80.0K – $106.7K
NOI $6,399 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
3,796
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Corner studio in a gated community with private storage, coin-operated laundry, and a tree-lined courtyard.
Where is this residential income property located?
The property is located at 723 MELON TERRACE Unit A Philadelphia, PA.
What is the asking price?
The asking price for this property is $89,900.
What are key features of this property?
This property features: Corner studio with LVP flooring, tiled bathroom, and two closets; Private storage unit and coin‑operated laundry in the lower level; Gated community with courtyard, mature trees, walking paths, and picnic area
