One-Bedroom Residential Income
For Sale
$329,000
901 N PENN STREET Unit R1107, Philadelphia, PA 19123
Waterfront condominium with dedicated parking, full-service amenities, and expansive views through floor-to-ceiling windows.
Property Size924 SF
Days on Market117
Property Features for 901 N PENN STREET Unit R1107
General Information
Standard status
Active
Size
924 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,638
Amenities
24/7 security and concierge service
fitness center
indoor pool
hot tub
sauna
spa services
dog parks
landscaped grounds
Building Details
Building Size
924 SF
Year Built
2006
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Alyssa Vargas · License #RS333544
(610) 322-2759
Source:
Patmckennarealtors
Added: May 29
Changed: Sep 17
Last Checked: Sep 21 at 7:21AM
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.
Unit R1107 at Waterfront Square is a one-bedroom condominium completed in 2006, with an open living and dining arrangement, hardwood flooring, and floor-to-ceiling windows overlooking the waterfront and Benjamin Franklin Bridge. The kitchen includes stainless steel appliances and granite countertops, while the bedroom offers built-in closet shelving. Additional interior features include a marble bathroom with a soaking tub and a stacked washer and dryer. A dedicated parking space is included.
The gated waterfront community at 901 N Penn Street extends across nine acres and provides 24/7 security, concierge service, a fitness center, indoor pool, hot tub, sauna, spa services, dog parks, and landscaped grounds. The property is near restaurants, coffee shops, entertainment, and major highways.
The gated waterfront community at 901 N Penn Street extends across nine acres and provides 24/7 security, concierge service, a fitness center, indoor pool, hot tub, sauna, spa services, dog parks, and landscaped grounds. The property is near restaurants, coffee shops, entertainment, and major highways.
Key Highlights
- One‑bedroom condominium at Waterfront Square
- Floor‑to‑ceiling windows with waterfront and Benjamin Franklin Bridge views
- Open living and dining areas with hardwood flooring
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
$14,534
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
4.42%
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%
$290,680
$290.7K
Cap Rate 7%
$207,629
$207.6K
Cap Rate 9%
$161,489
$161.5K
Market Conditions
NOI Build-Up for 924 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
$28.1K $30.36/SF
− Vacancy
−$1.6K −$1.76/SF
EGI
$26.4K $28.60/SF
− OpEx
−$11.9K −$12.87/SF
NOI
$14.5K $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%
$290,680
Cap Rate 7%
$207,629
Cap Rate 9%
$161,489
Alternative Uses
Best Use
Apartment 5plus
$207.6K
$181.7K – $242.2K
NOI $14,534 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$225.3K
$197.1K – $262.8K
NOI $15,768 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Waterfront condominium with dedicated parking, full-service amenities, and expansive views through floor-to-ceiling windows.
Where is this residential income property located?
The property is located at 901 N PENN STREET Unit R1107 Philadelphia, PA.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: One‑bedroom condominium at Waterfront Square; Floor‑to‑ceiling windows with waterfront and Benjamin Franklin Bridge views; Open living and dining areas with hardwood flooring
