Riverfront Residential Income
New
For Sale
$299,900
901 N PENN STREET Unit P604, Philadelphia, PA 19123
One-bedroom residence with river views, updated finishes, private storage, and full-service community amenities.
Property Size842 SF
Days on Market5
Property Features for 901 N PENN STREET Unit P604
General Information
Standard status
Active
Size
842 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,209
Building Details
Building Size
842 SF
Year Built
2007
Listing Agency:
Real Broker, LLC
(215) 669-5532
Listed By:
Keren N Niv · License #RS226324L
(215) 669-5532
Source:
Patmckennarealtors
Added: Jul 31
Changed: Aug 4
Last Checked: Aug 4 at 4:07AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Residence P604 is a one-bedroom home with southern exposure across the kitchen, living room, and bedroom, creating views toward the Delaware River and Ben Franklin Bridge. The interior features new hardwood flooring, kitchen tile, stainless steel appliances, tall cabinetry, granite countertops, a spacious bathroom, and an in-unit washer/dryer concealed behind closet doors. A private storage unit is included.
Waterfront Square is a gated, 24/7 guarded riverfront community on 9.5 private acres. Property amenities include concierge service, valet parking, on-site management, a 25-meter heated junior Olympic lap pool, hot tub, fitness center, sauna, steam room, massage rooms, community lounges, a three-level garage, landscaped green roof, and putting green. A private weekday shuttle provides service to and from 30th Street. The property was built in 2007 and is located near 676, I-95, area bridges, and the airport.
Waterfront Square is a gated, 24/7 guarded riverfront community on 9.5 private acres. Property amenities include concierge service, valet parking, on-site management, a 25-meter heated junior Olympic lap pool, hot tub, fitness center, sauna, steam room, massage rooms, community lounges, a three-level garage, landscaped green roof, and putting green. A private weekday shuttle provides service to and from 30th Street. The property was built in 2007 and is located near 676, I-95, area bridges, and the airport.
Key Highlights
- Largest one‑bedroom residence in the Peninsula building
- Southern exposure with Delaware River and Ben Franklin Bridge views
- New hardwood floors, kitchen tile, stainless steel appliances, and granite countertops
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 | $25.6k | $30.36 |
| − Vacancy | −$1.5k | −$1.76 |
| EGI | $24.1k | $28.60 |
| − OpEx | −$10.8k | −$12.87 |
| NOI | $13.2k | $15.73 |
842 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$189.2K
$165.6K – $220.7K
NOI $13,244 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$205.3K
$179.6K – $239.5K
NOI $14,369 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,980
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
$544,700
Median Home Value
Market
Average Price Trend$/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 - One-bedroom residence with river views, updated finishes, private storage, and full-service community amenities.
Where is this residential income property located?
The property is located at 901 N PENN STREET Unit P604 Philadelphia, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Largest one‑bedroom residence in the Peninsula building; Southern exposure with Delaware River and Ben Franklin Bridge views; New hardwood floors, kitchen tile, stainless steel appliances, and granite countertops
