Historic Residential Income
For Sale
$1,300,000
802 LOCUST STREET Unit 201, Philadelphia, PA 19107
Bi-level condominium with three bedrooms, three baths, deeded parking, and dramatic historic interiors.
Property Size2,400 SF
Price / SF$541.67
Days on Market110
Property Features for 802 LOCUST STREET Unit 201
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/3BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,298
Building Details
Building Size
2,400 SF
Year Built
1824
Year Renovated
2017
Listing Agency:
Compass Pennsylvania, LLC
(215) 915-2000
Listed By:
Alon Seltzer · License #RS326276
(215) 915-2000
Source:
Patmckennarealtors
Added: Apr 16
Changed: Aug 1
Last Checked: Aug 3 at 10:52AM
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.
This 2,400-square-foot bi-level condominium at 802 Locust Street includes three bedrooms, three baths, and one-car deeded parking. Reconfigured in 2017, the residence occupies space within Musical Fund Hall, a building constructed in 1824 and listed on the National Register of Historic Places. Interior features include 28-foot ceilings, lofted areas, tall windows with northern, western, and eastern exposures, and a great room with a wood-burning fireplace. The kitchen has an induction range, double Bosch ovens, custom cabinetry, and pantry storage. Two bedrooms are located on the main level, while the upper-level primary suite includes a sitting area, wood-burning fireplace, walk-in closet, and five-piece bath with a steam shower, dual vanities, and soaking tub.
The building contains 13 residences and is located in Washington Square West near Washington Square Park, Jefferson and Pennsylvania Hospitals, Antique Row, Whole Foods, Talulah’s Garden, and public transportation.
The building contains 13 residences and is located in Washington Square West near Washington Square Park, Jefferson and Pennsylvania Hospitals, Antique Row, Whole Foods, Talulah’s Garden, and public transportation.
Key Highlights
- 2,400‑square‑foot bi‑level condominium with 3 bedrooms and 3 baths
- One‑car deeded parking included
- Built in 1824 and listed on the National Register of Historic Places
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 | $72.9k | $30.36 |
| − Vacancy | −$4.2k | −$1.76 |
| EGI | $68.6k | $28.60 |
| − OpEx | −$30.9k | −$12.87 |
| NOI | $37.8k | $15.73 |
2,400 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$539.3K
$471.9K – $629.2K
NOI $37,751 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$585.1K
$512.0K – $682.6K
NOI $40,956 @ 7.0% cap · market cap 3.15%
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
21,785
Businesses Nearby
Explore this area
Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Philadelphia, PA
Properties on Market for Residential income properties in Philadelphia
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Bi-level condominium with three bedrooms, three baths, deeded parking, and dramatic historic interiors.
Where is this residential income property located?
The property is located at 802 LOCUST STREET Unit 201 Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 2,400‑square‑foot bi‑level condominium with 3 bedrooms and 3 baths; One‑car deeded parking included; Built in 1824 and listed on the National Register of Historic Places
