Residential Income
For Sale
$350,000
Pending
8 S LETITIA STREET Unit 301, Philadelphia, PA 19106
Two-bedroom condominium in a secured elevator building with restored industrial details and central air.
Property Size1,028 SF
Days on Market52
Property Features for 8 S LETITIA STREET Unit 301
General Information
Standard status
Pending
Size
1,028 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Center City
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,126
Amenities
in-unit laundry
central air
private storage unit
Building Details
Building Size
1,028 SF
Year Built
1900
Buildings
1
Construction
factory loft
Listing Agency:
KW Empower
Listed By:
Ryan M Kanofsky · License #RS313340
(215) 651-5888
Source:
Patmckennarealtors
Added: Sep 10
Changed: Oct 31
Last Checked: Oct 30 at 10:36PM
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.
Unit 301 is a 1,028-square-foot, two-bedroom condominium on the third floor of a secured elevator building. The interior includes exposed brick, original timber beams, refinished hardwood floors, 9.5-foot ceilings, and a foyer with coat storage. A renovated galley kitchen features white quartz counters, subway tile, Samsung stainless steel appliances, and a peninsula adjoining the dining area. The primary bedroom accommodates a king-size bed, while the second bedroom is furnished for a queen-size bed. Both bedrooms include double closets. The residence also offers one full bathroom, a powder room, in-unit laundry, central air, custom blinds, fresh paint, and a private basement storage unit. The HVAC system dates to 2022, and the hot water heater was replaced in 2024.
The property is at 8 S Letitia Street in Philadelphia’s Old City, near restaurants, galleries, boutiques, groceries, and a deli on Market Street. Elfreth’s Alley, Independence Mall, Penn’s Landing Park, and Race Street Pier are within walking distance. 2nd Street Station, I-95, and the Benjamin Franklin Bridge provide transit and regional access.
The property is at 8 S Letitia Street in Philadelphia’s Old City, near restaurants, galleries, boutiques, groceries, and a deli on Market Street. Elfreth’s Alley, Independence Mall, Penn’s Landing Park, and Race Street Pier are within walking distance. 2nd Street Station, I-95, and the Benjamin Franklin Bridge provide transit and regional access.
Key Highlights
- 1,028‑square‑foot two‑bedroom, 1.5‑bath condominium
- Third‑floor residence in a secured elevator building
- Exposed brick, original timber beams, hardwood floors, and 9.5‑foot ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,170
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,400
$323.4K
Cap Rate 7%
$231,000
$231.0K
Cap Rate 9%
$179,667
$179.7K
Market Conditions
NOI Build-Up for 1,028 SF
Gross rent
$31.2K $30.36/SF
− Vacancy
−$1.8K −$1.76/SF
EGI
$29.4K $28.60/SF
− OpEx
−$13.2K −$12.87/SF
NOI
$16.2K $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%
$323,400
Cap Rate 7%
$231,000
Cap Rate 9%
$179,667
Alternative Uses
Best Use
Apartment 5plus
$231.0K
$202.1K – $269.5K
NOI $16,170 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$250.6K
$219.3K – $292.4K
NOI $17,543 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,993
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium in a secured elevator building with restored industrial details and central air.
Where is this residential income property located?
The property is located at 8 S LETITIA STREET Unit 301 Philadelphia, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,028‑square‑foot two‑bedroom, 1.5‑bath condominium; Third‑floor residence in a secured elevator building; Exposed brick, original timber beams, hardwood floors, and 9.5‑foot ceilings
